IMAX plotting massive China expansion

15:05, February 12, 2011      

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IMAX CEO Richard Gelfond said that he is considering lowering the price in China in order to attract more people to its theaters, in his Xinhua interview on Feb. 10. There will be a boom in the number of the popular IMAX theaters in China, with 100 expected to open in the next few years.

"We have identified 350 locations that are suitable for opening IMAX theaters in China." Gelfond said, "I've been to China five times in the last six months. I haven't gone to Los Angeles as much."

From IMAX's market research, there is a strong profit outlook in China, which is the fastest growing market in the world, he said.

He also said there is rapidly emerging entertainment demand in China within the social context of the improving standard of living being enjoyed by the Chinese people. Thus to get more involved in this country's entertainment development, IMAX Corporation will run some temporary theaters in some of the small and medium-sized cities.

Founded in 1968, the Canadian company IMAX Corporation designs and manufactures IMAX cameras and projection systems as well as film development, production, post production and distribution to IMAX-affiliated theaters worldwide.

By Li Yancheng, People's Daily Online


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