Imax Signs 19-Theater Deal in China
TORONTO – Imax has inked a 19-theater deal with China's biggest state-owned exhibitor as it increases its footprint in that fast-expanding Asian market.
The agreement with Shanghai Film Corporation, Shanghai United Circuit Co. and Shanghai SFG-EPR Cinema Development & Management will see the giant screens installed in new construction projects throughout China.
The new theaters, to be mostly open by the end of 2015, bring Shanghai Film's commitment to Imax theaters to 22 in all after a decade in business with the Canada-based exhibitor.
The latest purchases make Shanghai Films the fifth-largest buyer of Imax's giant screen theaters internationally.
Shanghai Film has the second-largest exhibition market share in China.
Shanghai Film Group, Shanghai Film's parent company, opened its first commercial Imax theater in China in 2004 and went on to open two additional screens in 2006 and 2010.