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Imax Chief Executive Says China Likely to Overtake U.S. as Biggest Market

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http://www.bloomberg.com/news/2011-03-24/imax-to-open-100-cinemas-globally-a-year-for-2-3-years-ceo-gelfond-says.html

Imax Corp. (IMAX), the operator of large- screen movie theaters, says it is likely China will overtake the U.S. as its biggest market as sales growth in accelerates in the world’s most populous nation.

Contribution to sales from China, the company’s fastest growing market, is expected to increase to about 25 percent in the next five years from 10 percent currently, Richard Gelfond, the company’s chief executive officer said in an interview today. Box-office sales for China surged tenfold to 286 million yuan ($43.6 million) last year from a year earlier.

“More than half of our revenue comes from the U.S., but we do think it’s likely China will overtake the U.S. as the biggest market at some point in the future,” Gelfond said.

Imax, based in Mississauga, Ontario, is exploring options to expand beyond its core market, he said earlier this month. Developing markets present “enormous opportunities,” with China and Russia being the most exciting while Europe is under- served, he said.

Gelfond said today he also sees potential in India. The company plans to open at least 100 theaters annually worldwide for the next two to three years, he said.

Imax will open 75 more theaters with Wanda Cinemas Corp., its biggest partner in China, by the end of 2014, it said today. The agreement brings the total number of Imax theaters slated to be open in mainland China, Hong Kong and Taiwan to 177 over “the next few years,” according to a release distributed by Globe Newswire.

Imax more than tripled its global box-office sales for films over two years to $587 million in 2010, according to the company.

Its shares have declined 5.2 percent this year in New York trading, compared with the 3.2 percent gain in the benchmark Standard & Poor’s 500 Index.

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Another surprise of "China taking over"... after reading "take over IT", "take over science".
 
A movie theater in china w/ its billions in population_ will have more business than in the US. wow! go figure ...


In other news the IMAX experience enjoyed in the US won't be the same in China. In china the company reported, the seats will be made with lead tainted plastic and attendees will be asked to fill out a " don't sue when you get poisoning from us " form ( or wait a minute- its china , scratch that_ no forms needed- coverage through, shzit happens policy is in effect ).
 
Im not however sure on China ratio of age group in 50 years time though.

Though could mean the only child in the house, can have way more extra money to spend on cinema and stuff.
 
A movie theater in china w/ its billions in population_ will have more business than in the US. wow! go figure ...


In other news the IMAX experience enjoyed in the US won't be the same in China. In china the company reported, the seats will be made with lead tainted plastic and attendees will be asked to fill out a " don't sue when you get poisoning from us " form ( or wait a minute- its china , scratch that_ no forms needed- coverage through, shzit happens policy is in effect ).

I would rather sit on lead tainted plastic seats watching an IMAX film than anything from Bollywood. In fact I would prefer water boarding to watching anything from Bollywood.
 
I would rather sit on lead tainted plastic seats watching an IMAX film than anything from Bollywood. In fact I would prefer water boarding to watching anything from Bollywood.

Because Bollywood movies are "Chinese to you"

By the way, thats a saying in the UK, when you dont understand a thing someone is saying.
 
Because Bollywood movies are "Chinese to you"

By the way, thats a saying in the UK, when you dont understand a thing someone is saying.

They are referring the language to be too difficult. And it is not only in English. A lot of other languages has similar saying referring something difficult to understand as Chinese literature or ancient Chinese literature.

I don't think Bollywood difficult to understand, I just find it boring.
 
I just watched Slumdog Millionaire, is it a Bollywood movie? Anyway I love the movie. Although I am shocked by the living condition in the slum in Mumbai the financial center of India. And the religious tension was also shocking. The organized crime, in comparison, was actually not that bad anymore since that's quite common in any country.

A bit off topic, but combining the BBC series I just watched on Indian's insurgency problem, I almost feel that today's India is actually kind of like the pre-1949 China: massive corruption, huge income gap, nation-wide insurgency, local warlords, and a very week central government. Maybe its a bit far off ... just my feeling.
 
A movie theater in china w/ its billions in population_ will have more business than in the US. wow! go figure ...


In other news the IMAX experience enjoyed in the US won't be the same in China. In china the company reported, the seats will be made with lead tainted plastic and attendees will be asked to fill out a " don't sue when you get poisoning from us " form ( or wait a minute- its china , scratch that_ no forms needed- coverage through, shzit happens policy is in effect ).

IMAX doesn't build movie furniture, genius. They make movies and the digital systems that go with it.
 
An Indian American--the latter China is set to overtake and the latter already left is the dust--no wonder he's so sour about Imax's first class service in China.
 
If China didn't become a larger market than the US with roughly quadruple the population it would be a little weird. Well the same will go for India with time. Wonder how this will affect prices around the world though, especially for food.

We'll live in interesting times...
 
A movie theater in china w/ its billions in population_ will have more business than in the US. wow! go figure ...


In other news the IMAX experience enjoyed in the US won't be the same in China. In china the company reported, the seats will be made with lead tainted plastic and attendees will be asked to fill out a " don't sue when you get poisoning from us " form ( or wait a minute- its china , scratch that_ no forms needed- coverage through, shzit happens policy is in effect ).

HaHa a banned member still trolling looking forward for another ban?
 
There is a bash India story on the front page of the Wall Street Journal. It's part of their new 'Flawed Miracle' series.

Highlights:
-46% of children under 3 are too small for their age.
-Calorie consumption by bottom 50% has DECLINED since 1987
-the number in deep poverty is growing (101 million in 2005 vs. 111 million today)
-India adds 1/10 the electricity generation as China each year
-Potential to grow at 12%, but only 8.5% growth, inflation is 8%, food inflation is 10%

This looks like another Haiti in the making.
 

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