IMAX and Wanda Film, two industrial giants, announced the signing of a memorandum of understanding on Friday to deepen their strategic partnership in merchandise development and IP initiatives.

The agreement underscores their strategic alignment with the ongoing structural shift in China's film market and highlights their shared commitment to developing the broader, cinema-driven consumer ecosystem emerging beyond the box office, according to the companies.

Under this MOU, Wanda Film and IMAX will collaborate on merchandise development, brand-driven IP initiatives, and retail programs, leveraging their extensive nationwide networks as sales channels to connect with wider audiences.

The two partners aim to unlock new revenue streams by tapping into the growing "lobby economy" and expanding incremental consumer engagement beyond the traditional box-office business.

"Wanda Film's efforts to diversify continue to accelerate in practice ... IMAX has long been one of our most important partners. Beyond enhancing content and the viewing experience, this expanded collaboration will see Wanda Film leveraging its venue advantages together with IMAX's global network to jointly build a new industry ecosystem," said Chen Zhixi, chairwoman of Wanda Film.

Daniel Manwaring, CEO of IMAX China, said: "The IMAX experience begins on the big screen, but our story doesn't end there. We're extending the hallmark feature of IMAX into more consumer touchpoints. As IMAX's largest exhibition partner worldwide, Wanda Film brings invaluable local insight and operational excellence to this effort."