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EXCLUSIVE: Imax has inked a deal with Wanda Films, China’s largest exhibitor, to install six Imax systems in new multiplexes across top Chinese markets including Shanghai, Shenzhen, and Guangzhou. Wanda will also relocate and upgrade three of its existing Imax systems to forthcoming locations.
The agreement marks an expansion of their work together and a sign of renewed momentum in the Chinese market, Imax said, noting it’s the company’s first agreement for more than five new theaters in China since February, 2021.
Wanda and IMAX’s partnership dates back more than a decade and spans several major, multi-theatre deals.
“Wanda Film is among our biggest and most dynamic partners in the world, and this agreement further enhances the value of our longstanding relationship with a strong slate of local language and Hollywood releases ahead,” said Imax CEO Rich Gelfond. “This expansion of our biggest partnership in China is a great sign that this critical theatrical market is recovering and ready to reclaim its position as a global box office powerhouse.”
Wanda has the most Imax locations in China, with 371 theaters in operation and another 23 in backlog. Imax is also a partner with Wanda Pictures, the company’s production and distribution arm, on local releases including the 2021 filmed-for-Imax blockbuster title Detective Chinatown 3.