Bona Film Group Signs 30-Theater Deal with IMAX

The new cinemas will be rolled out five per year until 2022. 

IMAX added to its backlog of upcoming theater builds, just days after announcing a record number of new signings but decreased profit for 2016.

The agreement calls for the two companies to open five theaters per year until 2022, the pair said in a statement. The companies did not specify the locations of new theaters, nor whether they would be operated on a revenue-sharing basis.

As of January 2017, Bona, now privatized after five years on listed on NASDAQ, has 41 theaters in operation with 336 screens.

IMAX China operates at 424 cinemas in China, 261 of which are operated on a revenue-sharing basis. The company installed 117 new screens in 2016, and signed orders for another 238. IMAX China is listed on the Stock Exchange of Hong Kong.