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IMAX Corporation (NYSE: IMAX) stands as a premier global technology platform for entertainment and events. Renowned for its immersive cinematic experiences, IMAX combines proprietary software, specialized auditorium architecture, and patented technology to deliver unparalleled visual and sound quality. The company's innovative approach enables it to be a leader in multiple facets: as a technology innovator, a Hollywood collaborator, and a global enterprise.
IMAX partners with top filmmakers and studios to enhance blockbuster movies and documentaries, ensuring that every film shown in its theaters offers a unique, awe-inspiring experience. The company's state-of-the-art systems are operational in over 1,772 theaters across 90 countries, making it a dominant force in the global cinema landscape.
Recent achievements highlight the company's robust performance and innovation. For instance, IMAX recorded a stellar 22% of the global box office for 'Dune: Part Two' in its second weekend, marking the biggest global weekend market share in the company's history. Furthermore, IMAX has expanded its footprint by partnering with Major Cineplex in Thailand and Miraj Cinemas in India, adding numerous state-of-the-art IMAX with Laser systems.
Financially, IMAX remains solid with significant liquidity and a strategic share-repurchase program aimed at enhancing shareholder value. As of March 31, 2024, the company reported available liquidity of $367.0 million and continues to invest in technology and global expansion.
IMAX's commitment to innovation extends beyond just films. It is also a pioneer in live events, gaming, and virtual reality experiences. Additionally, the company maintains a strong presence on social media and regularly engages with its audience through platforms like Instagram, Facebook, LinkedIn, X (formerly Twitter), and YouTube.
Headquartered in New York, Toronto, and Los Angeles, IMAX also operates offices in London, Dublin, Tokyo, and Shanghai. The company continues to drive forward with plans for further global expansion and technological advancements, solidifying its position as a leader in the entertainment industry.
IMAX Corporation has secured a major partnership with EVO Entertainment Group to install eight new IMAX® with Laser systems, marking its most significant expansion in North America in a decade. The agreement includes seven locations in Texas, including Houston and Austin, and one in Florida, with openings expected by Q3 2023. This collaboration, announced at CinemaCon 2023 in Las Vegas, signifies IMAX's commitment to enhancing movie-going experiences. To date, IMAX has signed 63 agreements for new or upgraded systems worldwide in 2023, surpassing the total for all of 2022. The new technology promises brighter images, deeper contrast, and a wider color range, enhancing the premium cinema experience.
IMAX Corporation (NYSE: IMAX) announces an expansion of its partnership with CMX Cinemas to add three IMAX with Laser systems in Florida. This agreement nearly doubles IMAX's presence with CMX in the state, introducing two new locations in Daytona Beach and Palm Beach and upgrading one site in Miami. The deal comes amid strong box office results, highlighted by IMAX's record-breaking performance with 'Avatar: The Way of Water.' The existing partnership, which began in 2017, now includes a total of eight locations across the eastern U.S. The new installations will leverage advanced IMAX technology, aiming to enhance the cinematic experience for moviegoers.
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.
IMAX Corporation made a significant debut at the 100th NAB Show, showcasing its innovations in video quality and streaming technology. The company received the prestigious Product of the Year award for its SSIMWAVE subsidiary's VOD Monitor tool. At the event, IMAX executives discussed enhancing the streaming experience while preserving creative intent. Key highlights included the introduction of Stream Smart™ technology, aimed at improving streaming economics, and productive discussions with industry partners. With a legacy in theatrical experiences, IMAX is extending its reach into the streaming landscape, connecting with top media corporations and leveraging AI-driven solutions to enhance viewer experiences.
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