, made some headway in late 2020 and throughout 2021, despite the Delta variant closing cinemas for a second time from July to September.
Indonesia’s cinema industry was closed to foreign investment until 2016, when the government implemented a series of regulatory reforms and international exhibitors started to enter the market. Korea’s CJ CGV now operates around 17% of Indonesia’s cinemas, while Mexico’s Cinepolis, which partnered with Lippo Group’s Cinemaxx, has a 15% share. Market incumbent Cinema 21, which operates around 64% of Indonesia’s cinemas, has also been investing heavily in expanding its circuit.
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