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New York—Jul 12, 2016
Ster-Kinekor Expands Imax Footprint with Three-Theatre Agreement in South Africa
Africa's Largest Exhibitor Adds 10 IMAX® Theatres to Circuit in Less Than Three Years; Deal Builds on IMAX Network and Box office Growth in Africa
IMAX Corporation (NYSE:IMAX) and Ster-Kinekor Theatres, a division of Primedia (Pty) Ltd., today announced an agreement for three new IMAX® theatres in South Africa with locations to be confirmed. The deal brings Ster-Kinekor's IMAX footprint to 10 theatres with seven currently open in cities throughout South Africa, including three in Johannesburg and one each in Port Elizabeth, Cape Town, Pretoria and Durban.
"Ster-Kinekor entered the IMAX business back in 2013 when there were no IMAX theatres in South Africa and in less than three years, they've expanded their commitment to 10 theatres. This is a testament to their world-class marketing and operational efforts and the power of IMAX to thrill audiences and deliver results to our exhibition partners," said Andrew Cripps, President of International and EVP, IMAX Corporation. "In Africa, our year-over-year box office is up 125% and we've signed theatre agreements in Nigeria, Angola and Kenya in the past 12 months alone. As we continue to work closely with exhibition leaders such as Ster-Kinekor, we will capitalize on the many growth opportunities that exist in this underpenetrated market where there is a growing appetite for The IMAX Experience®."
"Our commitment is to offer consumers an unparalleled entertainment experience and IMAX is an essential part of this growth strategy. The performance of our existing IMAX theatres is tremendous and today's agreement is a direct result of this success," said Wanda Matandela, CEO of Ster-Kinekor Theatres . "We are proud to be the largest IMAX exhibitor in Africa and look forward to bringing the world's most immersive cinematic experience to even more of our guests in South Africa."
Since the opening of the first IMAX theatre at Gateway in Durban in 2013, the footprint has already increased to seven, with a further three cinemas in the pipeline this year. Ster-Kinekor continues to enjoy support from its loyal customers for this premium cinematic experience. With the cinemas fitted with the latest digital technology and screening the film studios' biggest blockbusters in this immersive format, the country's leading cinema chain is able to deliver on its promise to provide 'great moments at their greatest'.
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 Ster-Kinekor Theatres:
Ster-Kinekor Theatres is a wholly-owned business within the Primedia Group and is the largest movie exhibitor on the African continent. To most South Africans, the word 'movies' is synonymous with the name 'Ster-Kinekor'. The company operates 57 commercial cinema complexes in South Africa, with six international sites based in Namibia, Zambia and Zimbabwe. The cinema chain's sites house more than 480 large-scale screens, over 87 264 seats and the largest 3D footprint featuring more than 140 state-of-the-art 3D screens across the country.
Ster-Kinekor Theatres Directory page
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