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Hong Kong, China—Dec 6, 2011
IMAX Signs Deal with Indonesia's Largest Exhibitor
Agreement Marks Indonesia's First Commercial IMAX Theatres
IMAX Corporation (NYSE: IMAX; TSX: IMX) and Cinema 21, Indonesia's largest exhibitor, today announced an agreement to install two digital IMAX® theatres in Jakarta. Under the terms of the agreement, the first system is scheduled to be installed at Gandaria City, South Jakarta in May 2012, with the second IMAX system to be installed in Jakarta by 2013.
"The addition of IMAX theatres to our circuit reinforces our commitment to delivering the best cinematic experience possible to our patrons," said Mr. Suryo Suherman, President of Cinema 21. "The IMAX brand is widely recognized among Indonesian movie-goers and we are confident that today's agreement will be a tremendous success both for our business and the satisfaction of our guests."
"Today's agreement marks an important step in our international network expansion and we are pleased to partner with one of South East Asia's largest exhibitors to penetrate a region that is poised for tremendous growth," said Richard L. Gelfond, CEO, IMAX. "Recent reports indicate Indonesia has a population of approximately 240 million and it continues to grow. With 36 percent of that population being between the ages of 15 and 40, we believe there is a strong demand for Hollywood's largest blockbusters to be presented in our immersive format."
Commenting on the agreement, Don Savant, IMAX's Senior Vice President and Managing Director, Asia Pacific said, "Cinema 21 has set the standard for quality in the South East Asian exhibition industry and we are proud to partner with them to bring the first commercial IMAX theatres to Indonesia to head their flagship locations."
IMAX's digital projection system delivers The IMAX Experience® and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX® 3D presentations.
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 Dec. 31, 2016, there were 1,215 IMAX theatres (1,107 commercial multiplexes, 16 commercial destinations and 92 institutions) in 75 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 Cinema 21:
Indonesian exhibition and distribution giant Cinema 21 Group operates a total of more than 800 screens in 33 cities across the Indonesian archipelago. These include Indonesia’s very first IMAX theatre in the Greater Jakarta suburb of Gandaria City.
Cinema 21 Directory page
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