×

CGV Expands IMAX Assault on China

Korean exhibitor places second largest order for giant screens

HONG KONG — CJ-CGV, the South Korean cinema exhibition giant, has placed a massive order for IMAX screens, which it will use to accelerate its expansion into China.

IMAX said that the order for 35 screens is the second largest international deal in its history, after a 75-screen deal with China’s Wanda group.

“The deal includes 30 theaters to be installed in new construction projects across China as well as five previously optional theaters in Korea, now confirmed, which are subject to final documentation. Today’s agreement brings CJ CGV’s IMAX commitment to 95 theaters, with 20 in South Korea and 75 in China, positioning it at present as IMAX’s largest exhibitor partner in Asia,” IMAX said in a statement.

IMAX has been a huge success with audiences in China. Not only do they enjoy the giant screens and amped up digital sound, they have also flocked to its oversized brand image. As of Mar. 31, IMAX has 133 theaters open and 117 theaters in backlog in Greater China.

Chinese and Korean companies have also been among the first local-language film producers to make or convert their movies for the giant screen format. “Since 2010, the company has released 10 local-language films in the region, with three thus far in 2013 and four planned for the remainder of the year,” IMAX confirmed.

“We are delighted to expand our IMAX network as it is a key strategy to supporting our growth across Asia Pacific, which has shown strong demand for IMAX’s immersive experience,” said CGV’s CEO, Seo Jung.

CGV previously placed an order for 25 IMAX screens, also to be built into its expanding chain of mainland Chinese multiplexes.

Under the new deal CGV also agreed to install IMAX’s next-generation laser digital projection system in a major metropolitan theater in Korea by the end of 2015. Laser technology is the next generation of digital projection equipment and is expected to deliver greater brightness and darker blacks.

More Film

  • Krysanne Katsoolis Sets Up Viewpark With

    Krysanne Katsoolis Sets Up Viewpark With $200 Million Fund

    Veteran film industry executive Krysanne Katsoolis has launched Viewpark, which will finance, package and release high-end film and TV content. Viewpark has partnered with former Wall Street executive Keith Price’s Obsidian Asset Management to create a multi-million dollar fund for the production and marketing of its slate, Katsoolis told Variety. Obsidian, based in London and [...]

  • Elle FanningChopard Trophee dinner, 72nd Cannes

    Elle Fanning Faints at Cannes Dinner Party

    Elle Fanning, a member of this year’s Cannes jury, had a brief scare Monday night when she fainted at the Chopard Trophee dinner. Festival director Thierry Fremaux had just introduced actor Francois Civil onstage when Fanning, star of “The Beguiled” and “Maleficent,” collapsed and fell off her chair nearby. Fanning was sitting at a table [...]

  • 'Frankie' Review: Ira Sachs' American Version

    Cannes Film Review: 'Frankie'

    As a filmmaker, Ira Sachs, the director of “Love Is Strange,” “Little Men,” and (his masterpiece) “Keep the Lights On,” is like a flower that keeps sprouting new tendrils, growing ever more beautiful and complicated and delicate. His new movie, “Frankie,” may the closest that anyone has come to making an American version of an [...]

  • AMC theater

    AMC Stubs A-List Becomes No. 1 Movie Subscription Service

    AMC Theatres’ Stubs A-List program, which allows customers to see three movies a week for $19.95 a month, has hit 800,000 subscribers. That figure is well ahead of the original projection, announced last June, for 500,000 subscribers by the end of its first year. According to AMC, the program is now the No. 1 moviegoing [...]

  • Millie Bobby Brown on Her Feature

    Millie Bobby Brown Calls Her Film Debut in 'Godzilla' 'Kind of Unreal'

    Millie Bobby Brown is no stranger to stardom thanks to “Stranger Things,” but she still can’t believe she’s making her feature film debut in the monster reboot “Godzilla: King of the Monsters.” “It’s kind of unreal,” Brown told Variety at the premiere. “I’m like, ‘What is happening right now?’ It’s so bizarre and unreal, and [...]

  • Dakota Johnson Tracee Ellis Ross

    Dakota Johnson, Tracee Ellis Ross Co-Starring in Comedy 'Covers'

    Dakota Johnson and Tracee Ellis Ross will co-star in “Covers,” a comedy set in the music scene in Hollywood. “Late Night” director Nisha Ganatra is helming from a screenplay by Flora Greeson. Focus Features is partnering with Working Title Films on the movie. Working Title’s Tim Bevan and Eric Fellner will produce with Alexandra Loewy [...]

More From Our Brands

Access exclusive content