Cinema chains ready to cash in on movie boom1 min readReading Time: < 1 minute
In the latest signal of growth in the Chinese market, CJ CGV, South Korea’s largest multiplex cinema chain, is partnering with IMAX, a Canadian operator of large-screen movie theaters, to install 15 new theaters in China by 2015.
In spite of its strong growth, the cinema industry still has a huge untapped market. Gelfond estimated that IMAX will have a total of 20,000 screens in China in five years and 40,000 screens in 10 years, as what the United States has today. Even so, that will be considered a low penetration rate, given the size of China’s population.