Latest News

Back to Latest News back

 

China’s Wanda Group commits to build up to 120 new Imax screens by 2021

China’s Wanda Group commits to build up to 120 new Imax screens by 2021
January 7, 2014

China's Wanda Cinema Line Corp. has signed a deal with Imax to build up to 120 new giant-format movie theatres in the country by 2021, making China Imax's biggest market in the world.

Wanda, the movie exhibition unit of real estate and media conglomerate Dalian Wanda Group, plans to open 20 new Imax theatres a year from 2016, in addition to the 82 Imax theatres that it already operates in shopping and entertainment centres in major cities across China.

In July, Wanda and Imax revised an existing joint venture agreement, stipulating that Wanda would build at least 40 and as many as 120 new theatres over the next 12 years. The new deal ups Wanda's commitment to 120 new theatres.

The Wanda deal also adds momentum to Imax's pivot towards brighter laser projection technology in its cinemas. Half of Wanda's new 80 Imax theaters will be outfitted with the new laser technology, giving moviegoers the highest-definition images.

This latest Wanda deal caps off an ambitious year in the entertainment sector for the conglomerate, led by Wang Jianlin, China's richest individual.

In September, the company announced plans to build an $8.2 billion film studio and entertainment facility in the eastern Chinese city of Qingdao. The company flew in a slew of Hollywood A-listers, including Leonardo DiCaprio, Nicole Kidman and Harvey Weinstein, to add glitz and lend credence to the announcement.

Also in September, Wanda donated $20 million to the Academy of Motion Picture Arts and Sciences for a wing of its new film museum in Los Angeles.

Wang has said his ambition is to build Wanda into one of the world's biggest players in the "culture industry."

A boom in cinema building has been under way in China since at least 2007, when the country had approximately 3,000 movie screens. According to film market research company EntGroup, today there are 17,740 screens in China.

15th December 2009 - IMAX EYES CHINA GROWTH


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

XBODY Australia Pty Ltd

PROVEN BUSINESS CONCEPTS WITH XBODY XBody’s goal is to see you and your EMS business succeed. That is why we don’t just sell equipment, we provide know-how, expert knowledge,…

read more

Fitness / Technology / Wellness

 
 

Smart Connection Consultancy

Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…

read more

Consultants / Recreation / Sport / Surfaces

 
 

SYNERGY FITNESS

The Calgym/Synergy group has had a long and proud history since 1976 as world leaders in the innovation, design and evolution of commercial strength and conditioning equipment. The Synergy group was…

read more

Fitness / Technology / Wellness

 
 

VIVATICKET

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  19th July 2018 - ENTA AUSTRALASIA REBRANDS AS VIVATICKET 17th October 2016…

read more

Attractions / Entertainment / Sport / Ticketing / Venues

 
 

Crystal Pools

Crystal Pools has a solid history of performance on a wide variety of government and commercial projects and is the name behind many of Australia’s most innovative and ambitious aquatic…

read more

Aquatics / Design

 
 

Clubware

Clubware’s online gym software is not your run of the mill management system. It has been carefully designed to incorporate all the elements that a fitness club would need. How did we do that?…

read more

Access / Billing / Fitness / Recreation

 
 

AEROBIC MICROPHONES AUSTRALIA

Aerobic Microphones Australia provides audio products for the fitness industry. Products include the sweat resistant Cyclemic and Aeromic headworn microphones and pouchbelts that are made in…

read more

Fitness / Technology

 
 

TJS Services

TJS Services is a leading national facility services provider. We deliver quality cleaning, maintenance, construction and facility management services to over 1,500 sites Australia wide.  Our…

read more

Hospitality / Retail / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business