Imax Set to Release Bollywood Films in India
TORONTO - Imax is eyeing the release of digitally remastered Bollywood films in India after inking a four-theater deal with SPI Cinemas Private Ltd.
“…this agreement puts us in position to consider the local release of Bollywood films, which will be key to the success and growth of Imax in this strategically important region of world,” Imax CEO Richard Gelfond said Monday as he unveiled a deal to install four digital Imax theaters in new SPI Cinemas multiplexes in India.
The move to super-size Bollywood films follows Toronto-based Imax starting to release Chinese-language movies on its large format screens in China as it continues to expand in BRIC nations, and away from a maturing North American market.
Gelfond said India was ripe for the Imax format because its exhibition market is growing and around 90% of box office revenue flows from non-English language movies.
The SPI Cinemas deal brings to 13 the number of theaters Imax is set to open.