IMAX is set to build 75 giant screens in Chinese movie theatres over the next three years. The company announced a deal valued at nearly $100m with China’s largest theatre chain Wanda Cinemas.
According to The Hollywood Reporter the deal will make Wanda the second largest operator of IMAX screens in the world, with the companies operating the theatres in China under a revenue sharing model.
The deal follows a decade of steady pressure from Hollywood and the World Trade Organization for China to allow greater foreign participation in its movie market, where growing consumer confidence boosted gross movie ticket sales 64% in 2010 to $1.5 billion.
