IMAX Corporation (NYSE: IMAX; TSX: IMX) and CineStar Cinemas, Germany's largest exhibitor and a subsidiary of Amalgamated Holdings Ltd., Australia's leading entertainment and hospitality company, today announced the expansion of the parties' revenue-sharing agreement with an additional IMAX® theatre to be installed at the Filmpalast am ZKM complex in Karlsruhe, Germany. The deal follows the parties' recent June opening of an IMAX theatre at the landmark CineStar Sony Centre multiplex in Berlin and brings CineStar Cinemas' IMAX commitment to two theatres.
"With today's agreement we are building on the tremendous success of our existing IMAX theatre, which has already strengthened the complex's overall box office and ranked as the number one screen in Germany for Gravity," said Oliver Fock, Managing Director Film for CineStar. "We're excited to bring another IMAX theatre to Germany, which will serve as a premium attraction in our Karlsruhe complex. We remain committed to providing our customers the best cinematic experience and we believe our investment in IMAX and its ground-breaking laser technology is a natural extension of this strategy."
"We're extremely pleased to see how well CineStar's Sony Centre IMAX is already performing and look forward to strengthening our partnership by bringing another fantastic location to Germany," said Andrew Cripps, President, IMAX EMEA. "Our valuable relationships with leading exhibitors such as CineStar will support our expansion efforts in the strategically important market and help us to bring The IMAX Experience® to more moviegoers across Europe."
Under the terms of the agreement, the new IMAX theatre at the Filmpalast am ZKM complex will eventually transition to IMAX's next-generation laser digital projection system, which is expected to set a new benchmark as the industry's premium entertainment experience. The system, which represents the culmination of the largest R&D initiative in IMAX's history, incorporates the laser digital intellectual property IMAX exclusively licensed from Eastman Kodak and Barco's unique laser innovations. It is expected to set a new benchmark as the industry's premium entertainment experience and will enable IMAX's largest screens to deliver the highest-quality digital content available with greater brightness and clarity, a wider color gamut and deeper blacks.
About CineStar Cinemas
CineStar Cinemas is Germany's largest, most innovative and exciting cinema and entertainment provider. It's our intention to continually offer an exciting, vibrant and state-of-the-art means for our guests to enjoy all forms of entertainment as it's meant to be seen (on the BIG screen).