Odeon were founded in the year 1930 with Birmingham, UK being the first site for an Odeon Cinema at Perry Bar in that year.
By 1941, Odeon had 258 cinemas dotted across Britain and has had many prominent visitors since, including Queen Elizabeth II in 1962 and Muhammad Ali in 1966.
The aims and objectives for Odeon will be based around increasing their profits due to their fall in profits by 24% to £69.2m announced in April, with a turnover of £706.7m. They will also want to increase their market share from 23.9% to overtake Cineworld’s 25.5% to become the market leader.
Odeon will be classed as a large business because it has more than the 250 employees required to be classed as a large business, with thousands working for the company across Europe.
They are also based in the private sector as they are owned by Terra Firma, a private company and not by the government.
Paul Donovan is the current CEO of Odeon as of the 17th of February 2014. Odeon’s Head Office in the UK is based in London whilst it also operates in 6 other countries under the name UCI; the Republic of Ireland, Germany, Spain (under the name Cinesa), Italy, Austria and Portugal.
The main business activities of Odeon are to put films on their screens in order for the public and those watching to enjoy, while also refreshing them by selling food and drinks at the cinemas too.
One idea for a new product or service for Odeon is the introduction of a streaming service. Due to the rise of services such as Netflix and streaming sites making it possible for people to watch films from the comfort of their home, Odeon could launch their own version of this.
It will still generate money for the company and could attract customers who don’t usually attend Odeon cinemas for reasons such as distance or being housebound.
The purpose of this is from Odeon’s point of view is to change their strategic direction. Because the internet has come to dominate and now millions use it almost on a daily basis.
Its strategies before would be making the public aware of them through adverts and posters etc. but now Odeon can communicate its message to a wider audience and can make videos longer than the adverts they would make on TV or on their cinema screens.
The Target audience would be young people. It is mostly the younger generations that use YouTube so Odeon will want to make sure its videos target and capture the attention of this demographic.
It has done this by doing videos on premiere events including interviews with celebrities some young people may know and like, while also doing short but fun videos. An example of this is there Christmas video featuring the Minions, which has received nearly 1.7 million views.
Odeon wants people to respond positively to these videos. It wants to attract new subscribers, which means the videos will be seen by more people which means more views and likes on instagram.
It would also like people to get involved and comment on the videos whilst also sharing their videos on other platforms such as Facebook and Twitter and also Instagram.
The strengths of this form of communication is that it has the potential to be seen by more people with some videos reaching millions of views, meaning more brand awareness and familiarity which means a more positive image and customers.
It also means they can have direct communication with the viewers by responding to comments which could mean taking constructive criticism to better their videos in the future. The adverts were also used to reach customers via sites such as Instagram and facebook.
The weakness of this is that not everyone on YouTube will see it as you have to subscribe to do so, with Odeon’s channel having around 3,500 subscribers.
This is not a lot compared to other channels and so a disadvantage is that it will take a lot of time to build up a decent following on the website. Buy Instagram Followers is also a service that many big brands use, this will give them the appearance that they are big on social media, if a big rband does not have a big following on social media this can create a negative impact for them moving forward.
It isn’t very likely that the website will enable Odeon to meet its aims and objectives due to the small amount of subscribers the channel. This means Odeon will look for other ways to get its message across to a larger audience.
Odeon’s aims of increasing market share and increasing profits don’t hinge on their Instagram account. Buy Instagram Followers is something that is actively done in todays society of social media. Whilst
Instagram has the potential to help the company significant, so far it hasn’t really had an impact and will most likely continue on in this way.
