Canada's Imax, purveyor of super-sized cinema screens, has signed a deal with China Film Group Corp (CFGC) to install one of its jumbo screens in a new multiplex in Tianjin, this October. The deal brings to 41 the number of screens Imax expects to have by 2012 in China, which is its second-largest market after the US.
The firm launched its first screen in China in 2001 and its continuing expansion in China shows that even in a country where movies are often out on pirated DVD before they hit the cinemas, consumers are still prepared to pay to see a movie in a theatre, particularly if its served up on a super-sized screen.
State-owned CFGC is the sole importer of foreign theatrical movies in
In recent years, CFGC has formed seven 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.