Titanic 3D will become the first US studio film to receive a theatrical release in Myanmar in decades, following a licensing deal between Twentieth Century Fox and Myanmar’s Mingalar Company
Minagalar, the country’s largest film exhibitor with eight single-screen locations, will release Titanic 3D on August 17. The company operates the only 3D screen in Myanmar.
A private company established in 1990 with businesses including general trading and import/export, Mingalar moved into the entertainment industry in 1995 by opening its first cinema. At the time it was the first private film exhibitor in Myanmar (previously known as Burma) since 1962.
The company, which controls more than 80% of the domestic exhibition market and 90% of the foreign film market, plans to expand to 11 screens by the end of 2012 and to convert some of its existing screens to digital.
In a joint statement, Fox International co-presidents Tomas Jegeus and Paul Hanneman said: “TCF International is proud to be a pioneer in entering emerging markets and working with local businesses to further develop these endeavors. In recent years, we have entered markets such as Vietnam, Cambodia, Mongolia and Papua New Guinea.
“We have noted with great interest the reforms taking place in Burma under Thein Sein and look forward to visiting our newest territory when we travel Asia later this year.”
Re-released in the 3D format this spring, Titanic 3D has grossed almost $344m worldwide, with almost half of that amount coming from mainland China.