IMAX AND KINEPOLIS EXPAND LONGSTANDING PARTNERSHIP WITH EIGHT IMAX SYSTEMS ACROSS EUROPE AND NORTH AMERICA
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New Agreement Spans France, Belgium, Spain, the United States, Canada, as well as the First-Ever IMAX Location in Luxembourg
CANNES, France, May 17, 2023 /PRNewswire/ — Kinepolis and IMAX Corporation (NYSE: IMAX) today announced a global expansion of their longstanding partnership with eight state-of-the-art IMAX® with Laser systems across Europe, Canada and the U.S. The agreement includes four new locations across Europe — including France, Belgium, Spain, and the first-ever IMAX system in Luxembourg — as well as a new location in Michigan and Ontario and two upgraded systems in Ontario.
The announcement was made today from the 2023 Cannes Film Festival.
The new agreement nearly doubles IMAX’s footprint with the Belgium-based international exhibitor and its subsidiaries, including a first-time collaboration with MJR Cinemas, a U.S. subsidiary of Kinepolis. At present, IMAX partners with Kinepolis and its subsidiaries on seven locations currently in operation across Belgium and Canada. Under the agreement, IMAX will enter new territories with Kinepolis in Canada, Belgium, France and Spain, and Luxembourg.
“This agreement shows our continued commitment to invest in the ultimate movie experience, allowing more film lovers the opportunity to watch films in IMAX,” said Eddy Duquenne, CEO of Kinepolis Group. “Moviegoers increasingly expect premium movie experiences and we know from our customers IMAX meets those expectations in every way. We are happy and proud to announce this extended partnership, which we believe will bring value to everyone involved.”
“In a year in which IMAX continues to drive very strong sales activity, this agreement marks our biggest multi-territory deal to date — underscoring the surging demand for the IMAX Experience across regions and even into new markets,” said Rich Gelfond, CEO of IMAX. “Kinepolis is an outstanding international exhibitor and we look forward to serving more of their customers across the world as the company deepens its commitment to providing the best possible cinematic experiences.”
The deal was established as an amalgamation of signings with Kinepolis and their wholly owned subsidiaries, MJR Digital Cinemas and Landmark. MJR Digital Cinemas operates locally in the Metro Detroit area in Michigan, while Landmark operates theatres across several provinces in Canada.
Many of the countries where theatres will be opened as part of this agreement are top markets for IMAX with significant box office momentum, including red-hot France and the United States.
The eight new and upgraded locations for Kinepolis and its subsidiaries will be equipped with IMAX with Laser, IMAX’s most advanced theatre 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. The experience is set apart by a ground-breaking 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, 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/company/imax).
Kinepolis Group NV was formed in 1997 as a result of the merger of two family-run cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. In addition to its cinema business, the Group is also active in film distribution, event organisation, screen publicity and property management.
In Europe, Kinepolis Group NV has 63 cinemas spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Since the acquisition of Canadian movie theatre group Landmark Cinemas and American movie theatre group MJR Digital Cinemas, Kinepolis also operates 38 cinemas in Canada and 10 in the US.
In total, Kinepolis Group currently operates 111 cinemas worldwide, with a total of 1,138 screens and more than 200,000 seats. Kinepolis’ employees are all committed to giving millions of visitors an unforgettable movie experience. More information on www.kinepolis.com/corporate.
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SOURCE IMAX Corporation
Originally published at https://www.prnewswire.com/news-releases/imax-and-kinepolis-expand-longstanding-partnership-with-eight-imax-systems-across-europe-and-north-america-301827533.html
Some images courtesy of https://pixabay.com
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