IMAX and Odeon Cinemas Expand Partnership
TORONTO - IMAX Corporation and ODEON & UCI Cinemas Group, Europe's largest exhibitor, announced an agreement to install an IMAX(R) digital theatre system in the exhibitor's multiplex in Southampton, England. The deal, which brings the total number of IMAX theatres operated by ODEON to six, was signed as a result of the growing success and popularity of the exhibitor's other IMAX locations including digital IMAX venues in Wimbledon, Greenwich, Gateshead and Cardiff. The deal also follows the record-breaking box office success of the IMAX(R) 3D release of Avatar, which has grossed more than $8 million from nine IMAX screens in the United Kingdom and approximately $220 million from 262 IMAX screens worldwide. The five existing ODEON IMAX screens also witnessed a record breaking weekend for the IMAX 3D release of Disney's Alice in Wonderland featuring Johnny Depp, posting strong pre-sales and numerous sold out shows. The new ODEON location will capitalize on IMAX's growing Hollywood film slate and is scheduled to open in time for the IMAX 3D release of DreamWorks Animation's How to Train Your Dragon on April 2, 2010.
"The incremental boost in performance that we receive by adding an IMAX
theatre to our existing complexes helps to drive our bottom line and
our overall box office, but most importantly, it gives ODEON customers
the premium cinema experience they are looking for," said Rupert Gavin,
CEO of ODEON & UCI Cinemas Group. "The exceptional performance of our
IMAX locations clearly demonstrates that the premium IMAX option is
attracting more patrons to our complexes."
"We are very excited to extend the IMAX offering to the south coast in
our Southampton location and believe there are still more opportunities
for ODEON and IMAX in the future," added Roger Harris, Managing
Director, ODEON Cinemas.
"Our expanding partnership with ODEON & UCI Cinemas Group, Europe's
largest exhibitor, continues to strengthen the alignment of our brand
with one of the most recognized cinema brands in the world," said IMAX
CEO Richard L. Gelfond. "We're delighted to expand the ODEON/IMAX
footprint in the UK, as Alice in Wonderland builds on our recent
success with Avatar, and look forward to sharing our strong film slate
with moviegoers in Southampton, starting with the IMAX 3D release of
How to Train Your Dragon."
"I am very happy to see ODEON and UCI Cinemas Group's ongoing success
with the IMAX business. IMAX has been driving revenue and foot traffic
at each Odeon multiplex we are operating in, and the results are
impressive," added Larry O'Reilly, Executive Vice President of Theatre
Development. "The Group's endorsement of our digital projection system
reinforces the power of The IMAX Experience(R) in a multiplex setting."
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.
With over 75 years' experience, ODEON & UCI Cinemas Group is the
largest exhibitor in Europe. The group is the leading exhibitor in the
UK, Spain and Italy, second largest in Ireland and third largest in
Germany, Austria and Portugal. It operates 1,802 screens at 202 sites
IMAX Corporation is one of the world's leading entertainment technology
companies, specializing in immersive motion picture technologies. The
worldwide IMAX network is among the most important and successful
theatrical distribution platforms for major event Hollywood films
around the globe, with IMAX theatres delivering the world's best
cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR
technology. IMAX DMR is the Company's groundbreaking digital
re-mastering technology that allows it to digitally transform virtually
any conventional motion picture into the unparalleled image and sound
quality of The IMAX Experience. The IMAX brand is recognized throughout
the world for extraordinary and immersive entertainment experiences for
consumers. As of December 31, 2009, there were 430 IMAX theatres (309
commercial, 121 institutional) operating in 48 countries.