The joint venture between Beta Media and Aeon Entertainment will build more than 50 premium cinema complexes across Việt Nam under the Aeon Beta Cinema brand by 2035. — Photo courtesy of Beta Media

Beta Media (Vietnam) and Aeon Entertainment (Japan) have announced the establishment of a joint venture for building and operating a chain of premium cinemas, investing in film production, and distributing Vietnamese, Japanese and other language films in Việt Nam.

It is expected that tens of billions of yen (several trillion đồng) will be invested to build more than 50 premium cinema complexes across Việt Nam under the Aeon Beta Cinema brand by 2035.

The first Aeon Beta Cinema theatre is expected to open in 2025.

The joint venture also aims to make a strong entry into film production and distribution also under the Aeon Beta brand.

Bùi Quang Minh, chairman of Beta Group, said: "This joint venture is the fruitful result of shared vision, aspirations and core values to bring new experiences and sustainable values to the community.

“The combination of Aeon Entertainment, with its strong capabilities and extensive experience in the film industry, and Beta Media, with its local insights and innovative capabilities, will create groundbreaking development opportunities for both sides."

Nobuyuki Fujiwara, chairman of Aeon Entertainment, said Beta Media is the perfect partner due to its deep understanding of the Vietnamese market and strong local network.

“We look forward to leveraging the strengths of both companies to bring the best entertainment and film-watching experience to Vietnamese customers.”

Founded in 2014, Beta Media is part of the Beta Group and has opened 20 Beta Cinemas across the country.

Alongside the new Aeon Beta Cinema brand developed by the joint venture, the Beta Cinemas brand will continue to be promoted by Beta Media to serve the mass market.

Aeon Entertainment, a subsidiary of the Aeon Group and established in 1991, currently operates 96 cinemas, making it the largest chain in Japan. — VNS