Equipment firms foresee Asian bonanza
Giant screen company IMAX says it can see 12-fold growth in China alone as screen numbers rise from the 24 that will be operational from January for the release of Tron: Legacy to 300 a few years out.
If that sounds fanciful, the company in November informed investors that it already has 100 under contract.
The company’s growth spurt comes as a result of what Greg Foster, chairman and president of film entertainment at IMAX, calls a perfect storm.
“The economy turned at the right time for us,” he says. “And where we used to be focussed on our physical strengths – seating, screen size, sound – it is now about branded entertainment and emotional attachment.” That plays strongly in China with its newly-affluent and aspirational demographics.