IMAX wins biggest deal in China
The Canadian company IMAX has one of the largest contracts in its history. According to Variety, under the terms of an agreement with Chinese media giant JinYi Media Corp., 40 new cinemas will be equipped in major cities of the country and provincial centers. The last of them will receive viewers already in 2020. In total, JinYi Media Corp., which owns one of China's largest movie theater chains, will operate 60 IMAX screens. According to the head of the company, Richard Gelfond, in the coming years, IMAX plans to increase the number of its halls in China to 1000 pieces. "At the moment, there are already 300 rooms operating, and taking into account this contract, as well as those announced at the beginning of 2016, 270 more will be added to them. We are just starting to exploit the enormous potential of China," he said in a statement. p> Recall that the Chinese movie market is the fastest growing in the world. It is expected that by the end of 2017, the cumulative gross receipts of movie projects at the national box office will exceed $ 10 billion. Thus, China will be able to oust North America from the first place in the ranking of the most profitable movie markets in the world. China's box office grew 50 percent in the first quarter of 2016 compared to the same period in 2015. The Topic of Article: IMAX wins biggest deal in China. |
