New Agreement Furthers Rapid Expansion of IMAX
across Southeast Asia
LAS
VEGAS, April 9, 2024 /PRNewswire/ -- IMAX
Corporation (NYSE: IMAX) and Major Cineplex today announced plans
to expand their partnership with an agreement for three new
state-of-the-art IMAX® with Laser locations. The deal will add
systems to key locations across Thailand, including one in the bustling area
of Bang Kapi, Bangkok — set to
open in 2024 — and two additional locations in Bangkok set to open in 2026 and 2027.
The announcement was made today at the annual CinemaCon 2024
exhibition conference in Las
Vegas.
The deal marks a significant step for IMAX in Thailand, bringing The IMAX Experience
beyond city centers and into the suburbs of the country's populous
capital. Major Cineplex is the largest exhibitor in Thailand with a growing regional presence, and
currently operates nine IMAX locations across Thailand and Cambodia. The two companies have enjoyed a
successful partnership since 1998.
"Major Cineplex is an excellent partner that continues to
steadily increase its commitment to IMAX, furthering our momentum
in the fast-growing Southeast Asian market," said Rich Gelfond, CEO of IMAX. "As we differentiate
ourselves with more films and experiences created for IMAX, we
continue to fuel strong demand for The IMAX Experience among
audiences, exhibitors, and filmmakers."
"Our partnership with IMAX continues to be strong, and we're
delighted to join forces with them yet again to bring Thai
moviegoers the most premium moviegoing experience possible," said
Vicha Poolvaraluck, Major Cineplex CEO. "We look forward to
bringing IMAX with Laser to new locations in Bangkok and providing an unparalleled
entertainment experience for our audiences – we are also excited to
bring more Thai films to be converted to IMAX this year, further
enriching the cinematic landscape in Thailand."
IMAX is seeing strong box office results in Thailand, which ranks among the top five Asian
markets for the Company in 2024. 2023 was the highest grossing year
ever in the country for IMAX with over $5.4
million in box office, beating the previous record set in
2022. This was driven in part by IMAX's increased focus on local
language titles in the country – the first Thai language IMAX
release, "Tee Yod", debuted in October
2023 and has delivered $500K
in box office to-date.
The three new Major Cineplex locations in Thailand will be equipped with IMAX with
Laser, IMAX's most advanced experience. 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. The new locations will be set apart by the
groundbreaking 4k laser projection
system that features a new optical engine, custom designed lenses,
and a suite of proprietary technology, all of which delivers
brighter images with increased resolution, deeper contrast, and the
widest range of colors exclusively to IMAX systems.
About Major Cineplex
Major Cineplex Group Plc. (MAJOR) is Thailand's Best Entertainment Lifestyle
Company with core business in cinema, bowling, karaoke, ice skating
rink, advertising media, retails space, film distribution and movie
content. MAJOR was listed on the Stock Exchange of Thailand (SET) in May
2002.
The "Cineplex" concept was first introduced to the Thais in 1995
when Mr. Vicha Poolvaraluk, the founder of MAJOR, built the
first-of-its-kind Standalone "Cineplex" in Pinklao area of
Bangkok. Currently MAJOR commands
approximately 70% market share of the Thai cinema industry's
admissions revenue. MAJOR has always been the first who invented
and imported the newest world class technologies into the country.
Total of 184 branches, 846 screens: Bangkok&Up-Country 175
branches 815 screens, International 9 branches, 46 screens.
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 December 31, 2023, there were 1,772 IMAX systems
(1,693 commercial multiplexes, 12 commercial destinations, 67
institutional) operating in 90 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® 3D, Experience It In
IMAX®, The IMAX Experience®,
DMR®, Filmed For IMAX®, IMAX LIVE™, and IMAX
Enhanced® are trademarks and trade names of IMAX
Corporation 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), LinkedIn (www.linkedin.com/company/imax),
X (www.twitter.com/imax), and YouTube
(www.youtube.com/imaxmovies).
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