IMAX (IMAX) Announces Plans to Install 4 Theatre Systems in New SPI Cinemas in India
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IMAX (NYSE: IMAX) and SPI Cinemas Private Limited (SPI) today announced an agreement to install four digital IMAX® theatre systems in new SPI Cinemas complexes across India. The deal brings the total number of commercial IMAX® theatres open or contracted to open in India to 13.
The local Indian film market currently ranks number one in the world for attendance and film production with over 1,000 films produced a year and approximately 90% of revenues derived from non-English language movies. Recent reports project the country's film industry to grow from $3.2 billion in 2010 to $5 billion by 2014.
The local Indian film market currently ranks number one in the world for attendance and film production with over 1,000 films produced a year and approximately 90% of revenues derived from non-English language movies. Recent reports project the country's film industry to grow from $3.2 billion in 2010 to $5 billion by 2014.
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