This week, IMAX announced a significant new partnership with Wanda Film, the largest cinema operator in China. Wanda will expand its deployment of IMAX technology throughout its network, adding 25 new IMAX installs and upgrading 61 of its current 380 IMAX screens to use IMAX’s latest laser projection.
The new agreement will bring additional strength to IMAX’s position in the Chinese exhibition market. IMAX CEO Rich Gelfond is expressing confidence that a larger number of Hollywood titles will be given a theatrical release in the Chinese market in the upcoming years.
2022 and 2023 have seen an increased number of Hollywood movies released in China, and recently Marvel’s Deadpool & Wolverine was given a July 26th release date. In addition, certain Chinese movies with blockbuster budgets are beginning to be filmed using IMAX technology, including the blockbuster hit DECTIVE CHINATOWN 3.
While many Hollywood studios and global exhibitors have dialed back on their investments in the Chinese market, IMAX is staying the course on its multi-decade strategy to take a leading position in the world’s second-largest box office market.