Imax plans to open 75 new theaters in China by 2014
As reported by The LA Times recently, China’s theater industry is experiencing a significant growth spurt that may explain Imax Corp.’s interest in expanding there. The Canadian company will be joining forces with China’s largest cinema operator, Wanda Cinema Line Corp. to bring 75 new theaters to 25 locations by 2014, which would bring the total amount of Imax theaters in China up to 177. Imax’s rapid expansion represents its desire to stay a main player in the world of 3-D and high definition cinema.
China is presently the fourth largest movie market in the world and pulled in a record $1.5 billion last year. To date, Imax has 518 theaters in 46 different countries worldwide.