Imax adds China screens with Wanda, betting on blockbusters

Imax Corp.'s Chinese arm is aggressively adding screens across the country, betting on big local and US productions to boost its sales in the world's second-largest film market.
Partner Wanda Film Holding Co., China's largest movie exhibitor, is planning to replace 27 premium format screens with Imax's larger high-tech jumbo screens in cities from Beijing to Xi'an, the companies said Monday. Imax China Holding Inc., which currently runs about 800 screens in China, drew a record 22 million moviegoers from January to May, up 106% from a year earlier, largely thanks to fantasy film 'Ne Zha 2.' The overall movie attendance in China rose about 27% in the same period, the firm said.
Wanda operates more than 50% of China's Imax screens, Li Jinbo, assistant president of Wanda Film and general manager of Wanda's cinema chain, said at a corporate event in Shanghai. The cinema chain is seeking to boost the number of premium format auditoriums across the country, he said.
Shares of Wanda Film rose 3.6%, while Imax China advanced 4.6%.
China's movie industry has been facing a boom-and-bust cycle as many new titles produced during the pandemic years weren't released until 2023, raising box office sales to $7.7 billion. The following year, box office sales fell by 23%. While 'Ne Zha 2' has boosted ticket sales this year, film executives have raised concerns that other new titles may be hit by waning demand.
Imax, however, is projecting that its attendance will keep growing as consumers seek larger screens to watch big productions with friends and family.
'If people choose to go to movie theaters, they're going to have to have a clear reason why,' Daniel Manwaring, head of Imax China, said in Shanghai. 'Is this a movie that deserves my time and money? Imax is the only company that is answering that question head-on. We guarantee the experience.'
This summer, Imax is counting on Chinese and Hollywood titles such as the war epic 'Dongji Rescue,' directed by Guan Hu and Fei Zhenxiang, Universal Pictures' 'Jurassic World Rebirth' and Apple Inc.'s 'F1.' Walt Disney Co.'s 'Avatar: Fire and Ash' is expected to be released on Imax screens late this year.
Imax China is also planning to release five local films shot on Imax cameras. Out of 73 films released on Imax screens in China last year, 34 were local, including at least two movies shot for Imax, according to the company. The company is seeking to maintain the balance between local and foreign films being released on its screens, Manwaring said.
'The film business needs to make movies sensational and big,' he said. 'At least in China, I am very optimistic about the long-term moviegoing audience.'
Kim writes for Bloomberg.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Upturn

2 hours ago

• Business Upturn

LPRO DEADLINE ALERT: ROSEN, A GLOBALLY RESPECTED LAW FIRM, Encourages Open Lending Corporation Investors to Secure Counsel Before Important June 30 Deadline in Securities Class Action

NEW YORK, June 21, 2025 (GLOBE NEWSWIRE) — WHY: New York, N.Y., June 21, 2025. Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Open Lending Corporation (NASDAQ: LPRO) between February 24, 2022 and March 31, 2025, both dates inclusive (the 'Class Period'), of the important June 30, 2025 lead plaintiff deadline. SO WHAT: If you purchased Open Lending securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose materially adverse facts about Open Lending's business, operations, and prospects. Specifically, defendants: (1) misrepresented the capabilities of Open Lending's risk-based pricing models; (2) issued materially misleading statements regarding Open Lending's profit share revenue; (3) failed to disclose Open Lending's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of Open Lending's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, defendants' positive statements about Open Lending's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]

Yahoo

3 hours ago

• Yahoo

You Need to Hear the Advice Brad Pitt Would Give His Younger Self

Originally appeared on E! Online Once upon a time in Hollywood, Brad Pitt was just starting out. And while it may be hard to think of the Oscar winner as anything other than the household name he is now, back in 1987 Pitt didn't have all the answers—though he does now. If the 61-year-old could give advice to his younger self, he'd say, 'Don't sweat it, bro. Trust yourself.' 'I mean so many things that were just a waste of time, I agonized over in the early years,' Pitt shared in an exclusive interview with E! News while promoting his new film, F1. 'Really, really, just trust your voice.' It's a sentiment his costar Javier Bardem wish he could tell his younger self, too. 'Don't try so hard,' he said. 'Don't push yourself. Trust more in your instinct, in your inner voice.' (For more with the F1 crew, tune into E! News tonight, June 16 at 11p.m.) Though, Bardem knows hindsight is 20/20. More from E! Online Justin Timberlake Celebrates Father's Day With Rare Photos of His and Jessica Biel's Sons Jenna Bush Hager Gets a Dramatic Haircut While Live on Air 'Traumatized' Justin Bieber Shares Text Message Ending a Friendship 'It's easy to say now, when you are older,' the 56-year-old conceded. 'But when you are young so much is at stake. You want to prove yourself to prove others so much.' But now? They're much more comfortable with their place in the Hollywood. As Bardem explained, 'Now I think we are fine with that. Like, okay, if you like what I do, great. If you don't, I'm sorry. But when you're young it's like, 'You have to like me!'' Like them, Hollywood has also transformed. 'It's gone through so many different incarnations,' Pitt said. 'I remember when the '90s came in, it was all about the independent cinema and just getting back to, like, '70s kind of filmmaking. Then we saw in the arts, the blockbuster was emerging again, and then streamers came on and just changed everything all over again.' He continued, 'The cool thing about it is that there's just more and more people getting opportunities like these. This pool of talented people always existed, but now so many more writers, directors, editors, so on, so forth, get to do this thing. And that I like, very cool.' And one such person who recently entered the race is Formula 1 driver Lewis Hamilton, who appears with Javier and Brad in F1. Which, yeah, made Pitt nervous. 'Can you imagine the gall to go, 'I'm going to drive seven-time world champion around the track?' The absurdity of that?' Pitt joked. 'But I swallowed it, and it's very humbling. And he's a great human being and we just, we couldn't make this movie without his expertise.' F1 races into theaters June 27. For more exciting released happening this summer, keep reading. --Reporting by Nikaline McCarley Karate Kid: Legends - May 30, 2025The Phoenician Scheme - May 30, 2025From the World of John Wick: Ballerina - June 6, 2025I Don't Understand You - June 6, 2025Tyler Perry's Straw - June 6, 2025The Life of Chuck - June 6, 2025Something Beautiful - June 12, 2025How to Train Your Dragon - June 13, 2025Materialists - June 13, 2025Echo Valley - June 13, 2025Elio - June 20, 2025Bride Hard - June 20, 202528 Years Later - June 20, 2025F1 - June 27, 2025M3GAN 2.0 - June 27, 2025Jurassic World Rebirth - July 2, 2025The Old Guard 2 - July 2, 2025Heads of State - July 2, 2025Superman - July 11, 2025I Know What You Did Last Summer - July 18, 2025Smurfs - July 18, 2025Eddington - July 18, 2025The Fantastic Four: First Steps - July 25, 2025Happy Gilmore 2 - July 25, 2025 For the latest breaking news updates, click here to download the E! News App

Miami Herald

4 hours ago

• Miami Herald

Will skipping ‘Made in China' beat tariff price hikes?

For most shoppers, "Made in China" has been a way of life for consumers. The mark is on seemingly everything. That has consumers concerned about how tariffs and trade battles between the United States and China might hit home, literally. If tariffs ultimately act as a tax on consumers – most economists say they do – how can Americans avoid paying higher prices? Stop buying things that were made in China. That's easier said than Trump recently took to Truth Social to say that the United States and China have a deal that's done, pending final approval of leaders from both countries. He said that U.S. tariffs would be set at 55% on Chinese goods, while China's tariffs remain at 10%. Officially, tariff plans with China and other countries are on hold until July 9, but U.S. Commerce Secretary Howard Lutnick has said several times that the 55% tariff "definitely" will not change. Related: Major housing expert predicts huge change to mortgage rates in 2026 While many of the harshest tariff hikes face legal challenges, current U.S. tariff rates are at their highest levels in nearly a century; estimates from the Yale Budget Lab say that's costing the average U.S. consumer an extra $2,500 a year. A recent study by covering consumer sentiment about tariffs shows that nearly two-thirds of Americans believe tariffs will have a negative impact on their personal finances. Just over 40% of respondents said tariffs would "greatly worsen" their personal finances. But even if consumers decide to tackle the China tariff problem by eliminating spending on goods from the country, it doesn't mean they will save money. They also will find the task daunting, if not impossible. That's according to journalist Sara Bongiorni, who tried to live without goods from China for a year back in the early 2000s; the trials and tribulations of her effort became the basis for her book, "A Year Without Made in China." Bongiorni, now an adjunct professor at Louisiana State University, woke up on Christmas morning in 2005 to a house full of stuff, and as she rummaged through it, she realized almost everything was made in China. "I said to my husband, 'Do you think it would be possible to live for a while without things made in China? You want to try that?' He was not very enthusiastic about that idea, but we gave it a whirl." Related: Forget tariffs, Fed interest rate cuts may hinge on another problem Bongiorni didn't set out to make a political statement or to write a book. She was simply hoping "to understand at a personal level, as best we could, how much we relied on things from China in our everyday, ordinary consumer life." In a recent interview on "Money Life with Chuck Jaffe," Bongiorni recounted how her rule was to avoid the words "Made in China," which are only seen on the end consumer product sold to shoppers. That's a low bar, given that countless products are assembled in the United States or in other countries using parts from China. Those goods-like the ones with the Made in China label-will incur increased costs due to tariffs. Bongiorni noted that in certain product categories – notably toys, household gadgets, many types of electronics, coffeemakers, sneakers and footwear, and children's clothing – it was nearly impossible to find items that weren't made in China. Even when she did find rare exceptions, Bongiorni noted that the options often pushed her to higher-end goods, which meant paying more for the purchase, in some cases, more than she would expect to pay now on goods from China with tariffs attached. "I think there were so many things we didn't buy that year because you couldn't find a viable option that wasn't made in China," Bongiorni said. She also noted that, ironically, it's nearly impossible to celebrate a wholly American holiday like July 4th without goods from China, as the small flags, fireworks, parade toys, festive paper goods, and more were made there. Truly trying to avoid all goods from China – including component parts – would be nearly impossible, Bongiorni said, noting that consumers would find themselves with no easy alternatives. "The share of things, ordinary consumer items from China, account for at least 65% of things you find in a typical household," Bongiorni said. "If you push up [prices with tariffs up to 55%], that is a huge impact, especially when we've got inflation and other things going on in the economy. It's a huge thing for most families to have to shoulder that burden." More Tariffs: Aldi plans huge price cut despite tariffs driving costs higherCar buyers should shop these brands for the best tariff dealGeneral Motors makes $4 billion tariff move Bongiorni does think the United States can bring some manufacturing back onshore, but that will have a limited impact because of the breadth and volume of goods coming from China, and the convenience of having those items and getting them cheaply. "I have a hard time thinking that we can lure ourselves off of our connection to China as consumers as a long-term affair," she said, "but also I can see a huge public outcry because this is going to affect people's bottom line every month." While Bongiorni recalls her efforts fondly nearly two decades later, she says she would not want to permanently do without Made in China, even if tariffs raise costs. Avoiding goods from China and finding alternatives was "incredibly time-consuming." And when there were no viable product options, she was willing to go without certain items for a year, but would not want to sacrifice them for a lifetime. "I do think it's interesting to have an awareness of where things come from, and to get a sense to the extent you can to which you are connected to the international economy on that consumer level," said Bongiorni. "I found that enjoyable and interesting, but the idea of weaning ourselves from Chinese goods, after doing this, just seems very unrealistic.…I can't imagine living like that long-term." Related: Fed official sends shocking message on interest rate cuts The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.