Film companies expanding beyond the big screen
52Toy's boxes are shown in an SIFF event. The company, invested by Wanda Film, has applied for Hong Kong IPO and is regarded as "next Pop Mart" (Labubu's developer).
Wanda Film and IMAX China revealed business expansions at the Shanghai International Film Festival (SIFF). Beyond enhancing cinematic experiences with bigger and brighter screens, companies are also boosting investment in gaming and Labubu-like collectible toy boxes.
This multi-faceted approach aims to diversify businesses, capitalizing on China's upward trend of robust consumption.
Wanda Film, China's largest cinema line operator, is adding 27 IMAX systems to its current 123. Beyond its core operations, Shenzhen-listed Wanda Film unveiled a strategic diversification of revenue sources, including increased investment in the gaming sector and the burgeoning collectible toy box (Blind Box) trend.
As an example of this new direction, Wanda Film has invested in 52Toys, a popular blind box vendor regarded as the "next Pop Mart," the developer of trendy Labubu toys. 52Toys has applied for an initial public offering in Hong Kong.
Concurrently at SIFF, HK-listed IMAX China announced its own record-breaking slate of three new Chinese-language "Filmed for IMAX" titles: "Dongji Rescue," "A Cool Fish 2," and "A Writer's Odyssey 2." These films are set for release from this summer, marking a new high for Chinese IMAX productions in a single year and underscoring the growing collaboration within the industry.
On only 1 percent of screens nationwide, IMAX box office contribution far exceeds that share – consistently placing IMAX at the forefront of premium formats in terms of revenue, according to industry analysts.
A IMAX film poster for "Dongji Rescue," which will be shown in China in August.
