With the rise of a growing middle class in emerging economies, particularly China and India, entertainment companies are adjusting their business models to tap into this growth. Richard Gelfond, CEO of IMAX, the operator of large-screen movie theatres, talks to BNN about his plans to benefit from the rise of consumers in the developing world.
“One problem is right now we’re exporting mostly North American films…so we’ve started to do local content,” he says. “For example in China, we’re now showing Chinese films in IMAX in China.”
Gelfond adds that once infrastructure is in place in emerging markets, the company will be better placed to expand its presence.