New Agreement Expands Partnership to New
Locations in Tennessee and
Georgia
NEW
YORK, Oct. 10, 2023 /PRNewswire/ -- IMAX
Corporation (NYSE: IMAX) and U.S. exhibitor NCG Cinemas today
announced a new agreement for three state-of-the-art IMAX with
Laser Systems across the U.S. The deal will expand IMAX's existing
footprint with NCG Cinemas with two new IMAX locations in
Tennessee and Georgia as well as an upgraded location in
Michigan. Planning for the
construction of the new standalone IMAX theatre in Kingsport, Tennessee begins this week, and is
expected to open to the public in March
2025.
"As we enter the stretch run of 2023, we're excited that
partners like NCG are growing their commitment to IMAX as we drive
record share of the box office," said Rich
Gelfond, CEO of IMAX. "This agreement continues the strong
demand for the IMAX Experience we've seen this year in the North
American market — a great indicator of momentum and future growth
for our business."
"At NCG, we are dedicated to providing our neighbors with the
highest quality cinematic experience possible. That's why we're
proud to partner with IMAX - there's no brand more renowned in
delivering that experience. We're thrilled to announce the
expansion of the IMAX/NCG partnership," said Jeff Geiger, President & CEO of NCG
Cinemas.
NCG Cinemas and IMAX have enjoyed a successful partnership since
2010, with the opening of the Grand Blanc IMAX location in
Michigan. The new deal comes as
IMAX continues to deliver strong box office results both
domestically and globally; the Company set a new record for
third quarter box office in 2023 with $347
million, and also delivered the best month of July ever with
$176.2 million, due in part to the
extraordinary performance of Christopher
Nolan's "Oppenheimer".
The three NCG Cinemas IMAX locations will be equipped with IMAX
with Laser, IMAX's most advanced theatre experience. Immersive by
design, IMAX with Laser has been developed from the ground-up to
deliver crystal clear, lifelike images and precision audio for a
moviegoing experience unlike anything else. It is set apart by a
ground-breaking 4k laser projection
system that features a new optical engine, custom designed lenses,
and a suite of proprietary technology that delivers brighter images
with increased resolution, deeper contrast, and the widest range of
colors exclusively to IMAX screens.
About NCG Cinemas
Neighborhood Cinema Group, branded as NCG Cinema, is a movie
theater chain headquartered in Owosso,
Michigan in 1985. The chain consist of 26 theaters with 253
screens throughout nine states including Michigan, Indiana, Illinois, New
York, Tennessee,
North Carolina, South Carolina, Georgia, and Florida. For more information visit:
ncgmovies.com.
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 systems to connect with audiences in extraordinary ways,
making IMAX's network 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 June
30, 2023, there were 1,718 IMAX systems (1,638 commercial
multiplexes, 12 commercial destinations, 68 institutional)
operating in 87 countries and territories. Shares of IMAX China
Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong
Kong Stock Exchange under the stock code "1970."
IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In
IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D
Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX
Enhanced™, IMAX nXos®, SSIMWAVE® and Films to the Fullest®, are
trademarks and trade names of the Company or its subsidiaries that
are registered or otherwise protected under laws of various
jurisdictions. For more information, visit www.imax.com. You may
also connect with IMAX on Instagram (www.instagram.com/imax),
Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax),
YouTube (www.youtube.com/imaxmovies) and LinkedIn
(www.linkedin.com/imax).
For additional information please contact:
Investors:
Jennifer
Horsley
jhorsley@imax.com
212.821.0154
Media:
Mark Jafar
mjafar@imax.com
212.821.0102
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SOURCE IMAX Corporation