Sina Tech, 8/17/11
Beijing-based digital content distributor Netmovie said recently that the company is currently scouting locations in several cities throughout Guangdong province as part of its plan to open a number of its iMovie private cinema operations in southern China. Netmovie's iMovie centers are cinema establishments which offer on-demand viewing of films in private rooms similar to to those found in karaoke parlors.
According to a spokesperson for Netmovie, the company's goal is to open no fewer than 50 iMovie private cinema audiovisual centers in Guangdong cities including Guangzhou, Shenzhen, Dongguan and Foshan in the next two years. Each of the new iMovie audiovisual centers will require an investment of at least RMB 2 mln, and Netmovie anticipates investing more than RMB 100 mln throughout the endeavor. Netmovie also plans to IPO overseas sometime next year.
Editor's Note: The iMovie centers offer access to a variety of audiovisual content, including films not released in Chinese cinemas.