RNR Inc. challenges industry norms with innovative 'Monoplex' theaters

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by Anna Munhin May 29, 2023 News
RNR Inc. challenges industry norms with innovative

The Monoplex is a type of theater where one can watch movies in a specific location such as apartments, hotels, offices and more. At Monoplex you can see a movie premiere at the same time as other movie theaters.

According to the company, public interest in Monoplexes has increased since the outbreak of COVID-19, as people have become increasingly reluctant to gather in busy spaces, leading to the rise of streaming services which allow people to enjoy films online and outside of theaters.

Business owners are eyeing this new viewing model as a profitable business, because those who enjoy small gatherings for watching movies with family, friends and acquaintances are particularly keen on using Monoplex.

A business model that has never been done before.

The owner of the space doesn't need to worry about the cleaning of the facility. Infrastructure investment costs can be reduced because we make use of existing spaces and employees. It usually takes 8 to 10 years for a multiplex to collect their investment funds, but with our Monoplex business model, it only takes a year.

Cinema is a large industry that covers a wide range of processes from production and distribution to screening and viewing. In the past 10 years, all of these processes have become digital. The facility- and device-centered industry was redefined by Monoplex due to the trend of digitization. He brought a new business model to the world.

No other company has been able to commercialize screening movie premiere at non-multiplex theaters. Intellectual property, distribution license agreements, reservations and settlements are just some of the many processes involved in this business. It is a business model that allows for profit generation for many stakeholders.

It's a special system for screening movies. Control of the content is possible with the help of projection equipment. It's difficult to do a standard Hollywood method. We develop and deliver software. Everything is done remotely for you by us. He said that anyone can own a movie theater with a click of a mouse.

There are 10 monoplexes in Korea Three theaters were launched this month. In Gangnam, a landmark apartment complex, a theater was opened at the community center called "DH Cinema". There will be more openings in the coming weeks as a result of employee welfare at large conglomerates.

Monoplexes are gaining popularity as the economic value of apartments is expected to gradually increase here. This is especially true of hotels, where the use of existing spaces can lead to additional revenue, and office spaces, which can be renovated with screens for employees to watch movies. They can be open to the public on the weekends.

Changes can be made with the help of local governments in areas where there are no theaters to show movies. At least 200,000 spectators are needed to meet the break-even point, but Monoplexes can host much smaller audiences. A cultural voucher system can be used with monoplexes.

Growth potential in other countries.

The birthplace of cinema, the US market, is being targeted by RNR Inc. Various content has been secured by Seok. His business has been focused on globalization since it was established. Korea's movie market makes up just 4.5 percent of the global market, so the main source of profit is abroad.

Products with the "Made in Korea" label at the supermarket caught my eye when I was an elementary school student. I learned the meaning of the phrase and wanted to be the embodiment of it. Everything in the film industry has always been based in the US. I want to give "Made in Korea" a new meaning in the film industry.

The nation's leading company in multiplex hardware supply has been established by RNR Inc. Out of the 3000 theaters in Korea, it manages more than 1,600 out of them. The first phase of the project was called Monoplex. The Cine Marketplace project will manage the intellectual property of movies based on the distribution network of Monoplex content in the global market and enable fractional investments throughBlockchain.

Cine Marketplace will manage the release and monetization of small scale films through the Monoplex distribution network. All movies have a fan base no matter how small or large. Film merchandise and fractional investments are also in the works. The fractional investment business will be operated in partnership with the token securities partner of the company.

We want to establish ourselves in the global market as a content distribution platform. Our Made-in-Korea projects, Monoplex and Cine Marketplace, will be developed and exported. Korean content will be exported to other countries if the distribution platforms around the world are installed. I hope the government will focus on overseas expansion of distribution platforms along with production support in order to promote the exportation of content.

A version of Disney.

When the nation's film industry started booming in the early 2000s, he started his career at the film division. At a time when cinema infrastructure was transitioning from film to digital, he worked with major Hollywood studios such as Disney, Warner Bros., Universal, Paramount, Sony and Fox.

He was able to gain insight into the screening industry as he worked at a multiplex theater brand and learned about the distribution industry as he worked with distributors. After four years in Hollywood, Seok returned to Korea and took out a loan to start his own business.

I did not get paid for the first year as I was trying to create a profit indicator. It has grown into a company with 52 executives and 15 billion won in sales. He said that doing business with an understanding of both hardware and software as well as the flow and ecosystems of screening premiere can be credited for these achievements so far.

The ultimate goal of the CEO is to create a new market. The global content market has undergone rapid changes in the past ten years. The movie theater box office was overtaken by streaming media services before the COVID-19 Pandemic. The box office plummeted 70 percent in just one year as the streaming era arrived. The growth limit of streaming media led to a 70 percent plunge in the stock price of the major streaming service. Neither platform is likely to be able to monopolize consumers' time.

There will be a new online and offline platform. It will serve as a form of interaction with the fandom economy and not just deliver content. Disney is one of the most successful companies in the industry. Content creation and consumption needs to change constantly. The big fish used to eat the small fish, but now the fast fish are eating the slower fish. RNR Inc.'s services, Monoplex and Cine Marketplace, are being used to become a new Disney in a different way than Disney itself.

Yu Ji-soo is a reporter for the Heraldcorp.