IMAX plans to double China theaters in five years

November 21, 2013 – 12:14 pm

Bloomberg reports:

Imax Corp. Chief Executive Richard Gelfond said he plans to more than double the big-screen theater company’s count in China over the next five years as it expands in the fastest-growing film market in the world.

Imax will boost its theaters, which present films in both two-dimensional and three-dimensional formats on large screens with specialized sound systems, to 400 in China from 150 today, Gelfond said.

“I feel like I’ve got the wind at my back,” he said, speaking today at The Year Ahead: 2014, a two-day summit hosted by Bloomberg LP in Chicago. “I’m a huge China bull.”

China passed Japan to become the world’s second-largest film market last year, according to the Motion Picture Association of America. Box office sales reached $3 billion through Nov. 19, a 43 percent increase from 2012, according to Rentrak Corp.

Article >>