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IMAX to roll out 40 new theatres across China, after boom in first-half box office income

IMAX China Holdings, the exclusive licensee of ultra-wide screen IMAX film technology in Greater China, will join forces with South Korean cinema chain CGV to provide 40 new theatres on the mainland, after IMAX theatres posted record first-half box office income in the country.More than half of the new theatres will adopt IMAX’s new laser projector technology, which provides brighter images and sharper resolution, according to Jim Athanasopoulos, chief financial officer of IMAX China, the Hong… Source link

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IMAX to show more Chinese-language films after sci-fi blockbuster The Wandering Earth sets box office record

IMAX, the Canadian company that patented wide-format film, is betting big on Chinese-language films after the sci-fi blockbuster The Wandering Earth generated record box office earnings for the provider of theatre systems on the mainland.Chief financial officer Patrick McClymont told the South China Morning Post in an exclusive interview that China will be able to accommodate 1,200 IMAX screens, nearly double its current number.“As the network continues to grow, it becomes much more about the… Source link

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IMAX posts first drop in annual profit since 2016 as investments in expansion outpaced growth in box-office receipts

IMAX China Holding, a unit of the Canadian company that patented wide-format film, posted its first decline in annual earnings since 2016, as its investments for expanding its theatre network outpaced the growth in box-office receipts from screening its movies.Net profit fell 2 per cent to US$42.76 million last year, missing the US$48.61 million estimate in Bloomberg’s survey. Sales declined by 7 per cent to US$117.5 million, below the US$126.75 million expected by analysts.The company’s… Source link

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