IMAX AND MAJOR CINEPLEX EXPAND PARTNERSHIP IN THAILAND WITH THREE NEW IMAX® WITH LASER THEATRES
IMAX Corporation and Major Cineplex have expanded their partnership with an agreement to introduce three new IMAX with Laser systems in Bangkok, Thailand. This development increases IMAX's total presence in Thailand to seven screens, targeting the growing Thai film market. Two upgrades are planned for existing popular locations, including ICON CINECONIC and Paragon Cineplex, while the third will be in a new Mega Cineplex at Mega Bangna Mall. The upgraded systems promise premier viewing experiences with advanced 4K laser projection technology.
- Expansion to three new IMAX with Laser systems enhances IMAX's market presence in Thailand.
- Agreement increases total IMAX screens in Thailand to seven, targeting a growing audience.
- Upgrades at top-performing theaters, likely boosting box office returns.
- None.
New and Upgraded Locations in Bangkok Set to Significantly Grow IMAX Position in Key Southeast Asian Market
BANGKOK and NEW YORK, April 25, 2022 /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 systems in Thailand. The deal marks a significant step forward for IMAX and Major Cineplex — the largest exhibitor in Thailand with a growing regional presence — and will bring IMAX's total presence to seven screens in the fast-growing Thai market.
The new agreement provides for IMAX with Laser upgrades at two key locations in central Bangkok, including ICON CINECONIC at ICONSIAM, the venue for this year's CineAsia annual conference of Asian exhibitors. The ICON CINECONIC at ICONSIAM upgrade is slated to be installed prior to the conference. ICON CINECONIC at ICONSIAM and the additional location, Paragon Cineplex at Siam Paragon , are two of Thailand's top-performing theatres and are in prime retail and entertainment complexes. The third system will be a brand-new construction located at the Mega Cineplex at Mega Bangna Mall, a massive complex with hundreds of stores, in the Bangkok Metro region.
"We are excited to bring these new state-of-the-art systems into Bangkok's most iconic shopping and entertainment complexes as we further expand on our long, successful partnership with IMAX," Major Cineplex CEO Vicha Poolvaraluck said. "I look forward to experiencing the latest blockbuster films in one of the most immersive, high-quality theater systems around. With the continuous evolution of Thailand's film market, the premium movie experience represented by IMAX has become a driving force to attract audiences back to the box office and support the industry's post-pandemic recovery."
"From our increasing number of screens to growing box office returns, Thailand is an emerging market for IMAX and this agreement marks a big step forward in capturing the opportunity at hand," said Rich Gelfond, CEO of IMAX. "We are excited to expand our partnership with Major Cineplex, and look forward to further growing the IMAX brand in Thailand and around the globe as a premier destination for entertainment and events."
The new and upgraded locations will showcase IMAX with Laser, IMAX's most advanced theatre experience. IMAX with Laser has been developed from the ground-up to be immersive by design and deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. It is unmatched with by a groundbreaking 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 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 December 31, 2021, there were 1,683 IMAX theater systems (1,599 commercial multiplexes, 12 commercial destinations, 72 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®, IMAX nXos® 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. 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).
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Investors:
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hanthony@imax.xom
212.821.0121
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212.821.0102
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SOURCE IMAX Corporation
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