Provides Access to Sony Pictures’ Leading
Catalog and All Upcoming Theatrical Releases
IMAX Corporation (NYSE: IMAX), audio leader DTS®, a wholly-owned
subsidiary of Xperi Corporation (Nasdaq: XPER), and Sony Pictures
Entertainment (SPE) today announced a significant expansion of the
IMAX Enhanced ecosystem with SPE’s commitment to release hundreds
of new titles in the IMAX format over the next two years, including
all upcoming SPE and IMAX theatrical releases.
With at least 100 new titles coming over the next 12 months and
hundreds of additional titles expected in the years to follow, IMAX
Enhanced exponentially increases its SPE premium content footprint
for consumers worldwide via this commitment. The IMAX Enhanced
releases will be available across Europe, North America and Asia
Pacific regions.
IMAX Enhanced is the only way to experience IMAX’s signature
picture, sound and scale outside of a movie theater, combining
exclusive, IMAX digitally remastered 4K HDR content and DTS premium
audio delivered through high-end consumer electronics and streaming
platforms.
“We are thrilled to announce an expansion of our support of the
IMAX Enhanced program with hundreds of additional titles from the
legendary SPE catalog, as well as new, theatrical releases for
best-in-class home entertainment. The success that SPE has enjoyed
in collaborating with IMAX and DTS has inspired the decision to
significantly increase our commitment and volume of content to meet
the growing demand for IMAX Enhanced,” said Pete Wood, SPE’s Senior
Vice President, New Digital Distribution. “Today’s agreement
underscores SPE’s belief in the value of high-quality viewing
experiences that IMAX Enhanced is able to bring to discerning
consumers. Always at the forefront of delivering exceptional
content to viewers, wherever they are, SPE’s investment in the IMAX
Enhanced program ensures that we will continue to deliver even more
of our films to audiences who now expect to experience movies at
the highest technical quality– even in their own homes.”
“Today’s announcement represents the latest milestone for IMAX
Enhanced as Sony Pictures Entertainment, IMAX and DTS continue to
work hand in hand to redefine high-quality at-home entertainment,”
said Patrick McClymont, Executive Vice President and Chief
Financial Officer, IMAX Corporation. “SPE’s storied library
provides our fans access to an unprecedented, ever-expanding roster
of movie favorites across multiple genres. We look forward to
continuing to drive momentum on all fronts by working tirelessly
with our leading consumer electronics and streaming partners on
delivering breakthrough technology and content experiences for
consumers around the world.”
“IMAX Enhanced continues to experience amazing support and
participation by partners across the ecosystem as the demand for
differentiated content and immersive entertainment experiences
continues to grow,” said Bill Neighbors, Xperi Senior Vice
President & General Manager, Cinema, Home, Digital Media &
Streaming Solutions. “As consumers look for new and different ways
to enjoy their favorite content, SPE’s rich content library is a
seamless fit with IMAX Enhanced – preserving the films’
best-in-class sight, sound and scale for an at-home entertainment
experience that truly stands out.”
The addition of hundreds of new SPE titles delivers on growing
demand for IMAX Enhanced as a premium content experience. The IMAX
Enhanced content library already includes blockbuster and fan
favorites such as Spider-Man™: Far From Home, Jumanji: The Next
Level, Spider-Man: Homecoming, Venom, Bad Boys For Life, Jumanji:
Welcome To The Jungle, Spider-Man: Into the Spider-Verse, Only The
Brave, Men In Black™: International, Zombieland: Double Tap, A
Beautiful Day In The Neighborhood, Little Women (2019), and
Charlie’s Angels (2019).
Now available on four streaming platforms in 14 countries
worldwide and across 17 leading certified consumer electronics
manufacturers, IMAX Enhanced uses the newest, proprietary digital
remastering technology developed by IMAX to deliver ultra-vivid 4K
HDR picture with more vibrant colors. Select IMAX Enhanced content
features its signature expanded aspect ratio – enabling viewers the
full scope and scale of the picture. IMAX and DTS have also
partnered with award-winning Hollywood sound mixers to use a
special variant of the DTS:X codec technology integrated in home
audio equipment to deliver an IMAX signature sound experience with
more immersive, powerful sound. To ensure optimized playback of
fully immersive IMAX Enhanced content, the two companies are also
designing an IMAX Mode, meticulously calibrated to deliver the best
viewing and listening experience in the home.
For more information about IMAX Enhanced, please visit
www.IMAXenhanced.com.
About Sony Pictures Entertainment
Sony Pictures Entertainment (SPE) is a subsidiary of Tokyo-based
Sony Corporation. SPE's global operations encompass motion picture
production, acquisition, and distribution; television production,
acquisition, and distribution; television networks; digital content
creation and distribution; operation of studio facilities; and
development of new entertainment products, services and
technologies. SPE’s Motion Picture Group production organizations
include Columbia Pictures, Sony Pictures Animation, Screen Gems,
TriStar Pictures, 3000 Pictures, Stage 6 Films, AFFIRM Films, and
Sony Pictures Classics. For additional information, visit
http://www.sonypictures.com/corp/divisions.html.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines
proprietary software, architecture and equipment to create
experiences that take you beyond the edge of your seat to a world
you've never imagined. Top filmmakers and studios are utilizing
IMAX theaters to connect with audiences in extraordinary ways, and,
as such, IMAX's network is among the most important and successful
theatrical distribution platforms for major event films around the
globe.
IMAX is headquartered in New York, Toronto, and Los Angeles,
with additional offices in London, Dublin, Tokyo, and Shanghai. As
of March 31, 2020, there were 1,616 IMAX theater systems (1,526
commercial multiplexes, 14 commercial destinations, 76
institutional) operating in 81 countries and territories. Shares of
IMAX China Holding, Inc., a subsidiary of IMAX Corp., trade on the
Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience®, and IMAX nXos® are trademarks of
IMAX Corporation. More information about the Company can be found
at www.imax.com. You may also connect with IMAX on Instagram
(https://www.instagram.com/imax), Facebook (www.facebook.com/imax),
Twitter (www.twitter.com/imax) and YouTube
(www.youtube.com/imaxmovies).
About Xperi Corporation
Xperi Corporation (Nasdaq: XPER) and its brands DTS, IMAX
Enhanced, HD Radio, and Invensas are dedicated to creating
innovative technology solutions that enable extraordinary
experiences for people around the world. Xperi’s solutions are
licensed by hundreds of leading global partners and have shipped in
billions of products in areas including premium audio, automotive,
broadcast, computational imaging, computer vision, mobile computing
and communications, memory, data storage, and 3D semiconductor
interconnect and packaging. For more information, please visit
www.xperi.com.
Forward-Looking Statements
This news release contains forward-looking statements, which are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ significantly from those projected, particularly
with respect to the IMAX and DTS partnership and the expected
features, benefits, characteristics and launch of IMAX Enhanced
titles and partnerships. Material factors that may cause results to
differ from the statements made include the plans or operations
relating to the businesses of Xperi; market or industry conditions;
changes in patent laws, regulation or enforcement, or other factors
that might affect Xperi's ability to protect or realize the value
of its intellectual property; the expiration of license agreements
and the cessation of related royalty income; the failure, inability
or refusal of licensees to pay royalties; initiation, delays,
setbacks or losses relating to Xperi's intellectual property or
intellectual property litigations, or invalidation or limitation of
key patents; fluctuations in operating results due to the timing of
new license agreements and royalties, or due to legal costs; the
risk of a decline in demand for semiconductors and products
utilizing our audio and imaging technologies; failure by the
industry to use technologies covered by Xperi's patents; the
expiration of Xperi's patents; Xperi's ability to successfully
complete and integrate acquisitions of businesses; the risk of loss
of, or decreases in production orders from, customers of acquired
businesses; financial and regulatory risks associated with the
international nature of Xperi's businesses; failure of Xperi's
products to achieve technological feasibility or profitability;
failure to successfully commercialize Xperi's products; changes in
demand for the products of Xperi's customers; limited opportunities
to license technologies due to high concentration in applicable
markets for such technologies; the impact of competing technologies
on the demand for Xperi's technologies; pricing trends, including
Xperi's ability to achieve economies of scale; and other
developments in the markets in which Xperi operates, as well as
management's response to any of the aforementioned factors. You are
cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date of this release. The
foregoing review of important factors should not be construed as
exhaustive and should be read in conjunction with the other
cautionary statements that are included herein and elsewhere,
including the Risk Factors included in Xperi's recent reports on
Form 10-K and Form 10-Q and other documents of Xperi on file with
the Securities and Exchange Commission (the "SEC"). Xperi's SEC
filings are available publicly on the SEC's website at www.sec.gov.
Any forward-looking statements made or incorporated by reference
herein are qualified in their entirety by these cautionary
statements, and there can be no assurance that the actual results
or developments anticipated by Xperi will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, Xperi or its business or
operations. Except to the extent required by applicable law, Xperi
undertakes no obligation to update publicly or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
XPER-D
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version on businesswire.com: https://www.businesswire.com/news/home/20200504005175/en/
Media: IMAX Corporation Mark Jafar +1 212-821-0102
mjafar@imax.com
Xperi Corporation Kevin Doohan + 1 818-436-1081
media@xperi.com
Investors: IMAX Corporation Brett Harriss +1 212-821-0187
sdavidson@imax.com
Xperi Corporation Geri Weinfeld +1 818-436-1231 IR@xperi.com
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