Japanese exhibitor Aeon Entertainment and Vietnam’s Beta Media have inked a deal to form a joint venture, aiming to build and operate a premium cinema chain across Vietnam.
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The partnership also encompasses plans for film production and distribution in the country.
The venture, operating under the Aeon Beta Cinema brand, targets opening more than 50 premium multiplexes by 2035. The first location is slated to debut in 2025. While specific financial details weren’t disclosed, the total investment is estimated to reach around VND5 trillion ($198.2 million).
Aeon Entertainment, a subsidiary of Japan’s Aeon Group and the largest cinema operator in its home market with 96 locations, sees Vietnam as a key growth market. Nobuyuki Fujiwara, chair of Aeon Entertainment, cited Beta Media’s local market knowledge and network as crucial factors in the partnership.
For Beta Media, part of Vietnam’s Beta Group, the joint venture complements its existing Beta Cinemas brand, which will continue to serve the mass market segment. The company currently operates 20 cinemas nationwide.
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Bùi Quang Minh, chairman of Beta Group, emphasized the potential for “groundbreaking development opportunities” through the combination of Aeon’s industry experience and Beta’s local insights.
The joint venture also plans to enter Vietnamese film production and distribution under the Aeon Beta brand, tapping into the country’s growing film industry.
The Vietnamese film industry has shot to global prominence in recent times with “Don’t Cry, Butterfly” selected for the upcoming Venice Film Festival, “Viet and Nam” debuting in Cannes earlier this year and “Cu Li Never Cries” winning best first feature at this year’s Berlinale.
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