Imax has announced a deal with Hengdian Films to open 20 new theaters with Laser systems in China’s local cinema market, continuing the giant screen exhibitor’s positive financial recovery in the region. This expansion is a part of a larger push into the rapidly growing market and follows a local box office recovery.
More About Hengdian Films & Insight On New Imax Locations
Hengdian Films owns and operates China’s renowned Hengdian film studio. With an extensive network of 503 cineplexes and 3,154 screens across China, the corporation is also a prominent film and television production, distributor, and exhibitor. Its shares are traded on the Shanghai Stock Exchange. The company has been working with Imax since 2017 and currently operates seven Imax theaters. The new Imax with Laser venues will be in Jingdezhen, Ulanqab, and Zhangjiakou, all of which will be the first Imax locations in China. New locations are also planned for Hangzhou, Guangzhou, Chengdu, Jiujiang, Hohhot, and Yangzhou, with more to come.
The multi-theater agreement is the largest in four years for new Imax systems in China, “reinforcing the renewed demand among Chinese exhibitors and audiences for the Imax experience with Hollywood and local content alike,” according to Imax.
“We’re excited to deepen our partnership and expand into new markets with Hengdian Films, as more exhibitors worldwide grow their commitment to Imax and drive significant growth in our network this year. Thanks to its robust mix of local language and Hollywood content, China continues to see a rapid recovery in moviegoing post-COVID and, as we are seeing in markets around the world, a rebound at the box office is often followed by network growth for Imax.”Rich Gelfond, CEO of Imax