Movies

Imax & Omnijoi expand revenue share partnership in China with 15-theatre deal

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MUMBAI: Imax Corporation and Omnijoi Cinema Development Co., Ltd, (erstwhile Jiangsu Eudemonia Blue Ocean Cinema Development Co., Ltd.) have expanded their revenue sharing arrangement with the addition of 15 new Imax theatre systems in China.

 

This agreement brings Omnijoi Cinemas' total Imax commitment to 31 theatres and positions the exhibitor as the third-largest Imax exhibitor partner in China and fifth-largest globally.

 

"Today's agreement will see Omnijoi Cinemas nearly double its Imax footprint ? a significant commitment that underscores the success of the Imax business model and the continued demand for The Imax Experience among Chinese moviegoers. Omnijoi is a valued partner that shares our passion for innovation and quality and together we look forward to continuing to change the way audiences in China experience today's biggest blockbusters," said Imax CEO Richard L. Gelfond.

 

"This partnership is a direct result of the success of our existing Imax theatres that have delighted our guests with the best Chinese and Hollywood films in the world's most immersive cinematic format. As we continue to expand our network of cinemas, Imax will be a flagship attraction at our upcoming complexes ? one we are confident will continue to support our business," said Omnijoi Media Group vice president Yang Shu.

 

Omnijoi Cinema Development was founded especially to develop and operate cinemas. It has over 15 locations of five star Cineplex as of 31 May, 2015. The company is planning to invest billions RMB to build 150 Cineplex with 1200 screens and become a leading exhibitor in China.

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