Imax signs eight-theatre deal in China

Mumbai: Building on a year of unprecedented international network growth, Imax Corporation has signed an agreement with Guangzhou Jinyi Film & Television Group, Co., Ltd., an entertainment developer and exhibitor in China, to open eight Imax theatres in China.

The agreement adds to the four Imax theatres already contracted between the two parties, bringing the exhibitor’s total number of Imax theatres scheduled to open by 2014 to 12. This deal brings the total number of Imax theatres scheduled to be operating in China by 2014 to 65, and the number of theatre systems signings announced year-to-date by the Company to 103, which compares to 35 systems in all of 2009.

"Imax represents the world’s best cinematic experience and it is very clear that the Imax brand is highly regarded by consumers in China, where Imax screens are significantly outperforming conventional movie screens in both 2D and 3D. We chose to add Imax locations based on the rapidly growing demand for The Imax Experience in cities throughout China, and the proven business model of Imax’s digital projection system," said Guangzhou Jinyi Film and Television Investment Group General Manager Shirley Ye.