Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Imax teams with Shanghai Film to open 19 more giant-screen cinemas in China

Patrons watch a 3D IMAX movie at a theater in Beijing, May 21, 2012. THE CANADIAN PRESS/AP, Ng Han Guan

Enlarge Image

Patrons watch a 3D IMAX movie at a theater in Beijing, May 21, 2012. THE CANADIAN PRESS/AP, Ng Han Guan

HONG KONG - Imax and China's biggest state-owned film exhibitor are teaming up to open 19 giant screen cinemas in the world's No. 2 movie market.

Imax Corp. and Shanghai Film Corp. said Tuesday that a "significant number" of the theatres will open before the end of 2015.

No financial terms were disclosed. Shanghai Film already operates three Chinese Imax theatres.

Box office revenues in China surged 27 per cent last year to $3.6 billion, making the country a crucial market for international film companies.

Government policies aimed at encouraging growth of Imax and 3-D movies are helping boost the format's popularity in China's tightly controlled film market.

"Transformers: Age of Extinction," the latest instalment of Michael Bay's blockbuster robot film franchise, earned nearly $10 million at Chinese Imax screens on its opening weekend, more than double the previous record, the company said.

The deal comes a year after Imax partnered with another Chinese company, Wanda Cinema, to open up to 120 of the Canadian company's theatres.

At the end of 2013, Imax had 173 cinemas in China and plans for 230 more by 2021, according to its latest annual report.

That puts China on track to become Imax's No. 1 market globally, overtaking the United States, where box office revenue growth is stagnating and the company has about 380 cinemas.

____

Online:

Imax: www.imax.com

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates