Hengdian Films and IMAX Corporation, along with IMAX China, announced a significant expansion of their partnership on Friday, signing an agreement to add 20 new IMAX locations across China, all of
An IMAX theater in China. [Photo courtesy of IMAX China]
The agreement represents the largest deal for new IMAX systems in the past four years, underscoring a revived demand among Chinese exhibitors and audiences for the IMAX experience, with both Hollywood and local content.
"We are delighted to further strengthen our partnership with IMAX through this agreement, which represents a significant step forward in our strategy of developing cinematic multiplex locations and reflects our unwavering confidence in China's film market," said Xu Tianfu, chairman of Hengdian Films. "This year has been pivotal for the industry's revival. From the Chinese New Year to the summer season, moviegoers have consistently shown strong enthusiasm and demand for high-quality content and a premium experience. Together with IMAX, we look forward to creating a more immersive and colorful cinematic journey for audiences across more cities."
"We're excited to deepen our partnership and expand into new markets with Hengdian Films, as more exhibitors worldwide grow their commitment to IMAX and drive significant growth in our network this year," stated Rich Gelfond, CEO of IMAX. "Thanks to its robust mix of local language and Hollywood content, China continues to see a rapid recovery in moviegoing post-COVID and, as we are seeing in markets around the world, a rebound at the box office is often followed by network growth for IMAX."
Hengdian Films and IMAX have enjoyed a successful partnership since 2015, and the latest agreement will increase the total number of IMAX locations under Hengdian Films to 26. The new IMAX theatres are slated for Jingdezhen, Ulanqab, and Zhangjiakou, marking IMAX's debut in these cities. Additional openings are planned for Hangzhou, Guangzhou, Chengdu, Jiujiang, Hohhot, and Yangzhou, with more locations yet to be confirmed. All 20 new locations across China will feature IMAX with Laser, the company's most cutting-edge theater technology.
The multi-theatre deal comes after IMAX China delivered its highest-grossing summer season ever at the box office. Christopher Nolan's "Oppenheimer" has so far raked in over $18.4 million in China for IMAX, accounting for 30% of the film's opening weekend revenue from less than 1% of the screens. The Chinese mythological feature, "Creation of the Gods I: Kingdom of Storms," also set a new record for IMAX China as the top-grossing summer title, with IMAX securing 10% of the film's total box office. Earlier in the year, IMAX marked its best Chinese New Year box office ever, propelled by "The Wandering Earth 2," which remains IMAX's top-grossing local language film to date.
