IMAX Corporation (NYSE:IMAX) and Vue International (Vue), the multiple-award-winning operator of modern state-of-the-art multiplex cinemas, today announced an agreement for two IMAX® theatres in England.
One theatre will be added to the Vue Cheshire Oaks multiplex in Cheshire with the second to go into the Vue Leeds Kirkstall complex in West Yorkshire. The agreement builds on the recent box office success of the exhibitor’s newly opened IMAX theatre at the Fisketorvet Copenhagen Mall in Denmark, operated by Vue subsidiary CinemaxX. The theatre opened on April 22 with Avengers: Age of Ultron and has become the highest-grossing site in Denmark and the third highest-grossing IMAX site for the film worldwide.
“Over the years, we’ve observed the impressive results that IMAX has generated in the UK and abroad. During the inaugural opening weekend of our first-ever IMAX theatre in Copenhagen, we were seriously impressed by the box office success and witnessed first-hand the power of IMAX to deliver an unparalleled cinema experience and bottom-line results,” said Tim Richards, CEO and Founder, Vue International. “We’re delighted to build on this early IMAX success with today’s agreement. The IMAX brand and immersive format will serve as a key differentiator in our multiplexes and we are confident it will be embraced by more of our guests and help drive our continued growth.”
“Our UK network has more than doubled since 2012. This success is due in large part to our strategic partnerships and, as such, we’re delighted to expand our relationship with one of the fastest-growing exhibitors in Europe,” said Andrew Cripps, President, IMAX EMEA. “With a network that spans nine countries, Vue is committed to developing a truly international network leveraging state-of-the-art technology. We believe our new partnership will not only support our mutual growth in the UK, but also present opportunities for further collaborations across Europe.”
“Our differentiated format, coupled with our highly anticipated film slate over the next several years continues to drive strong demand for new IMAX theatres around the world,” said IMAX CEO, Richard L. Gelfond. “We’re delighted by Vue’s early IMAX success and its confidence in IMAX to strengthen its business - a sentiment held by leading exhibitors worldwide.”