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New York, NY—Mar 26, 2013
Indonesia's Largest Exhibitor Expands Imax® Footprint with Eight-Theatre Deal
Agreement Builds on Success of Cinema 21's Existing IMAX® Theatre
IMAX Corporation (NYSE: IMAX; TSX: IMX) and Cinema 21, Indonesia's largest exhibitor, today announced an agreement to install eight IMAX® theatres throughout Indonesia, bringing to 10 the exhibitor's total IMAX commitment. Cinema 21 currently has an IMAX theatre open in Gandaria City, South Jakarta, and another slated to open in Kelapa Gading, North Jakarta.
"Due to the success, superior quality and performance of our IMAX theatre in South Jakarta, we have exercised our option to expand our relationship with IMAX to further penetrate the Indonesia market," said Mr. Suryo Suherman, President of Cinema 21. "We believe that IMAX provides a unique and differentiated premium experience that our guests appreciate and will continue to seek out, further strengthening our business."
"Today's agreement marks an important step in expanding our presence in the Indonesian market - the most populous country in Southeast Asia, with one of the more robust economies in the region ," said Richard L. Gelfond, CEO of IMAX. "Cinema 21 is a strategic partner that will help IMAX seize the growth opportunities that exist in Indonesia, where consumer spending and investment remain strong and the demand for IMAX continues to build."
Commenting on the agreement, IMAX Senior Vice President and Managing Director, Asia Pacific Don Savant said, "When the nation's largest exhibitor expands their IMAX business, it is truly an endorsement of the results IMAX delivers to its partners and underscores the level of enthusiasm we're seeing for The IMAX Experience® in Indonesia. We are delighted to strengthen our relationship with Cinema 21 and bring more audiences across the region the biggest blockbusters in the world's most immersive format."
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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