ODEON and IMAX Expand Longstanding Partnership with New Theatre Agreement Spanning Europe
IMAX Corporation and ODEON Cinemas have expanded their partnership, set to upgrade six UK theatres to IMAX with Laser systems by 2025 and establish nine new locations across Europe, including Spain and Italy. This move aims to enhance the cinematic experience as audiences return in strong numbers post-pandemic. Notably, ODEON is IMAX's largest partner in Europe, currently operating 34 IMAX theatres. Rich Gelfond, IMAX CEO, emphasized the growing market share and the positive momentum from this agreement, reinforcing IMAX's commitment to innovative cinematic technology.
- Expansion of partnership with ODEON, enhancing IMAX presence in Europe.
- Upgrade of six theatres to IMAX with Laser systems, improving viewer experience.
- Nine new IMAX theatres planned in Europe, reflecting growth potential.
- ODEON operates 34 IMAX theatres, affirming strong market position.
- None.
ODEON to Upgrade Six Theatres across the UK to IMAX with Laser Systems, Sets Locations for New IMAX Screens across Five European Nations
BARCELONA, Spain, June 20, 2022 /PRNewswire/ -- ODEON Cinemas Group (ODEON) and IMAX Corporation (NYSE: IMAX) today announced an expansion of their longstanding partnership spanning key European cinema markets. Under the agreement, ODEON will upgrade six IMAX theatres across the UK with state-of-the-art IMAX with Laser systems.
Additionally, ODEON and IMAX have set locations for nine previously contracted new theatres across Europe, including four new theatres in Spain, two in Italy, and one in each of Germany, Sweden, and the UK. All new locations will be installed by 2025.
The announcement was made today at the annual CineEurope convention in Barcelona, Spain.
"We are delighted to be expanding our long-running partnership with IMAX, as we continue to invest across our estate to make movies better for our guests. We have been encouraged by the amount of guests returning, seeking the most immersive experience possible, and we look forward to the rest of the year with confidence, buoyed by a range of great films to show them," Mark Way, President AMC Europe & Managing Director ODEON Cinemas Group commented.
"Europe has been a key driver of the resurgence in global cinema, with audiences returning in strong numbers for this incredible blockbuster slate and exhibitors like ODEON raising the bar for the theatrical experience," said Rich Gelfond, CEO of IMAX. "As we grow market share around the world, IMAX continues to grow, diversify, and enhance its global network, and this new agreement with our longstanding partners at ODEON further accelerates our momentum."
ODEON and IMAX have enjoyed a longstanding partnership spanning nearly fifteen years. ODEON opened its first IMAX theatre in 2008 and the two companies signed an agreement for 25 IMAX theatres in 2017, which still stands as IMAX's largest European theatre agreement in its history. ODEON is currently IMAX's largest partner in Europe, with 34 theatres currently in operation, and an additional 11 new locations will be installed by 2025. Four of IMAX's top five highest grossing locations in Europe are in ODEON cinemas.
IMAX with Laser is IMAX's most advanced theatre experience, 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 is a premier global technology platform for entertainment and events. Through its proprietary software, theater architecture, patented intellectual property, and specialized equipment, IMAX offers a unique end-to-end solution to create superior, immersive content experiences for which the IMAX® brand is globally renown. Top filmmakers, movie studios, artists, and creators utilize the cutting-edge visual and sound technology of IMAX to connect with audiences in innovative ways. As a result, IMAX is among the most important and successful global distribution platforms for domestic and international tentpole films and, increasingly, exclusive experiences ranging from live performances to interactive events with leading artists and creators.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2022, there were 1,690 IMAX theater systems (1,606 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 Enhanced™, 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).
About ODEON Cinemas Group
ODEON Cinemas Group is proud to be Europe's largest cinema operator, with brands in the UK, Ireland, Sweden, Finland, Norway, Spain, Italy, Germany and Portugal.
We welcome 100 million+ guests each year to enjoy great hospitality while watching the latest films and entertainment in 290+ cinemas and 2,500 screens.
We make movies better by developing world-class cinemas that deliver memorable entertainment experiences for our guests, while offering fantastic careers for our people.
As an AMC company, ODEON Cinemas Group is part of the largest movie exhibitor in the world with around 950 theatres and 10,500 screens. Together, we make movies better.
For additional information please contact:
For IMAX Corporation:
Investors:
Heather Anthony
hanthony@imax.com
212.821.0121
Media:
Mark Jafar
mjafar@imax.com
212.821.0102
For ODEON Cinemas Group:
Will Palfreyman
Odeon@tulchangroup.com
Main: +44 (0)20 7353 4200
Mobile: +44 (0)7796 016 191
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SOURCE IMAX Corporation
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