On the heels of a record breaking Chinese New Year, IMAX (NYSE: IMAX), IMAX China (HKSE: 1970) and Broadway announced an agreement of four new IMAX theaters across several iconic locations in downtown Shanghai, including One East, located in the heart of Huangpu Riverside, the first flagship property managed and operated by Brookfield Properties in Shanghai.
The deal will bring four new cutting-edge IMAX® with Laser systems to key commercial locations in one of the country’s most successful theatrical markets. It also marks an expansion of the longstanding partnership between IMAX and high-end exhibitor Broadway, which currently includes IMAX screens across eight of Broadway’s top-performing theaters in China. With the new agreement, IMAX’s theatre network in China has developed to nearly 1000 total screens, including 248 in backlog.
“Moviegoing has come roaring back post-pandemic in China, offering the world a glimpse of the pent-up consumer demand that awaits multiplexes worldwide,” said Rich Gelfond, CEO of IMAX. “Broadway is long celebrated for providing the kind of premium experiences our fans know and love, and we’re excited to grow our partnership with them and further establish IMAX as the go-to destination for immersive blockbuster entertainment in China.”