Five New Locations Added and Agreement
Extended through 2028 as Canada's
Largest Exhibitor Reaffirms its Partnership with
IMAX®
TORONTO, July 25,
2023 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX)
and Cineplex Inc. (TSX: CGX.TO) today announced an expansion of
their longstanding partnership with new state-of-the-art IMAX
systems in key locations across Canada. The deal adds an additional five new
IMAX systems across the country, as well as two upgrades to IMAX
with Laser. Further to new theatre signings, Cineplex has also
reaffirmed its strong commitment to IMAX with the renewal of
agreement terms for 24 existing IMAX locations through 2028.
"Our successful 25-year partnership with Cineplex has been
instrumental in growing the IMAX network across Canada, and this deal represents Cineplex's
renewed seal of trust in the value of the IMAX Experience to their
thriving business," said Rich
Gelfond, CEO of IMAX. "As we continue to drive strong
market share worldwide, our recent network growth in the mature
North American market demonstrates the breadth of demand for IMAX
among exhibitors and consumers."
"Our partnership with IMAX has always been strong, and it speaks
to the enduring value of the IMAX Experience," said
Ellis Jacob, President and CEO,
Cineplex. "Cineplex remains dedicated to providing
unparalleled entertainment experiences for our guests and this
expanded partnership with IMAX is a testament to our unwavering
commitment to our audience and the industry we serve."
Cineplex and IMAX have enjoyed a long and successful 25-year
partnership in the Canadian market. Inclusive of this new deal, the
two companies now have a total of 29 IMAX locations in top-tier
cities across the country, with agreement terms expanded through
2028. Cineplex is Canada's largest
exhibitor and operates over 170 movie theatres and location-based
entertainment venues.
With this expanded partnership, IMAX has signed agreements for
84 new or upgraded IMAX systems around the world in 2023 to date —
more than the entirety of 2022. This includes agreements in key
growth markets across Asia and
Europe in addition to significant
growth in North American markets with both new and long-term
partners.
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. Streaming technology company SSIMWAVE, an IMAX subsidiary,
is a leader in AI-driven video quality solutions for media and
entertainment companies.
IMAX is headquartered in New
York, Toronto, and
Los Angeles, with additional
offices in London, Dublin, Tokyo, and Shanghai. As of March
31, 2023, there were 1,711 IMAX systems (1,631 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).
About Cineplex Inc.
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in
the Film Entertainment and Content, Amusement and Leisure, and
Media sectors. Cineplex offers a unique escape from the everyday to
millions of guests through its circuit of over 170 movie theatres
and location-based entertainment venues. In addition to being
Canada's largest and most
innovative film exhibitor, the company operates Canada's favourite destination for 'Eats &
Entertainment' (The Rec Room), complexes specially designed for
teens and families (Playdium), and a newly launched entertainment
concept that brings movies, amusement gaming, dining, and live
performances together under one roof (Cineplex Junxion). It also
operates successful businesses in digital commerce
(CineplexStore.com), alternative programming (Cineplex Events),
motion picture distribution (Cineplex Pictures), cinema media
(Cineplex Media), digital place-based media (Cineplex Digital
Media) and amusement solutions (Player One Amusement Group).
Providing even more value for its guests, Cineplex is a partner in
Scene+, Canada's largest
entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs over 10,000 people in its
offices and venues across Canada
and the United States. To learn
more, visit Cineplex.com.
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
