New Collaboration Brings State-of-the Art IMAX
with Laser to Thriving Turkish Cinema Market for First Time
NEW
YORK and ISTANBUL,
April 24,
2024 /PRNewswire/ -- CineNOVA and IMAX
Corporation (NYSE: IMAX) today announced a new partnership to
install four new state-of-the-art IMAX® with Laser systems in
Turkey. This agreement is the
first collaboration between the two companies and will bring the
first-ever premium IMAX with Laser systems to the country, marking
a significant milestone for the market. The deal will bring the
IMAX Experience to several key cities across Turkey, including Istanbul and Ankara, with installation for two of the
locations scheduled to commence in 2024, and the remaining two set
to open in 2025 and 2026.
"At CineNOVA, our mission has always been to provide our
audience with the service level and quality that cinema truly
deserves," said A. Hakan Askar, CEO
of CineNOVA. "With the experience accumulated over the years by the
CineNOVA team, we are dedicated to transforming the cinema
landscape in Turkey once again. We
are excited to contribute to the Turkish cinema industry with the
best technology available, coupled with the best operations
management possible – this partnership with IMAX exemplifies our
dedication to providing our patrons with unforgettable cinematic
experiences."
"Turkey is exemplary of the
growth opportunities at hand for IMAX around the world; it is a
market with a passionate moviegoing audience where IMAX is breaking
box office records with significant room to grow our footprint,"
said Rich Gelfond, CEO of IMAX.
"We're excited to join forces with CineNOVA, a new and ambitious
player bringing fresh energy to the Turkish exhibition landscape,
to offer IMAX with Laser to the country for the first time."
The strong performance of IMAX at the global box office in 2023
and 2024 to date continues to generate results and greater demand
among global exhibitors. IMAX has been operating in Turkey since 2000 and currently has eight
locations in the country, and this new deal with CineNOVA
represents a 50% increase in IMAX's presence in the country. Three
of the country's top five highest grossing titles for
IMAX have been released since the end of 2022:
"Oppenheimer" is the top grossing film ever,
"Avatar: The Way of Water" is the second highest
grossing film ever, and "Dune: Part Two" is the third
highest grossing film ever. The country is also one of the Top 25
highest grossing markets for IMAX in 2024, and one of the Top 10
highest-grossing European markets for IMAX in 2024.
The four new CineNOVA locations in Turkey will be equipped with IMAX with Laser,
IMAX's most advanced experience. 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. The new locations will be set apart by the groundbreaking
4K laser projection system that
features a new optical engine, custom-designed lenses, and a suite
of proprietary technology, all of which delivers brighter images
with increased resolution, deeper contrast, and the widest range of
colors exclusively to IMAX systems.
About CineNova
CineNOVA is a leading innovator in the Turkish cinema industry,
committed to providing audiences with unforgettable cinematic
experiences. With a focus on service excellence and cutting-edge
technology, CineNOVA aims to redefine the moviegoing experience
across Turkey. By combining
culture and experience, CineNOVA aims to offer more than just a
place to watch movies; it strives to create an immersive and
culturally rich environment that enhances the overall enjoyment of
the audience.
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.
IMAX is headquartered in New
York, Toronto, and
Los Angeles, with additional
offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2023, there were 1,772 IMAX systems
(1,693 commercial multiplexes, 12 commercial destinations, 67
institutional) operating in 90 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® 3D, Experience It In
IMAX®, The IMAX Experience®, DMR®,
Filmed For IMAX®, IMAX LIVE™, and IMAX
Enhanced® are trademarks and trade names of IMAX
Corporation 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), LinkedIn (www.linkedin.com/company/imax),
X (www.twitter.com/imax), and YouTube
(www.youtube.com/imaxmovies).
For additional information please contact:
Investors:
Jennifer Horsley
jhorsley@imax.com
Media:
Mark Jafar
mjafar@imax.com
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SOURCE IMAX Corporation
