Toronto, Canada - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Vie Show Cinemas, the leading exhibitor in Taiwan, today announced an agreement to open an IMAX® theatre in its Sun Cinemas multiplex in the city of Taipei. The installation is scheduled to be completed to take advantage of IMAX's robust 2009 Hollywood slate. The deal continues IMAX's international expansion momentum, which has been fueled by the introduction of IMAX's digital projection technology. There are currently 75 IMAX theatres scheduled to be operating in Asia by 2012. To date, IMAX has signed contracts for more than 200 IMAX digital projection systems worldwide, with 46 currently in operation and at least 115 scheduled to be in operation by year end.
"IMAX theatres offer the world's most immersive movie experience, and consumers in Asia have demonstrated they are willing to pay a premium for it," said Charles Wang, Chairman of Vie Show Cinemas. "The economics of IMAX's digital projection system, combined with the increase in Hollywood content being released in IMAX's format, made the decision to get into the IMAX business easy. We're very excited to install the system during the first quarter, with the goal of offering our customers most of this year's strong IMAX film slate."
"VieShow has a very strong brand in Taiwan and we believe a partnership with them is an ideal way to strengthen our own brand in the country," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "This partnership also advances our overall growth strategy in Asia, by adding another well-known exhibitor to the IMAX network and maximizing visibility with consumers in the region."
"We're very excited to work with VieShow to change the way moviegoers experience Hollywood movies in Taiwan," added Larry O'Reilly, IMAX's Executive Vice president, Theatre Development. "Our digital projection technology continues to fuel exhibitor interest in the IMAX business, and we are delighted that this interest has resulted in a partnership with Taiwan's leading exhibitor."
IMAX's revolutionary 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.
Upcoming IMAX releases include:
The Dark Knight - Warner Bros. Pictures
Under the Sea 3D - IMAX / Warner Bros. Pictures
Watchmen - Warner Bros. Pictures / Paramount Pictures / Legendary Pictures
Monsters vs. Aliens 3D - DreamWorks Animation
Star Trek - Paramount Pictures
Night at the Museum: Battle of the Smithsonian - Twentieth Century Fox
Transformers: Revenge of the Fallen - DreamWorks Pictures / Paramount Pictures
Harry Potter and the Half-Blood Prince (with scenes in IMAX 3D)- Warner Bros. Pictures
A Christmas Carol - Walt Disney Studios
Avatar 3D - Twentieth Century Fox
Hubble 3D (working title) - IMAX / Warner Bros. Pictures
How to Train Your Dragon 3D - DreamWorks Animation
Shrek Goes Fourth 3D - DreamWorks Animation