IMAX® AND CINEMEX LAUNCH PARTNERSHIP WITH SIX NEW IMAX LOCATIONS IN MEXICO

Rhea-AI Summary

IMAX Corporation has announced a new partnership with Cinemex, a leading Mexican exhibitor, marking the most significant expansion of the IMAX Experience in Mexico in a decade. This partnership includes the installation of six new state-of-the-art IMAX with Laser systems across key cities, with openings anticipated in the fourth quarter of 2023. This venture not only signifies the first rollout of IMAX technology in the Cinemex network but also responds to a growing demand for premium cinematic experiences, highlighted by recent box office successes.

The collaboration was revealed at CinemaCon 2023 in Las Vegas, showcasing IMAX's commitment to enhancing audience experiences by delivering advanced technology and superior image quality. Cinemex, celebrating its 30th anniversary, operates nearly 3,000 screens in Mexico and aims to further innovate its service offerings.

Positive

• Partnership with Cinemex to install six IMAX with Laser systems across Mexico, expanding IMAX's reach.
• First-time collaboration with a major Mexican exhibitor, enhancing IMAX's presence in a growing market.
• New systems expected to open in Q4 2023, aligning with strong box office performance and audience demand.
• IMAX with Laser technology offers superior imaging and sound quality, enhancing the moviegoing experience.

Negative

• None.

First-Time Collaboration Delivers Most Significant Expansion of The IMAX Experience Across Mexico in a Decade

LAS VEGAS, April 25, 2023 /PRNewswire/ -- Cinemex, a leading Mexican exhibitor, and IMAX Corporation (NYSE: IMAX) today announced a dynamic new partnership, headlined by an agreement for six new state-of-the-art IMAX® with Laser systems across key locations in Mexico. The deal will bring the IMAX Experience to the Cinemex network for the first time across several key cities in the country, with the first systems expected to open to the public in the fourth quarter of 2023.

IMAX's collaboration with Cinemex marks the most significant expansion in Mexico since 2013, delivering a landmark expansion in the country with a brand-new partnership. The announcement was made today at the annual CinemaCon 2023 exhibition conference in Las Vegas.

"At Cinemex, we are committed to bringing our guests the best in larger-than-life cinematic and entertainment experiences," said Javier Reyes Moctezuma, Film Programming and Content Director at Cinemex. "That is why we are thrilled to partner with IMAX – they are too, in our business, to deliver to audiences exciting experiences that bring film to life in the fullest."

"Cinemex is a strong, longstanding exhibitor in Mexico and we're excited to collaborate to bring The IMAX Experience to audiences in the market as its box office momentum surges, most recently with the remarkable performance of 'The Super Mario Bros. Movie'," said Rich Gelfond, CEO of IMAX. "This landmark deal with a new partner marks our largest recent expansion in Mexico, and highlights the huge demand worldwide from moviegoing audiences for premium experiences."

Cinemex celebrates the thirtieth anniversary of the company's founding this year, which was built around the idea of revolutionizing the Mexican cinema experience with multiplexes and stadium-type venues. The company continues this spirit of innovation by combining unique architecture and differentiated customer services to offer a premium moviegoing experience across nearly three thousand screens in the country.

Cinemex's six new theatres will be split between four locations in Mexico City and two currently unannounced locations. These will all be equipped with IMAX with Laser, IMAX's most advanced theatre experience. Immersive by design, IMAX with Laser delivers crystal clear, lifelike images and precision audio. These new IMAX with Laser screens will be set apart by the ground-breaking 4K laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology, delivering 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 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 December 31, 2022, there were 1,716 IMAX systems (1,633 commercial multiplexes, 12 commercial destinations, 71 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 Cinemex

Cinemex owns 325 complexes, almost 3 thousand screens in 104 cities in Mexico. Cinemex was founded in 1995 with the aim of revolutionizing the film industry in Mexico. It was a pioneer in installing multiplex complexes and stadium-type venues to meet the needs of its spectators. Currently it continues to offer innovative concepts for its audience such as Cinemex Platino, Cinemex Premium and recently Cinemex Market. It has different formats such as 2D, 3D and ATMOS.

For additional information please contact: 

Investors:
Jennifer Horsley
jhorsley@imax.com
212.821.0154

Media:
Mark Jafar
mjafar@imax.com
212.821.0102

View original content to download multimedia:https://www.prnewswire.com/news-releases/imax-and-cinemex-launch-partnership-with-six-new-imax-locations-in-mexico-301807130.html

SOURCE IMAX Corporation

FAQ

What is the purpose of IMAX's partnership with Cinemex?

The partnership aims to expand the IMAX Experience in Mexico by installing six new IMAX with Laser systems in Cinemex theaters.

When will the new IMAX locations in Mexico open?

The new IMAX locations are expected to open to the public in the fourth quarter of 2023.

How many IMAX theaters are planned to be installed in Mexico?

Six new IMAX with Laser theaters are planned to be installed across key locations in Mexico.

How is this partnership significant for IMAX?

This partnership marks IMAX's largest expansion in Mexico since 2013, establishing a presence in a key market for premium cinematic experiences.

What technology will the new IMAX theaters feature?

The new IMAX theaters will feature IMAX with Laser technology, providing enhanced image and sound quality.