NEW YORK, March 30, 2015 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Ster-Kinekor Theatres, a division of Primedia (Pty) Ltd., today announced an agreement for two additional IMAX® theatres. The first IMAX theatre will be added to the exhibitor's upcoming multiplex at the Baywest Mall in Port Elizabeth, with a second to be added to an existing multiplex at the Cradlestone Mall in Johannesburg. The deal brings Ster-Kinekor's IMAX footprint to six theatres with three currently open in Durban, Pretoria and Cape Town and another slated to open in Johannesburg.
"It is our aim to pioneer the advancement of cinema across South Africa as well as Africa, to ensure that consumers get to experience movies the way they were meant to be," said Doug Place, Marketing Executive, Ster-Kinekor. "IMAX is a key enabler of this strategy and we're delighted to expand our relationship, which is directly related to our complexes' incremental box office as a result of IMAX."
"In just 15 months, Ster-Kinekor opened its first IMAX theatre and, building on its success, has since gone on to expand its IMAX commitment to six theatres in the very important South African market," said Andrew Cripps, President of IMAX EMEA. "As the industry leader in Africa, with a presence in five countries, Ster-Kinekor is actively growing its network as evidenced by its new build in Port Elizabeth. As an extraordinary operator and IMAX brand ambassador, Ster-Kinekor is the perfect partner to help us grow our business in Africa."
About Ster-Kinekor Theatres
Ster-Kinekor Theatres is a wholly-owned subsidiary of the Primedia Group and is the largest movie exhibitor on the African continent. The company operates 54 commercial cinema complexes in South Africa, with five international sites based in Lesotho, Namibia, Zambia and Zimbabwe. The cinema chain's sites house more than 450 large-scale screens, over 64000 seats and the largest 3D footprint featuring more than 120 state-of-the-art 3D screens across the country.
As the industry leader, Ster-Kinekor has pioneered cinema concepts such as Cinema Nouveau, one of the world's largest dedicated art-house multiplex circuits, and the luxurious Cine Prestige theatres, the first 'business class' cinema experience in South Africa. It boasts one of the few cinemas on the continent that is fitted with the advanced Dolby Atmos sound system (at Gateway in Durban); and has headed the return of The IMAX® Experience, with the opening of the IMAX® Theatre at Gateway in 2013, and The Grove in June and Cape Gate in December 2014.. As one of South Africa's most loved brands, it is Ster-Kinekor's ongoing mission to become synonymous with the unrivalled magic of the cinema experience, by providing 'Great Moments at Their Greatest'. During 2013, the company embarked on a massive roll-out project to convert and equip every cinema with the very latest in digital projection and sound technology. The result of this upgrade is that every cinema now boasts state-of-the-art cinema technology that encompasses 2K and 4K digital projection and 5.1 and 7.1 surround sound systems.
The award-winning SK App, which is downloadable on all smart phone operating systems, is interactive, user-friendly and feature-rich, and has recently recorded over 1.6-million downloads. The new-look SK Club loyalty programme rewards members with redeemable points when they swipe their card when buying movie tickets or catering. Combined with industry leading loyalty programmes from Edcon and Discovery Vitality, these give Ster-Kinekor a strong consumer value proposition and competitive advantage.
As the market leader, Ster-Kinekor aims to spearhead the advancement of cinema across both South Africa and the rest of Africa, to ensure that consumers continue to experience movies as they were made to be seen – on the big screen.
See more at: www.sterkinekor.com
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, 2014, there were 934 IMAX theaters (809 commercial multiplexes, 19 commercial destinations and 106 institutions) in 62 countries.
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
SOURCE IMAX Corporation