In one more transfer to extend its footprint in Asia, IMAX is increasing its partnership with Hengdian Movies by way of an settlement for 20 new IMAX with Laser methods throughout China. This marks the biggest deal for brand new IMAX methods in 4 years, reinforcing the sturdy demand amongst Chinese language exhibitors and audiences for the premium expertise with Hollywood and native content material alike.
The brand new IMAX places will likely be in Jingdezhen, Ulanqab and Zhangjiakou, all first-ever places in China for IMAX. Moreover, new places are set to open in Hangzhou, Guangzhou, Chengdu, Jiujiang, Hohhot and Yangzhou, with extra to be confirmed.
The multi-theater pact comes after IMAX China delivered its highest grossing summer season season ever on the field workplace. In 2023, IMAX has earned greater than $18.4M with Christopher Nolan’s Oppenheimer repping 30% of the movie’s opening weekend on lower than 1% of Chinese language screens. The fantasy epic Creation of the Gods additionally grew to become IMAX China’s all-time finest summer season title, with IMAX capturing 10% of the movie’s complete gross. Earlier this 12 months, IMAX recorded its best-ever field workplace end result for the height moviegoing Chinese language New 12 months interval, pushed by The Wandering Earth 2, which now stands because the format’s highest-grossing local-language movie of all time.
Hengdian focuses on movie and tv funding, manufacturing, distribution, exhibition and different derived companies. The corporate has established 503 theaters with a complete of three,154 screens throughout 197 cities in 29 provinces.
Hengdian and IMAX have been in enterprise since 2015. The brand new settlement will convey the entire variety of IMAX places with Hengdian Movies to 27.
Stated Xu Tianfu, Chairman of Hengdian Movies, “We’re delighted to additional strengthen our partnership with IMAX by way of this settlement, which represents a major step ahead in our technique of creating cinematic multiplex places and displays our unwavering confidence in China’s movie market. This 12 months has been pivotal for the trade’s revival. From Chinese language New 12 months to the summer season season, moviegoers have persistently proven sturdy enthusiasm and demand for high-quality content material and a premium expertise. Along with IMAX, we look ahead to making a extra immersive and colourful cinematic journey for audiences throughout extra cities.”
Added IMAX CEO Wealthy Gelfond, “We’re excited to deepen our partnership and broaden into new markets with Hengdian Movies, as extra exhibitors worldwide develop their dedication to IMAX and drive vital progress in our community this 12 months. Because of its strong mixture of native language and Hollywood content material, China continues to see a fast restoration in moviegoing post-COVID and, as we’re seeing in markets world wide, a rebound on the field workplace is commonly adopted by community progress for IMAX.”