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Las Vegas, NV—Mar 29, 2011

Imax and Cinema Park Sign Eight-Theatre Deal in Russia

Russia's Cinema Park Becomes Europe's Largest IMAX Exhibitor
IMAX Corporation (NYSE:IMAX) (TSX:IMX) and Cinema Park, an exhibition chain owned by Russia's largest media holding company, Profmedia, today announced a sale agreement to install eight digital IMAX® theatre systems. Slated for installation in 2012 and 2013, the IMAX theatres will be located in multiplexes in Kaliningrad, Ulyanovsk, Omsk, Krasnoyarsk, Tula, Penza, Stavropol and Irkutsk.

The eight systems announced today are in addition to the 10-system deal between IMAX and Cinema Park announced in July 2010, and bring the total number of IMAX theatres scheduled to be operating in Russia and the Commonwealth of Independent States (CIS) to 46 by 2014.  Russia and the CIS comprise IMAX's third-largest market, behind the United States and China.

IMAX theatres in Russia and the CIS continue to produce exceptional box office results. During the past year, the 17 IMAX theatres in the region have produced some of the highest per-screen box office averages in the world.

"The appetite for premium entertainment continues to grow in Russia, and we're very happy to be able to satisfy that appetite with The IMAX Experience®. The remarkable success of our first four IMAX theatres has demonstrated that the IMAX brand resonates very well with Russian moviegoers," said Sergei Kitin, General Director of Cinema Park. "We are pleased to add more locations, and we look forward to bringing the world's most immersive cinema experience to even more moviegoers throughout Russia and the CIS."

"It is very encouraging to see the success of existing IMAX theatres with prominent exhibitors translate into additional locations, particularly in parts of the world where we see significant growth potential," said IMAX CEO Richard L. Gelfond. "Cinema Park has a strong, highly recognized brand throughout the Russian market, making it an ideal partner as we continue to focus on network expansion in the region."

Larry O'Reilly, IMAX Executive Vice President, Theatre Development added, "Today's announcement is a significant step for IMAX in the Russia and CIS market and we're looking forward to working with Cinema Park to carry the momentum of its initial IMAX success into the years ahead with these additional 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 additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2017, there were 1,302 IMAX theatres (1,203 commercial multiplexes, 11 commercial destinations and 86 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
Countries:
Russia

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More IMAX News:
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Apr 19, 2018 IMAX and Cinépolis Sign New Four-Theatre Agreement as Demand for IMAX in India Builds
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Sep 26, 2017 Dadi Cinema Enters IMAX Business with Five-Theatre Agreement in China
Sep 12, 2017 Malco Theatres Enters IMAX Business with Two-Theatre Agreement in the U.S.
Aug 24, 2017 IMAX and Cineplex Expand Partnership, Adding Two Auditoriums and IMAX VR Centre in Canada
Jul 18, 2017 IMAX Signs Seven-Theatre Agreement with Shanghai Bestar Cinemas in China
May 24, 2017 IMAX Continues Rapid Expansion with Les Cinémas Gaumont Pathé in Europe; Signs an Additional Six-Theatre Agreement for the Group’s Top-Performing Locations in France and Holland
Apr 26, 2017 PVR Cinemas Doubles its IMAX Footprint with Five-Theatre Agreement in India
Apr 18, 2017 IMAX and Omnijoi Cinemas Expand Partnership in China with 40-Theatre Agreement
Apr 11, 2017 IMAX Signs Agreement with AMC Entertainment for 25 New IMAX® Theatres at Odeon Cinemas Group and Nordic Cinema Group Locations; Marking Largest European Agreement in IMAX History
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