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New York—Sep 4, 2013
IMAX® Adds Three Theatres in the Middle East Under Expanded Partnership with Gulf Film
Region's Largest Exhibitor to Bring The IMAX Experience® to New Locations in Qatar, Bahrain and the UAE
IMAX Corporation (NYSE: IMAX; TSX: IMX) and Gulf Film today announced an expansion of their partnership with a revenue share agreement for three IMAX® theatre systems in the Middle East. Under the terms of the agreement, one of the IMAX theatres will be located in an existing multiplex in Dubai, United Arab Emirates, and two will be located in new flagship cinemas in Qatar and Bahrain.
"Since upgrading to the IMAX digital system in 2011, our IMAX theatre in Dubai has dramatically increased its business and has had a major impact on our overall box office performance," said Jaber Al Ansari, Managing Director, Gulf Film. "Today's agreement, which is a direct result of this success, marks a milestone in the region's film entertainment landscape and highlights the growing demand for IMAX among audiences in the Middle East. As we expand our circuit, IMAX will continue to serve as a key differentiator in our offering, bringing movie-goers the world's most immersive cinematic experience."
The deal brings to four Gulf Film's total IMAX commitment and brings to 10 the total number of commercial IMAX theatres in the Middle East.
"With 50 percent of the population under 25 and a growing appetite for Hollywood blockbusters, we view the Middle East as a region with tremendous growth potential and, with today's agreement, we are capitalizing on these opportunities and executing against our goal of international network expansion," said IMAX CEO Richard L. Gelfond. "Gulf Film is the number one exhibitor in the Middle East and has its pulse on the market's film and exhibition industry. Our partnership will not only bring IMAX to three countries across the region, it will play a strategic role in helping to support our continued growth efforts in this emerging market."
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 theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is 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 offices in London, Tokyo, Shanghai and Beijing. As of September 30, 2015, there were 1,008 IMAX theatres (887 commercial multiplexes, 19 commercial destinations and 102 institutions) in 66 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX Corporation Directory page
About Gulf Film:
Gulf Film is the Middle East's leading film distributor and exhibitor. Established in 1989, Gulf Film operates the region's largest chain of theatres, Novo Cinemas, today spanning 14 multiplexes across the UAE, Qatar and Jordan, for a total of 115 screens and 22,000 seats. Ongoing expansion will see this number of screens double within the next two years. In 2012, Gulf Film was acquired by ELAN Qatar LLC. With a history of over ten years in the local, regional and international market, ELAN brings the very best in media, events, urban and entertainment services. 100% owned by Qatar Development Bank (QDB) a Qatari Government entity, ELAN is growing from strength to strength and has matured into one of the region's top advertising and media services companies.
Gulf Film Directory page
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