Marked as the largest deal for IMAX in China in four years, IMAX and Hengdian Films, which owns the country's largest movie and TV shoot base, announced they would expand their partnership by adding 20 new IMAX theaters with laser systems across the country.
"We are delighted to further strengthen our partnership with IMAX through this agreement, which represents a significant step forward in our strategy of developing cinematic multiplex locations and reflects our unwavering confidence in China's film market," said Xu Tianfu, chairman of Hengdian Films.
Xu added that domestic moviegoers have consistently shown enthusiasm and demand for high-quality content from Spring Festival holiday to the summer, a lucrative box office season, signifying a robust revival of the Chinese film industry.
Rich Gelfond, CEO of IMAX, said they are excited to deepen their partnership and expand into new markets with Hengdian Films.
With a rich offering of Chinese movies and Hollywood films, China has continued to see a rapid recovery in moviegoing this year, added Gelfond.
The 20 new IMAX theaters are scheduled to be established in Jingdezhen in Jiangxi province, Ulanqab in the Inner Mongolia autonomous region, and Zhangjiakou in Hebei province, all first-ever locations for IMAX, with more to be rolled out in cities including Hangzhou, Zhejiang province, and Guangzhou, Guangdong province.
