IMAX lowers prices in China
IMAX hopes to attract more individuals in the fast growing market.
by Lei Jin
Date Published: 02/14/2011
IMAX theatre. Photo courtesy of Gizmodo.com
IMAX corporation, founded in 1968, is a Canadian company that makes IMAX projectors and cameras and operates in film development, production, and distribution. CEO Richard Gelfond recently told Xinhua that IMAX is planning to lower the prices of tickets in China and build over 100 brand new IMAX theaters on Chinese soil. By lowering the price, IMAX hopes to attract more individuals. Gelfond states that the company has identified 350 locations in China that are suitable for construction.
As the household income continue to grow in China, entertainment will become a bigger and bigger market. IMAX believes that while China is now the second largest market after the United states, the rate at which China's market is growing is quicker, and they may soon surpass the United States.
China's first IMAX film was the hugely popular Aftershock, by Feng Xiaogang, released during the summer of 2010. China's second IMAX film is John Woo's upcoming action film: the joint China/Hollywood production Flying Tigers, which will premiere in spring of 2011.