IMAX Corporation (NYSE: IMAX; TSX: IMX) and SMI Corporation Limited, a leading Chinese entertainment and media company that operates theatres under the name Stellar Cinemas, today announced an expansion of the parties’ revenue sharing arrangement with the addition of four new IMAX ® theatres in China. The deal brings the exhibitor’s total IMAX commitment to 11 theatres.
“IMAX has become a part of the moviegoing culture in China, where audiences have embraced IMAX as the best way to experience the biggest Hollywood and Chinese blockbusters,” said Mr. Zheng Jichong, Executive Managing Director, SMI Corporation Limited. “IMAX shares our commitment to quality and innovation and we are delighted to build on our IMAX success with today’s agreement.”
“Our network in Greater China has more than doubled since 2011 and with the continued growth of the middle-class, coupled with the strengthening of the IMAX brand, we believe China will be our largest market in the world within the next five years,” said Don Savant, IMAX Managing Director, Asia Pacific. “We’re pleased to expand our partnership with Stellar Cinemas – a strategic partner that will help to support the future growth of The IMAX Experience ® in this important market.”