)According To The Daily) Wanda Film, China’s largest cinema operator, has expanded its business relationship with Imax Corp. in a huge deal that straddles technology and content.
With 381 Imax installations, Wanda alone operates more Imax venues than most countries. The new agreement will see Imax upgrade 61 of its top performing sites to the latest ‘IMAX with Laser’ technology.
These include top-grossing Imax locations in Tier 1 cities Beijing, Shanghai, Guangzhou, and Shenzhen. Additionally, Wanda Film will renew up to 37 existing Imax locations for another five years and, subject to mutual understanding, add up to 25 new Imax locations over the next three years.
The agreement was announced on the sidelines of the ongoing Shanghai International Film Festival. Imax China CEO Daniel Manwaring was a speaker at a SIFF forum on Sunday. The two companies will also explore opportunities to collaborate on content and experiences across documentaries, music, gaming, and sports. Production and distribution unit, Wanda Pictures has an existing commitment for some titles. In the past these have included 2021’s ‘Filmed for Imax’ hit “Detective Chinatown 3.”
“For years, based on our core commitment to elevating moviegoers’ viewing experience, Wanda Film has been a pioneer in adopting and promoting premium projection technology to create a state-of-the-art film viewing environment,” said Chen Zhixi, chair of Wanda Film. “We successfully ensured the long-term collaboration with Imax, a major partner. Alongside our joint efforts in upgrading moviegoing experience, we will work with Imax to enhance projection standards for a wide range of films, to allow even more moviegoers to discover the wonder and joy of the immersive experience in theatres.
“With a strong, balanced slate of Chinese and Hollywood blockbusters in the pipeline over the next several years, this landmark agreement with Wanda Film fortifies Imax’s position in China’s largest circuit at a time of immense opportunity,” said Rich Gelfond, CEO of IMAX. “We believe the strategic partnership between Ruyi and Tencent can open new doors for Wanda Film and IMAX to collaborate across blockbuster films as well as documentaries and events in music, gaming, and sports,” added Manwaring.
Chinese and Hollywood titles are being lined up to release in Imax format in China over the summer season, including “Decoded” from filmmaking partner Chen Sicheng.
The 2025 global film slate will feature a record 14 ‘Filmed for Imax’ releases, including a yet-to-be-announced Chinese tentpole during the pivotal Lunar New Year period, which kicks off on Jan. 28, 2025.
Wanda Film, which is listed on the Shenzhen stock exchange, operates China’s largest circuit of multiplexes and retains a stake in Hollywood producer Legendary Entertainment (“Dune”).
