Chinese cinema chain JinYi Media has agreed a 12-theater deal with premium large format tech company Imax. The deal involves upgrading seven of Jinyi’s existing Imax sites to use laser technology, and the installation of Imax kit at five new sites. The move reflects China’s current ability to operate cinemas largely normally, and the country’s 2020 status as the world’s largest theatrical market.
Despite Chinese cinemas having been closed for nearly six months, China’s gross box office this year is forecast to exceed $3 billion. Imax has been a significant driver of the industry’s rebound. Since theaters reopened in late July, Imax sites have grossed nearly $80 million in mainland China with a market share of approximately 3.5%, up from 2.6% during the same period in 2019.
Source: https://uk.sports.yahoo.com/news/chinese-cinema-chain-jinyi-makes-072905696.html