IMAX and China Film Group expand partnership and add 2 more theatres in China

8 September 2010 18 h 55 min 13 comments

Agreement Builds on Success of Existing Theatre; Capitalizes on Strong Consumer Interest in The IMAX Experience(R) and Box Office Success

Largest State-Owned Film Enterprise to Operate a Total of Three IMAX(R) Theatres by End of 2012
NEW YORK and SHANGAI, China — IMAX Corporation and China Film Group Corporation, China’s largest state-owned film enterprise, today announced an agreement to expand their partnership with the installation of two additional IMAX systems. 

The first system is scheduled for installation in the city of Shenzhen, and is expected to open in 2011.  The second system is scheduled for installation in the city of Ningbo, and is expected to open in 2012. 

Today’s agreement brings the total number of IMAX theatres to be operated by China Film Group to three by the end of 2012 and the total number of IMAX theatres scheduled to be operating in China to 67 by 2014. With this theatre announcement, the Company’s announced number of theatre systems signings year-to-date has increased to 130 worldwide, which compares to 35 system signings in all of 2009.

“Our first IMAX location, which opened in January, has improved the performance of our complex by delivering incremental box office returns and a broader range of Hollywood films, and we’re looking forward to IMAX releasing important Chinese films, such as John Woo’s Flying Tigers,” said Mr. Han Sanping, Chairman of China Film Group Corporation. 

“We are very pleased to expand our relationship with IMAX.”

IMAX’s Chief Executive Officer, Richard L. Gelfond, commented from Shanghai, “As a studio and exhibitor, China Film Group is an excellent strategic partner for IMAX. We’re very pleased to expand our relationship with them to feed consumer demand in China with more locations and a broader range of content for Chinese moviegoers.”

Don Savant, Senior Vice President & Managing Director, Asia Pacific, added, “We believe the recent performance of Inception in IMAX 2D demonstrated Chinese consumers’ appetite for the premium IMAX experience with sixteen IMAX theatres generating approximately 7 percent of the total China box office on 0.0037 percent of the 3,816 total movie screens exhibiting the film.

About China Film Group
China Film Group Corporation (CFGC) is the most comprehensive and extensive state-owned film enterprise in China. CFCG facilitates film production, distribution and exhibition as a coordinated process and integrates film, TV and video into a single entity. Since its establishment in 1999, CFGC has produced more than 200 feature films. Every year CFGC is able to distribute 100-plus films.  CFGC distributed blockbusters such as The Redcliff, Forever and Enthralled, The Warlords, The Promise, The Curse of Golden Flowers, The Fearless and The Banquet. In recent years, CFGC has formed 7 cinema circuits with equity investment and contracted more than 400 theatres, which accounts for 40% market share of Chinese box-office.  It is now building its own proprietary cinema circuit with an objective of 100 multiplexes. CFGC is also the sole importer of foreign theatrical movies in China and a major exporter of Chinese films.  CFGC has established business relationships with more than 400 film institutions from more than 100 countries and regions.  Its annual event Beijing Screenings has become an important window to showcase China’s film culture to the world and exchange platform for film co-productions. 

About IMAX Corporation
IMAX Corporation is one of the world’s leading entertainment technology companies, specializing in immersive motion picture technologies.  The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe, with IMAX theatres delivering the world’s best cinematic presentations using proprietary IMAX, IMAX® 3D, and IMAX DMR® technology.  IMAX DMR is the Company’s groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience.  The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers.  As of June 30, 2010, there were 447 IMAX theatres (325 commercial, 122 institutional) operating in 47 countries.

SOURCES: Imax, China Film Group (08/09/2010)

Related posts:

Leave a Reply

You must be logged in to post a comment.

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (chinadaily.com.cn, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (chinadaily.com.cn, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal 36kr.com said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (chinadaily.com.cn, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →