IMAX Expands Theaters Deal With Shanghai Film Corp.

Shanghai

Shanghai Film Corporation, one of China’s largest vertically integrated movie groups, is to install two further Imax screens. The new screens are in addition to the 19 it already has on order and will lift SFC’s total commitment to 25.

The theaters are destined to be added to new construction projects in Shanghai and Beijing.

“We believe these complexes at premium sites in top-tier cities will win the favor of moviegoers and stabilize our leading position in China’s exhibition industry,” said Yang Wenhong, vice chairman of SFC.

“In 2014, our Chinese box office grew by approximately 40% compared to 2013. We attribute much of our success to the strength of strategic relationships, such our partnership with SFC that has supported our brand and growth in China for over a decade,” said IMAX CEO Richard Gelfond in a statement.

Shanghai United Circuit, a subsidiary of SFC, is one of the leading theater chains lines in China. It has over 220 affiliate complexes in 23 provinces with over 1,200 screens and 16 Imax screens. In 2014, SUC had gross B.O. of $370 million (RMB 2.27 billion) for a 7.7% share of total China revenues.

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