Imax® And Cineplex Expand Long-Term Partnership With Additional Imax Locations Across Canada
Five New Locations Added and Agreement Extended through 2028 as Canada's Largest Exhibitor Reaffirms its Partnership with IMAX®
TORONTO, July 25, 2023 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Cineplex Inc. (TSX: CGX.TO) today announced an expansion of their longstanding partnership with new state-of-the-art IMAX systems in key locations across Canada. The deal adds an additional five new IMAX systems across the country, as well as two upgrades to IMAX with Laser. Further to new theatre signings, Cineplex has also reaffirmed its strong commitment to IMAX with the renewal of agreement terms for 24 existing IMAX locations through 2028.
"Our successful 25-year partnership with Cineplex has been instrumental in growing the IMAX network across Canada, and this deal represents Cineplex's renewed seal of trust in the value of the IMAX Experience to their thriving business," said Rich Gelfond, CEO of IMAX. "As we continue to drive strong market share worldwide, our recent network growth in the mature North American market demonstrates the breadth of demand for IMAX among exhibitors and consumers."
"Our partnership with IMAX has always been strong, and it speaks to the enduring value of the IMAX Experience," said Ellis Jacob, President and CEO, Cineplex. "Cineplex remains dedicated to providing unparalleled entertainment experiences for our guests and this expanded partnership with IMAX is a testament to our unwavering commitment to our audience and the industry we serve."
Cineplex and IMAX have enjoyed a long and successful 25-year partnership in the Canadian market. Inclusive of this new deal, the two companies now have a total of 29 IMAX locations in top-tier cities across the country, with agreement terms expanded through 2028. Cineplex is Canada's largest exhibitor and operates over 170 movie theatres and location-based entertainment venues.
With this expanded partnership, IMAX has signed agreements for 84 new or upgraded IMAX systems around the world in 2023 to date — more than the entirety of 2022. This includes agreements in key growth markets across Asia and Europe in addition to significant growth in North American markets with both new and long-term partners.
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 March 31, 2023, there were 1,711 IMAX systems (1,631 commercial multiplexes, 12 commercial destinations, 68 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 Cineplex Inc.
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of over 170 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for 'Eats & Entertainment' (The Rec Room), complexes specially designed for teens and families (Playdium), and a newly launched entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in digital commerce (CineplexStore.com), alternative programming (Cineplex Events), motion picture distribution (Cineplex Pictures), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media) and amusement solutions (Player One Amusement Group). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada and the United States. To learn more, visit Cineplex.com.
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
