Four new digital IMAX theater systems will be installed in the People’s Republic of China as the result of an agreement with Jiangsu Eudemonia Blue Ocean Cinema Development Co., Ltd.
Blue Ocean will build an IMAX digital theatre system into Suzhou Xinsu Tiandi International’s Cineplex at Xinsu Plaza in August of this year. The remaining three theatre systems are at new construction locations scheduled to open in early 2014: the Kunming Eudemonia Blue Ocean International Cineplex in Kunming; the Eudemonia Blue Ocean International Cineplex in Taizhou; and the Central Eudemonia Blue Ocean International Cineplex in Xuzhou. Jiangsu Province is on the country’s east coast and has a population of 77 million.
“The IMAX brand represents the world’s premiere cinema experience, and it is very much in demand with audiences in China, where IMAX screens significantly outperform conventional screens,” said Mr. Jiang Wenbo, GM of Jiangsu Eudemonia Blue Ocean.
Blue Ocean was established by the state-owned Jiangsu Broadcasting Corporation specifically to develop cinemas, yet another example of how the nation’s exhibition industry is poised to continue its significant expansion over the coming years,” said IMAX CEO Richard L. Gelfond.
A unit under Eudemonia Blue Ocean TV & Movie Group Ltd, a wholly-owned subsidiary of Jiangsu Broadcasting Corporation (JSBC), Jiangsu Eudemonia Blue Ocean Cinema Development Co., Ltd.was founded especially to develop and operate cinemas. Eudemonia Blue Ocean TV & Movie Group Ltd owns several either wholly-owned or share-holding subsidiaries, covering a wide range of businesses including film production, film research, film presentation, movie and television bases, etc.