IMAX® AND MAJOR CINEPLEX EXPAND LONGSTANDING PARTNERSHIP WITH UP TO 10 NEW IMAX WITH LASER THEATRES

Rhea-AI Summary

IMAX Corporation (NYSE: IMAX) and Major Cineplex announced an expansion of their partnership with an agreement to install up to ten IMAX with Laser systems in Thailand and Cambodia by 2025. This expansion includes five new systems and four upgrades at key locations such as Bangkok and Phnom Penh. Major Cineplex, the largest exhibitor in Thailand, operates seven IMAX locations and has seen substantial box office success, including record attendance for 'Avatar: Way of Water'. The new installations will enhance IMAX's presence in Southeast Asia, where the company achieved its highest-grossing year in both countries in 2022.

Positive

• Expansion of IMAX's footprint with up to 10 new IMAX with Laser systems in Thailand and Cambodia.
• Strong partnership with Major Cineplex, the largest exhibitor in Thailand, enhancing market presence.
• Record box office performance for 'Avatar: Way of Water' indicates strong audience demand.

Negative

• None.

New and Upgraded Locations in Thailand and Cambodia Significantly Expands IMAX Footprint in Key Southeast Asian Market

LAS VEGAS, April 24, 2023 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Major Cineplex today announced plans to further expand their longstanding partnership with an agreement for up to ten state-of-the-art IMAX® with Laser systems. The new agreement will add an additional five new (two firm and three conditional) IMAX with Laser systems across Thailand. The deal also includes four upgrades to key locations in the country by 2025, including locations in Bangkok, Nonthaburi and Chiang Mai, and one upgraded location in Cambodia.

The announcement was made today at the annual CinemaCon 2023 exhibition conference in Las Vegas.

The deal will significantly expand the number of IMAX systems in Thailand, marking another notable step forward for IMAX and Major Cineplex in the fast-growing Southeast Asian market. Major Cineplex is the largest exhibitor in Thailand with a growing regional presence and currently operates seven IMAX locations. The two companies have enjoyed a successful partnership since 1998, most recently announcing an agreement for three new IMAX with Laser systems at CinemaCon 2022.

"Major Cineplex continues to be an excellent, fast-growing partner for IMAX, and we are excited to expand our collaboration and commitment to the Southeast Asian market," said Rich Gelfond, CEO of IMAX. "The Thai audience continues to show a strong appetite for the IMAX Experience, and we're excited to invest in new key locations, including popular global tourist destinations in Thailand."

"We're thrilled to bring the best technology yet again into Bangkok's most iconic shopping mall and other tourist destinations in Thailand, as well as to the Aeon Mall 2 in Phnom Penh, Cambodia," said Vicha Poolvaraluck, Major Cineplex CEO. "I know that Thai and Cambodian audiences will enjoy IMAX with Laser, one of the most immersive, high-quality theater systems around. We've seen continuous high attendance at our three previously opened IMAX with Laser locations, which launched with 'Avatar: Way of Water' and delivered the highest per movie attendance ever in Thai box office history."

IMAX is seeing strong box office results in Thailand and Cambodia, and the Company had its highest-grossing year ever in both markets in 2022. Both Thailand and Cambodia are one of 48 countries worldwide where "Avatar: The Way of Water" stands as the highest grossing IMAX release ever.

The ten new and upgraded Major Cineplex locations will be equipped with IMAX with Laser, IMAX's most advanced 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 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 systems.

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 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 181 branches, 846 screens: Bangkok&Up-Country 172 branches 800 screens, International 9 branches, 46screens.

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

FAQ

What is the new IMAX expansion plan involving Major Cineplex?

IMAX and Major Cineplex plan to install up to ten IMAX with Laser systems in Thailand and Cambodia by 2025.

How many new IMAX systems will be added in Thailand?

The agreement includes five new IMAX systems in Thailand.

When was this partnership expansion announced?

The partnership expansion was announced on April 24, 2023, at CinemaCon in Las Vegas.

What locations in Thailand will receive the new IMAX systems?

Key locations include Bangkok, Nonthaburi, and Chiang Mai.

How did IMAX perform in Thailand and Cambodia in 2022?

IMAX had its highest-grossing year ever in both Thailand and Cambodia in 2022.