Imax sells 8 more digital screens in China
To Guangzhou Jin Yi Film and TelevisionTORONTO -- Chinese exhibitor Guangzhou Jin Yi Film and Television has ordered eight more super-sized Imax screens for the Chinese market.
Guangzhou Jin Yi Film, launched in 2004 by launching six multiplex theatres in Guangdong province with Warner Bros. International Cinemas as the majority partner, has tripled the size of its Imax rollout to 12 screens in all.
The first Imax digital theatre will launch by December, followed by another five in 2011, four in 2012, one in 2013 and one in 2014.
"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," Shirley Ye, general manager of Guangzhou Jinyi Film and Television Investment Group, said in a statement.
Since partnering with Warner Bros. in 2004, Jinyi Film & Television has opened 27 theatres in China, with another 100 theatres in backlog.
In April 2008, the Guangzhou Jinyi Pearl River Cinemaline, co-founded by Guangzhou Jinyi Film & Television Investment Group and Guangdong Pearl River Film Company, launched and now runs 40 cinemas throughout China.
Imax is to release its latest financial results on July 29.