What is your vision for BioRex?
Peter Fornstam: The market in Finland is underdeveloped. We feel that if we put enough time, energy and money we can close the gap, develop the market with 3/4/5 screen cinemas and generate more admissions. If we look back at Sweden, we took a small market and slowly and carefully built it.
BioRex needed capital to grow. It will be easier now for the chain to develop and establish itself in the market with our know-how and financial muscle. We think BioRex can do in Finland what Svenska Bio does in Sweden.
How is the company going to be managed?
PF: Aku Jaakkola who was BioRex’s Business Manager is now CEO. He is young and the perfect person to run the show. My job is to give him the tools to work and of course we’re in constant discussions.
What are your plans for BioRex’s distribution arm?
PF: I don’t run a distribution operation in Sweden and the distribution business is changing rapidly. It’s still too early to say what we will do in Finland. I’m all for keeping it if we can get the right supply of films and if it makes sense financially. But again, it’s too early to tell.
In terms of film delivery, do you intend to offer a mix of arthouse and mainstream titles, the way you do with Svenska Bio in Sweden?
PF: The difference in Sweden is that we’re further ahead with the market. We recently opened a 26 seater screen as part of a multiplex. The idea is to create VIP exclusive experiences for the audience. Also, in Sweden, we were able in 2007 to acquire the Astorias independent chain that has many arthouse cinemas. So once again, our experience and knowledge of the cinema market will bring added value in Finland. Our intention is to invest in venues and develop the mid-size market to serve as best as possible the cinema audience.
How many cinemas do you run today?
PF: In Sweden we have 114 screens in 31 different markets/venues. By November 2014 we will have 119 screens as we’re planning to add another 5screen multiplex. In Denmark we have a 35% share in the 5 screen multiplex Empire Bio in Copenhagen and own another 5plex venue, so we have 10 screens in 2 markets in Denmark. With BioRex we’re present in 4 cities and have 14 screens, so in total Svenska Bio has 138 screens in 37 markets/venues.