CJ CGV Ranks Seventh in Theater Market in China

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NEWS & REPORTS

CJ CGV Ranks Seventh in Theater Market in China

Dec 19, 2016

Writer by KIM Hyung-seok
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CJ CGV Holds 3% Market Share with 79 Theaters

CJ CGV has ranked at seventh place in terms of market share among theater companies in China. “CJ CGV currently operates 79 cinemas in China, and ranks seventh with 3.0% share of the market as of October, 2016,” said SEO Jung, CEO of CJ CGV during the CJ CGV Film Industry Media Forum. The company started to expand with ten theaters from 2012 since preparing to move into the Chinese market in 2007.

The Chinese film industry is now growing rapidly, and expected to surpass Hollywood by 2018. CJ CGV is achieving this notable result in the fierce competition among about 300 theater companies in China. CEO SEO said it will “inroad more aggressively in 2017.” It now has cinemas in U.S., Vietnam, Indonesia and Turkey as well as China, with the number of overseas screens reaching 350.

Meanwhile, CJ CGV announced at the forum that their 270-degree immersive screening technology ScreenX would be adopted for the first time in a Hollywood film. Eric Brevig, the visual effects supervisor of The Maze Runner and director of Journey To the Center of the Earth, plans to direct his upcoming film We Kill Death in ScreenX Format.

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