New | UA Cinema expands further in China as box office rises
Blockbusters, booming box office drive cinema business in China, Hong Kong
Despite competition from DVDs and the internet, UA Cinema remains in expansion mode in mainland China where booming box office receipts means the country is on the track to overtake the US in 2017 to become the world’s largest movie market worldwide in 2017.
Ivan Wong Chi-fai, managing director of UA Cinema and Lark International Multimedia, said the cinema business outlook remains positive as the box office in both Hong Kong and mainland China are on a rising trend the past five years and the trend will continue shooting higher.
Credit Suisse analyst David Hao predicts China will overtake the US as the No.1 movie market worldwide in 2017 in terms of box office
“People could watch movies via their computer or mobile phone nowadays but the experience of sounds and visuals could not compare with watching the movie in the cinema. This is particularly the case for the 3D movie and Imax cinema,” he said.
UA Cinema, the largest cinema firm in Hong Kong which has been operating for 30 years, has 10 cinemas with multiple screens and a total of 7,832 seats in the Hong Kong. This includes 4 Imax theatres.
In mainland China, UA Cinema has opened two new cinemas in the mainland this year, with one in Shanghai and one in Zhuhai, bringing its mainland cinema number to 10, including 4 with Imax screens. The total number of seats in China is 12,048.
Wong said UA plans to selectively open a small number of new cinemas in the mainland in prime locations and cutting edge technology.
“We plan to focus on the premium market so we compete with the best technology and high quality of services,” Wong said.