IMAX Corporation and Guangzhou Jinyi Film & Television Group,
Co., Ltd., a leading entertainment developer and exhibitor in China,
today announced an agreement to open four IMAX theatres in China.
The first three installations are scheduled to be completed during the
second half of 2011 in the cities of Chongqing, Tianjin and Shenyang. A
fourth installation is scheduled for 2012 in a yet-to-be determined
location. Each IMAX theatre will be part of a newly constructed
multiplex, and each will utilize IMAX’s digital projection technology.
There are currently 81 IMAX theatres scheduled to be operating in Asia
by 2014, including more than 40 scheduled to be open in China by 2012.
To date, IMAX has signed contracts for more than 220 IMAX digital
projection systems worldwide, with more than 100 currently in
operation.
“Including IMAX theatres in these new locations will provide our
customers with the most immersive premium movie-going experience on the
planet, which is becoming increasingly important as the technologies in
regular movie theatres and in the home continue to improve,” said Ms.
Shirely Ye, General Manager, Guangzhou Jinyi Film and Television
Investment Group, Co. Ltd. “With mainstream Chinese films now being
added to IMAX’s usual slate of Hollywood blockbusters, the decision to
enter the IMAX business was easy to make. We’re very excited to enter
the IMAX business during such a pivotal time.”
“We believe our network growth in Asia is gaining momentum thanks to
the appeal of our new digital projection system and our expanded film
programming for the region,” said IMAX CEO Richard L. Gelfond.
“Entering into partnerships with well-known, experienced entertainment
companies such as Guangzhou Jinyi Film & Television Group, helps us
expand our audience base, strengthen the IMAX(R) brand and drive
interest from other exhibitors in Asia who want to remain competitive
in the market.”
“China is the fastest growing exhibition market in the world, and
Guangzhou Jinyi Film & Television Group’s experience in the exhibition
business with both Hollywood movies and mainstream Chinese films makes
them an ideal partner as we continue to build our presence in the
region,” added Don Savant, IMAX’s Senior Vice President and Managing
Director, Asia Pacific.
The four-theatre deal is the second multi-theatre announcement between
IMAX and a Greater China area exhibition company in three months,
following the June agreement between IMAX and Chinese film studio Huayi
Bros. to release mainstream Chinese films to IMAX theatres in China and
other parts of Asia.
