New Agreement Doubles IMAX's Footprint
with Paris-Based Exhibitor in Thriving French
Cinema Market
PARIS and NEW
YORK, May 15, 2024 /PRNewswire/ -- French
exhibition company MEGARAMA and IMAX Corporation (NYSE: IMAX) today
announced an agreement for three new state-of-the-art IMAX® with
Laser systems across France. The
deal will bring The IMAX Experience to key locations across
the country, including one system in a large city in the north of
France – set to open in 2025 – and
two locations in the suburbs of the country's populous capital,
scheduled to open in 2026.
The new agreement doubles IMAX's footprint with the Paris-based exhibitor in France and marks the second deal in just over
a year for the two companies. Inclusive of this agreement, IMAX and
MEGARAMA currently operate two locations in France – with four more in backlog in the
country – and one additional location in backlog in Morocco.
"This new agreement with IMAX allows us to offer our audience an
enriched and distinctive cinematic experience, catering to those
seeking new emotions and premium technologies," said Jean-Pierre
LEMOINE, founder and President of MEGARAMA.
"MEGARAMA is an excellent partner that continues to steadily
increase its commitment to IMAX, making it clear that IMAX delivers
a strategic advantage and the best experience for audiences," said
Rich Gelfond, CEO of IMAX. "As we
continue to grow our global footprint, this new deal – our second
with MEGARAMA in a year – underscores the strong demand for The
IMAX Experience among audiences and exhibitors in France and worldwide."
The new agreement comes as IMAX continues to ride a consistent
wave of momentum in France, which
is a top ten global market for the Company. 2023 was the highest
grossing year ever for IMAX in the country, delivering over
$23 million in box office. In 2024,
the Company delivered its second-best Q1 ever in France, driven by the record run of "Dune:
Part Two", which now stands as the second-highest grossing film
ever in the country for IMAX with over $4.8
million in box office to date.
The three new MEGARAMA locations in France 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 MEGARAMA
MEGARAMA is a leading cinema operator in France, Spain, and Morocco, with a total of 38 multiplexes and
308 screens. Founded in 1996 by Jean-Pierre
Lemoine, MEGARAMA is committed to offering its guests the
best cinema experience, with state-of-the-art technology,
comfortable seating, and a wide range of films and events. MEGARAMA
is also a pioneer in the development of cinema in Africa, with a presence in Morocco since 2006 and plans to expand to
other countries in the continent. For more information, visit
www.MEGARAMA.com.
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 March
31, 2024, there were 1,772 IMAX systems (1,697 commercial
multiplexes, 12 commercial destinations, 63 institutional)
operating in 89 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:
For IMAX:
Investors:
Jennifer Horsley
jhorsley@imax.com
212.821.0154
Media:
Mark Jafar
mjafar@imax.com
212.821.0102
For Megarama:
Olivier Labarthe
ol@MEGARAMA.com
33 616 907 055
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SOURCE IMAX Corporation