Date: April 14, 2016
IMAX Corporation (NYSE: IMAX), IMAX China Holding Inc., and IN89 Digital Cinemax Co. Ltd. (IN89), a leading exhibitor in Taiwan, announced an agreement for two IMAX theatres. Both theatres will be added to new construction projects located in the Ji’an Township of the Hualien county and in the city of Jiayi. The agreement brings to 15 the total number of IMAX theatres in Taiwan.
“We believe IMAX’s world-renowned cinema technology coupled with its film slate of the biggest Chinese and Hollywood blockbusters will support our expansion efforts and help increase our market share,” said Mr. Ben Cai, CEO of IN89 Digital Cinemax Co. Ltd. “With IMAX, we are delivering the best entertainment experience possible to our guests and we look forward to launching an exciting new chapter of immersive movie-going for audiences in Hualien and Jiaiyi.”
“We are delighted to welcome IN89 as our newest Asia Pacific partner and together look forward to seizing the growth opportunities that exist in Taiwan, where our per screen average (PSA) of over $1.6 million significantly surpasses our global PSA of $1.1 million,” said Richard L. Gelfond, CEO IMAX. “Exhibitors worldwide recognize that IMAX delivers an event-based experience for tentpole films like nothing else can. Given this and the enthusiasm among exhibitors around our 2016 and 2017 film slates, our theater deal activity continues to be robust.” [FULL STORY]