Hoyts
{{Short description|Australian cinema chain}}
{{Use Australian English|date=August 2011}}
{{Use dmy dates|date=December 2015}}
{{Infobox company
| name = The Hoyts Group
| logo = HOYTS LOGO RED-01.png
| logo_size = 250px
| type = Subsidiary
| foundation = {{Start date and age|1909}}
| location = Sydney, Australia
| key_people = Damian Keogh (Group CEO)
Stephen Watson (Group CFO)
Guy Burbidge (MD – Val Morgan)
| area_served = Australia, New Zealand
| industry = Film exhibition, film distribution, cinema advertising
| products = Hoyts Cinemas
| revenue =
| operating_income =
| net_income =
| num_employees = Estimated 4000
| parent = Wanda Group
| subsid =
| homepage = {{url|https://www.hoyts.com.au/}}
| footnotes =
}}
File:HOYTS Greensborough .jpg, opened in 2018]]
The HOYTS Group of companies in Australia and New Zealand includes HOYTS Cinemas, a cinema chain, and Val Morgan, which sells advertising on cinema screens and digital billboards.
The company was established by dentist Arthur Russell in Melbourne, Victoria in 1908, showing films in a hired hall. After expansion into other states and several changes of ownership, the majority of HOYTS was acquired by a Chinese conglomerate, the Wanda Group, in 2015. Presently, HOYTS owns and operates 60 cinemas, across Australia and New Zealand, covering 500 screens and more than 60,000 seats, including its newest cinema in Ipswich, making it one of Australia's largest movie exhibitors.
History
= 1909–1930 =
At the start of the 20th century, Melbourne dentist and cornet player Arthur Russell bought a share in a small touring American circus that visited Melbourne, called HOYTS Circus. Russell toured with the circus as a magician, but it did not prove to be a financial success. In 1908, he started presenting moving pictures at St George's Hall in Bourke Street, accompanying the silent films with his small family band: his wife on piano, son on drums, and Russell on cornet. On 18 September 1909 he opened HOYTS Picture Palace, and formed a company called HOYTS Pictures Pty Ltd. The old hall was rebuilt and renamed "HOYTS De Luxe". By the end of World War I, HOYTS had expanded into the suburbs of Melbourne and into Sydney.{{cite journal | title=1998: Hoyts 90th year | journal=Cinema Record | url=https://www.cinemarecord.org.au/read/cr22/mobile/index.html#p=15 | date=November 1998|issue=22|page=15| access-date=14 August 2023| quote=Source: "The Story of HOYTS ", News Release, HOYTS Theatres Limited.}} [https://www.cinemarecord.org.au/read/cr22/files/basic-html/page15.html HTML version] The shows included vaudeville acts, as was common practice in those days.{{cite web | title=Hoyts Theatres Ltd | website=AustLit | date=19 Jun 2013 | url=https://www.austlit.edu.au/austlit/page/A131806 | access-date=14 August 2023}}
In 1926, HOYTS and two other companies, Electric Theatres Pty. Ltd. and Associated Theatres Pty. Ltd., merged to become HOYTS Theatres Limited. In 1930, the 20th Century Fox Film Corporation (now 20th Century Studios) acquired a majority of shares in HOYTS Theaters Ltd.{{cite news |title=[headline unknown] |work=The Argus|page=9 |date=3 September 1930 }}{{cite web | title=Chronology 1900s | website=Australian Screen | url=https://aso.gov.au/chronology/1900s/ | access-date=14 August 2023| quote=Sources: Moran, A & Veith, E 2005, Historical Dictionary of Australian and New Zealand Cinema, The Scarecrow Press, Maryland, USA. AllExperts Encyclopedia, Hoyts}}
= 1980s =
In 1982, 20th Century Fox sold HOYTS to Stardawn Investments, a group of four Melbourne businessmen. In 1985, the Fink family subsequently bought out the other partners to become the sole owner. In 1987, the corporation was restructured and two of the companies in the corporation were listed on the Australian Securities Exchange: HOYTS Media and HOYTS Entertainment. However, the company that owned the cinemas, HOYTS Cinemas, was not floated until 1996. The years between 1987 and 1996 saw HOYTS expand in Australia, New Zealand and the United States. In 1988, HOYTS bought out Interstate Theaters, which made its expansion into the United States market.{{Cite web |last=Archives |first=L. A. Times |date=1988-04-19 |title=International Film Exchange Ltd., which distributes American... |url=https://www.latimes.com/archives/la-xpm-1988-04-19-fi-1267-story.html |access-date=2023-06-17 |website=Los Angeles Times |language=en-US}}
= 1990s =
Following Leon Fink's death in 1993, the HOYTS organisation was sold to Hellman & Friedman and Lendlease. The company eventually went public in 1995. In 1997, HOYTS expanded to Chile with the opening of its first movie theatre there. In 1999, Hoyts celebrated its 90th anniversary and was ranked the seventh largest cinema exhibitor in the world. In the same year, the late Kerry Packer's private family company, Consolidated Press Holdings, bought the chain for $620 million. After that, HOYTS began to sell off international cinemas except for some New Zealand cinemas.{{cn|date=August 2023}}
= 2000s =
In 2003, HOYTS sold all of its US chains to Regal Entertainment Group.{{Cite web |title=CNN.com - Regal buys Packer's U.S. cinemas - Feb. 5, 2003 |url=http://www.cnn.com/2003/BUSINESS/asia/02/05/aust.packer.biz/ |access-date=2023-06-17 |website=www.cnn.com}}{{Cite web |date=2003-02-05 |title=Packer sells HOYTS stake in America |url=https://www.theage.com.au/national/packer-sells-HOYTS -stake-in-america-20030205-gdv6gz.html |access-date=2023-06-17 |website=The Age |language=en}} In 2004, HOYTS collaborated with Village Roadshow and Amalgamated Holdings Limited to bail out Val Morgan Cinema Advertising, eventually taking their stake to 100% in 2005. In December that year, Publishing & Broadcasting Limited and West Australian Newspapers purchased the company from Consolidated Press. In 2007, HOYTS was sold to Sydney-based private equity firm Pacific Equity Partners. The sale valued the company at A$440 million.{{cn|date=August 2023}}
= 2010s =
In 2010, HOYTS sold off its Chilean operations to {{ill|Chilefilms|es}}. In the same year, HOYTS acquired Australian Multiplex Cinemas in Queensland and the Berkeley Cinema Group in New Zealand. HOYTS Stream, a video streaming service, was set to launch during 2013, but after being delayed, it was cancelled in 2014.{{cite web |url=https://www.theaustralian.com.au/business/latest/HOYTS -stream-online-video-service-on-thin-ice/news-story/99fd0908876dd54fcb76c2bc4be1e503 |title=HOYTS Stream online video service on thin ice |last=Adhikari |first=Supratim |date=18 June 2014 |website=The Weekend Australian |publisher=News Corp Australia |access-date=15 September 2019 }}{{cite web |url=https://www.smh.com.au/technology/online-videostreaming-service-HOYTS -stream-to-launch-this-year-20140519-zrhpi.html |title=Online video-streaming service HOYTS Stream to launch this year |last= Colley |first=Andrew |date=19 May 2014 |website=Sydney Morning Herald|publisher=Fairfax Media |access-date=15 September 2019 }} Damian Keogh was appointed chief executive officer, and HOYTS was bought by Chinese billionaire Sun Xishuang through his investment company ID Leisure Ventures in December 2014.
In June 2015, Wanda Cinema Line, a subsidiary of Dalian Wanda Group, purchased HOYTS from ID Leisure Ventures.{{cite web |url=https://variety.com/2015/film/asia/chinas-wanda-buys-australias-hoyts-1201510298/ |title=China's Wanda Buys Australia's HOYTS Multiplex Chain |last=Frater |first=Patrick |date=2 June 2015 |website=Variety |publisher=Penske Media Corporation |access-date=14 September 2019}}
In 2018, HOYTS Kiosk DVD vending machines were rebranded as Video Ezy after the group sold its subsidiary.{{cite web |url=https://www.smh.com.au/business/companies/hoyts-dvd-vending-business-to-be-swallowed-by-rival-video-ezy-express-20180103-p4yy7v.html |title=Hoyts DVD vending business to be swallowed by rival Video Ezy Express |last=Duke |first=Jennifer |date=5 January 2018 |website=The Sydney Morning Herald |publisher=Nine Entertainment |access-date=15 September 2019 }}
In Argentina HOYTS was acquired by Cinemark, in Chile by Cinépolis, and in Uruguay by Life Cinemas.{{Citation needed|reason=Sources needed for South American acquisitions, ideally in English language|date=January 2020}}{{when|date=August 2023}}
= 2020s =
In December 2022, HOYTS acquired three cinemas in WA from Grand Cinemas after the company went into administration.{{Cite web |last=Smith |first=Sean |date=2022-12-23 |title=Hoyts buys three cinemas from failed WA chain |url=https://thewest.com.au/entertainment/movies/hoyts-buys-three-cinemas-from-was-collapsed-grand-cinemas-c-9258108 |url-access=subscription |access-date=2023-01-08 |website=The West Australian |language=en}} In April 2023, they acquired an additional cinema from Grand.{{cite web |last=Tan |first=Christopher |url=https://www.perthnow.com.au/local-news/perthnow-stirling/the-show-goes-on-hoyts-moves-into-northern-suburbs-after-grand-cinemas-calls-it-quits-c-10183275 |title=Hoyts moves into northern suburbs after Grand Cinemas calls it quits |date=1 April 2023|accessdate=1 April 2023}} That month, Wanda Film also began seeking buyers for Hoyts.{{Cite web |last1=Thompson |first1=Sarah |last2=Sood |first2=Kanika |last3=Rapaport |first3=Emma |date=2023-04-03 |title=Lights, camera, action! Credit Suisse, Nomura reboot $1b Hoyts sale |url=https://www.afr.com/street-talk/lights-camera-actions-credit-suisse-reboots-hoyts-cinemas-sale-20230403-p5cxk9 |access-date=2023-04-04 |website=Australian Financial Review |language=en}}{{cite web | last=Frater | first=Patrick | title=China's Wanda Seeks Buyers for Australia's Hoyts Cinema Chain | website=Variety | date=12 April 2023 | url=https://variety.com/2023/film/news/china-wanda-selling-hoyts-australia-1235580396/ | access-date=14 August 2023}} The sale of Beijing Wanda Investment, which had a controlling stake in Wanda Film, to China Ruyi in December 2023 put any potential sale of Hoyts up in the air.{{Cite web |last=Buckingham-Jones |first=Sam |date=2024-02-04 |title=Hoyts sale up in the air after Chinese businessman snaps up parent |url=https://www.afr.com/companies/media-and-marketing/hoyts-sale-up-in-the-air-after-chinese-businessman-snaps-up-parent-20240201-p5f1ob |access-date=2024-02-08 |website=Australian Financial Review |language=en}}
Cinemas
{{as of|2024}}, HOYTS owns and operates 60 cinemas across Australia and New Zealand, with 500 screens and more than 560000 seats, making it one of Australia's largest movie exhibitors.
Features available at many HOYTS Cinemas include reclining chairs, large high-resolution screens and immersive surround sound under the Xtremescreen brand, and dine-in menus under the HOYTS Lux brand.{{cite web |url=https://www.dailytelegraph.com.au/newslocal/inner-west/hoyts-lux-cinema-now-offers-a-gourmet-night-out-at-broadway/news-story/fa3b0e843e8537b52e282518fd92780a |title=Hoyts Lux cinema now offers a gourmet night out at Broadway |last=Zuill |first=Catherine |date=3 December 2014 |website=The Daily Telegraph |location=Sydney |access-date=21 September 2019}}{{cite web |url=https://www.stuff.co.nz/entertainment/film/109982520/at-the-movies-inside-the-rise-of-luxury-cinemagoing-in-new-zealand |title=At the Movies: Inside the rise of luxury cinemagoing in New Zealand |last=Croot |first=James |date=17 January 2019 |website=Stuff |publisher=Nine Entertainment |access-date=21 September 2019}}{{cite web |url=https://www.hoyts.com.au/experiences/xs |title=Xtremescreen: Make your next movie a big one |author= |website=Hoyts |access-date=21 September 2019}}
Seats that move and vibrate in synchronization with on-screen action have been introduced at some cinemas using D-Box Technologies.{{cite web |url=https://www.smh.com.au/entertainment/movies/cinema-with-a-new-dimension-20111006-1la3c.html |title=Cinema with a new dimension |last=Maddox|first=Garry |date=7 October 2011 |website=Sydney Morning Herald |publisher=Fairfax Media |access-date=21 September 2019}}
HOYTS Cinema Technology Group (CTG) was established in 2008 and helps other exhibitors such as Palace Cinemas install and operate digital cinema. HOYTS CTG also supports one-off screenings such as festivals or corporate events.{{cite web |url=http://ctg.hoyts.com.au/ |title=About us/Recent clients |author= |website=Hoyts Cinema Technology Group |access-date=21 September 2019}}
Val Morgan
{{Main|Val Morgan}}
Val Morgan was created by Valentine (Val) Morgan and specializes in advertising on cinema screens. Val Morgan's sister company, Val Morgan Outdoor (VMO), operates advertising screens in shopping centres, gyms, service stations and office towers, as well as outdoor digital billboards.{{cn|date=August 2023}}
HOYTS Distribution
HOYTS Distribution was the film distribution arm of the group which existed in its own right from 1979{{Cite news |date=1979-03-01 |title=The Quarter |pages=13 |work=Cinema Papers}}{{Cite book |last=Melnick |first=Ross |url=https://books.google.com/books?id=Qd4MEAAAQBAJ&dq=hoyts+distribution&pg=PT107 |title=Hollywood's Embassies: How Movie Theaters Projected American Power Around the World |date=2022-04-26 |publisher=Columbia University Press |isbn=978-0-231-55413-8 |language=en}} to 1994; it possessed the distribution rights to Cannon Films, Carolco and Nelson Entertainment films in Australia and New Zealand. The distribution unit was originally founded by Jim Shakespeare, the national sales manager of the company and Bill Gavin, general manager of films and marketing of the company. The company's first films include The Chant of Jimmie Blacksmith, The Stud, The Boys from Brazil, Dawn! and Long Weekend.
It was later merged with the distribution operations of Columbia TriStar Film Distributors and 20th Century Fox, forming HOYTS -Fox-Columbia TriStar Films (later Fox-Columbia TriStar Films after HOYTS dropped out of the venture). In 1993, the entertainment branch of HOYTS was spin-off to Television and Media Services, with the unit being renamed to TMS Distribution.{{Cite web |last=Groves |first=Don |date=1994-02-09 |title=Oz media conglom TMS bumps profits by 128% |url=https://variety.com/1994/biz/news/oz-media-conglom-tms-bumps-profits-by-128-118171/ |access-date=2023-06-01 |website=Variety |language=en-US}} The company's original film library was sold off to Becker Entertainment in 1999.{{Cite web |last=Cahill |first=Phillippe |date=1999-09-15 |title=Oz's Becker posts annual loss again |url=https://variety.com/1999/biz/news/oz-s-becker-posts-annual-loss-again-1117755667/ |access-date=2023-06-01 |website=Variety |language=en-US}} In 2001, the company was revived under the leadership of Kerry Packer, distributing primarily films produced by Nine Films and Television and major independent studios such as Lions Gate Entertainment.{{Cite web |last=Groves |first=Don |date=2001-08-05 |title=Hoyts back in pack |url=https://variety.com/2001/film/news/hoyts-back-in-pack-1117850712/ |access-date=2023-06-01 |website=Variety |language=en-US}}
HOYTS also operated a home video arm in concert with Sony, beginning in 1983 as RCA/Columbia/Hoyts Video Pty. Ltd. In addition to Columbia Pictures and TriStar fare through the main label, the company also held rights to Cannon and other releases via HOYTS , and starting in 1990, Orion Pictures releases via that company's worldwide distribution deal with Columbia. RCA/Columbia/Hoyts (later renamed to Columbia TriStar/HOYTS Home Video) also released product through two alternative labels, First Release Home Entertainment and Video Box Office. HOYTS also had, beginning in 1988 a joint venture with PolyGram, HOYTS PolyGram Video; this label concentrated primarily on sell-through material, including PolyGram's music video library.{{Cite news |last=Wright |first=Lea |date=1988-10-13 |title=Hoyts Media, PolyGram in music joint venture |pages=35 |work=The Sydney Morning Herald}} In 2004, the revived HOYTS Distribution partnered with MGM Home Entertainment and Universal Studios Home Entertainment to launch its own home video arm.{{Cite web |last=Groves |first=Don |date=2004-05-30 |title=Hoyts teams with MGM, U video arms |url=https://variety.com/2004/digital/features/hoyts-teams-with-mgm-u-video-arms-1117905689/ |access-date=2023-06-17 |website=Variety |language=en-US}}
In 2012, HOYTS Distribution was sold to French production and distribution company StudioCanal and was rebranded under that banner the following year.{{cite web|url=https://www.if.com.au/2013/04/03/article/Hoyts-Distribution-renamed-STUDIOCANAL-in-Australia-and-New-Zealand/MBDQJXMERM.html|title=Hoyts Distribution renamed STUDIOCANAL in Australia and New Zealand| publisher=IF Magazine|date=4 March 2013| archive-url=https://web.archive.org/web/20130409041010/http://if.com.au/2013/04/03/article/Hoyts-Distribution-renamed-STUDIOCANAL-in-Australia-and-New-Zealand/MBDQJXMERM.html| archive-date=9 April 2013}}
References
{{Reflist}}
External links
{{Commons category}}
- {{official|https://www.Hoyts.com.au/| Hoyts Cinemas Australia}}
- {{official|https://www.hoyts.co.nz/| Hoyts Cinemas New Zealand}}
- [https://www.bloomberg.com/profile/company/0862217D:US?cic_redirect=true Hoyts Group Holdings LLC] on Bloomberg
{{Cinema of Australia}}
{{Dalian Wanda Group}}
Category:Australian companies established in 1909
Category:Cinema chains in Australia
Category:Cinema chains in New Zealand
Category:Companies based in Sydney
Category:Entertainment companies established in 1909