NEW YORK, April 19, 2016 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and UCI KINOWELT, one of the largest exhibition chains in Germany, announced an agreement for an IMAX® theatre featuring IMAX's next-generation laser technology – IMAX® with Laser. The theatre will be added to a new UCI KINOWELT multiplex to be located in the Mercedes Benz Platz development – a groundbreaking new urban area in the heart of Berlin that includes commercial, office, hotel and leisure activities built around the Mercedes Benz Arena. UCI KINOWELT is the German subsidiary of Europe's largest exhibitor and IMAX partner ODEON & UCI Cinemas Group. With today's agreement, ODEON & UCI Cinemas Group has a total IMAX footprint of 18 theatres including 14 in the UK, two in Spain, one in Italy and one in Germany.
"We are delighted to forge a relationship with UCI KINOWELT and expand our partnership with ODEON & UCI Cinemas Group. By adding an IMAX theatre in a high profile Berlin site with one of the nation's leading exhibitors, we are executing on our growth strategy in this priority market," said Andrew Cripps, President, IMAX International. "We continue to gain traction in Germany - one of the world's top box office territories. In the past 12 months, our theatres have had some of the highest IMAX per-screen averages in Europe and since installing IMAX® with laser at two of our commercial sites in Germany, admissions have increased by approximately 30 percent year over year."
"We have witnessed the impressive results that IMAX has generated in Germany and throughout Europe and are confident that IMAX will deliver an amazing experience that will delight our guests and support our growth," said Paul Donovan, CEO, ODEON & UCI Cinemas Group. "Our exciting new Mercedes Benz Platz site will serve as the flagship multiplex of our circuit in Germany and be one of the most impressive cinemas in Europe, offering guests a premium, state-of-the-art entertainment experience. IMAX with Laser is a perfect fit for this complex, where only the best, most advanced cinema technology will do."
IMAX with laser represents a quantum leap forward in cinema technology — providing audiences with the sharpest, brightest, clearest and most vivid digital images ever, combined with a whole new level of immersive audio. Designed from the ground up for IMAX's largest screens, the dual 4K laser projection system is equipped with a new optical engine and suite of proprietary IMAX technologies capable of projecting an image with up to a 1.43:1 aspect ratio with maximum resolution and sharpness, unparalleled 2D and 3D brightness, industry-leading contrast and an expanded color gamut that will allow filmmakers to present more vivid and exotic colors than ever before.
The new system also includes IMAX's next-generation sound technology that delivers even greater power and precision for ultimate audio immersion. It has been upgraded to 12 discrete channels plus sub-bass, and includes additional side channels as well as new overhead channels that will improve the system's ability to position sounds around the audience and further ensure every seat is the best in the house.
About ODEON & UCI Cinemas Group
ODEON & UCI Cinemas Group is the largest cinema operator in Europe. The Group is the leading cinema operator in the UK & Ireland, Spain and Italy, and has strong positions in Germany, Austria and Portugal. It operates 2,238 screens at 243 sites across Europe.
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, 2015, there were 1,061 IMAX theatres (943 commercial multiplexes, 19 commercial destinations and 99 institutions) in 67 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®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
For additional information please contact:
IMAX Corporation – New York
Sloane & Company – New York
IMAX Corporation – New York
Principal Communications Group – Los Angeles
Melissa Zuckerman/Paul Pflug
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SOURCE IMAX Corporation