Max impact: Richard Gelfond, CEO, IMAX Corporation on their revamped growth strategy for India
Since 2001, you’ve had only two commercial theatres running in India. Are you planning to expand on the exhibition side?
Yes, by next March, we will open seven theatres in India and by the end of next year, we should have around 10-15 running. The economics are such that one can’t really break even unless and until one opens atleast 10 theatres. To give you an analogy, in China, in 2009, we had 13 theatres in the whole country. In five years, we expanded to 250 (100 open and 150 contracted to open). Though it might not happen that quickly or dramatically in India, in five years, we hope to set up 50 theatres in India.
Why is it a good time to expand your business in India?
It is a great
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