IMAX will add 35 new theaters in China and South Korea as part of a joint venture with South Korean theater chain CJ CGV Holdings, the companies said Monday.
The deal substantially increases the big screen company's presence in Asia, which has become a key driver of box office revenue. Last year, China surpassed Japan to become the second largest market for movies in the world. Analysts predict that by 2020, it may eclipse the United States as the dominant source of box office revenue.
Related Articles:
How IMAX Became the Hottest Brand in Movies
MoviePass Goes Netflix -- Can It Avoid Theater Owners' Anger This Time?
3 Things to Watch in Sun Valley: Hulu, Online Video and John Malone
read more Reported by The Wrap 9 hours ago.
The deal substantially increases the big screen company's presence in Asia, which has become a key driver of box office revenue. Last year, China surpassed Japan to become the second largest market for movies in the world. Analysts predict that by 2020, it may eclipse the United States as the dominant source of box office revenue.
Related Articles:
How IMAX Became the Hottest Brand in Movies
MoviePass Goes Netflix -- Can It Avoid Theater Owners' Anger This Time?
3 Things to Watch in Sun Valley: Hulu, Online Video and John Malone
read more Reported by The Wrap 9 hours ago.