IMAX CORPORATION REPORTS SECOND-QUARTER 2016 FINANCIAL RESULTS

July 22, 2016 – 11:52 am | Permalink

HIGHLIGHTS
– Robust Q2 2016 signings of 95 IMAX® theatre systems, up 217% year-over-year
– IMAX increases 2016 installation guidance to 155 theatres, up from original 2016 guidance of 115 to 120 theatres, underscoring strong worldwide demand for IMAX theatres
– Record backlog of 442 systems represents 40% growth to existing network of 1,102 theatres

NEW YORK, July 20, 2016 /PRNewswire/ — IMAX Corporation (NYSE: IMAX) today reported second-quarter 2016 revenues of $91.7 million and GAAP net income after non-controlling interest of $7.8 million, or $0.11 per share. Adjusted net income after non-controlling interest was $12.1 million, or $0.18 per diluted share. EBITDA as calculated in accordance with the Company’s credit facility was $29.0 million. For reconciliations of adjusted net income to reported net income, adjusted earnings per share to reported earnings per share, and for the definition and reconciliation of EBITDA as calculated in accordance with the Company’s credit facility, please see the tables at the end of this press release.’

“Demand for IMAX theatres has never been stronger and bodes well for our business as more signings lead to more installs, which then lead to more box office, and, ultimately, to greater revenue. Including the 95 theatres signed in the second quarter, we have signed nearly as many deals in the first half of 2016 as we did in all of 2015. This robust signings momentum has resulted in a record backlog, which includes a 40-theatre full revenue-share agreement with Guangzhou JinYi Media Corporation, a 25-theatre deal with AMC Theatres and additional multi-theatre agreements with several other key exhibition partners, and improves visibility into installations and ultimately revenue over the next several years. As a result, we are once again raising our installation guidance –this time to 155 theatres, up from our prior guidance range of 135 to 140 theatres and compared to our original 2016 install guidance range of 115 to 120 that was set late last year,” said IMAX CEO Richard L. Gelfond.

Network Update:

During the quarter, the Company installed 40 theatres, of which 38 were for new theatre locations and two were upgrades. The Company also signed contracts for 95 theatres in the second quarter of 2016. The total IMAX theatre network consisted of 1,102 systems as of June 30, 2016, of which 990 were in commercial multiplexes. There were 442 theatres in backlog as of June 30, 2016, up 14% from the 388 in backlog as of March 31, 2016. For a breakdown of theatre system signings, installations, network and backlog by type, please see the end of this press release.

Box Office Update:

Gross box office from IMAX DMR® titles was $260.8 million in the second quarter of 2016, compared with $343.0 million in the prior-year period, which was the highest-grossing box office quarter in Company history and included Furious 7,Jurassic World, and Avengers: Age of Ultron last year. The average global DMR box office per-screen average in the second quarter of 2016 was $268,200.

“While IMAX faced a challenging comparison to last year’s second-quarter box office – which was the highest-grossing box office quarter in Company history – considering the strong outperformance in box office we saw in the first quarter, we believe our portfolio of titles released across the full year will result in an annual box office that is relatively consistent with our historical PSA. Looking ahead, we expect our heightened network growth in 2016, which is heavily weighted towards our joint revenue-sharing model, will position us well to capitalize on a promising array of upcoming tentpole franchises and sequels this year and next, including Suicide Squad, Marvel’s Dr. Strange, Fantastic Beasts and Where to Find Them, Rogue One: A Star Wars Story, Kong: Skull Island,Guardians of the Galaxy Vol. 2, Spider-Man Homecoming, and, of course, Star Wars: Episode VIII.”

Second-Quarter Segment Results

Revenue from sales and sales-type leases was $18.7 million in the second quarter of 2016, compared with $18.7 million in the second quarter of 2015. The Company installed 13 full theatre systems under sales and sales-type lease arrangements in the most recent quarter, compared with the 15 full sales-type theatres the Company installed in the second quarter of 2015.
Revenue from joint revenue-sharing arrangements was $23.9 million in the quarter, compared with $31.6 million in the prior-year period. During the quarter, the Company installed 25 new theatres under joint revenue-sharing arrangements, compared with 20 in the second quarter of 2015. The Company had 559 theatres operating under joint revenue-sharing arrangements as of June 30, 2016, as compared to 477 joint revenue-sharing theatres one year prior.
Production and DMR revenues were $27.4 million in the second quarter of 2016, compared with $36.6 million in the second quarter of 2015. As mentioned above, gross box office from DMR titles was $260.8 million in the second quarter of 2016, compared with $343.0 million in the prior-year period, which was the highest grossing box office quarter in Company history and included Furious 7, Jurassic World, and Avengers: Age of Ultronlast year. The global DMR per screen average in the second quarter of 2016 was $268,200, compared with $414,600 in same period last year.
Gross margin of 54.8%, compared with 64.4% last year, primarily resulting from lower box office, higher DMR cost and a larger mix of hybrid sales in the quarter.
Operating expenses (which include SG&A and R&D, and excludes stock-based compensation) were $27.7 million in the quarter, compared with$26.3 million in the second quarter of 2015.

​Share Buybacks

The Company repurchased 1,344,094 shares in the second quarter of 2016, which does not include 68,430 shares purchased in connection with the Company’s long-term incentive plan. The Company purchased the shares at an average price of $30.55, for a total value of $41.1 million.

Conference Call

The Company will host a conference call today at 4:30 PM ET to discuss its second-quarter 2016 financial results. To access the call via telephone, interested parties in the US and Canada should dial (800) 505-9568 approximately 5 to 10 minutes before the call begins. Other international callers should dial (416) 204-9271. The conference ID for the call is 1146762. A replay of the call will be available via webcast on the ‘Investor Relations’ section of www.imax.com or via telephone by dialing (888) 203-1112 (US and Canada), or (647) 436-0148 (international). The Conference ID for the telephone replay is 1146762.

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 inLondon, Tokyo, Shanghai and Beijing. As of Jun. 30, 2016, there were 1,102 IMAX theatres (990 commercial multiplexes, 16 commercial destinations and 96 institutions) in 69 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. Important factors that could affect these statements include, but are not limited to, references to future capital expenditures (including the amount and nature thereof), business and technology strategies and measures to implement strategies, competitive strengths, goals, expansion and growth of business, operations and technology, plans and references to the future success of IMAX Corporation together with its consolidated subsidiaries (the “Company”) and expectations regarding the Company’s future operating, financial and technological results. These forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with the expectations and predictions of the Company is subject to a number of risks and uncertainties, including, but not limited to, the signing of theater system agreements; conditions, changes and developments in the commercial exhibition industry; the performance of IMAX DMR films; the potential impact of increased competition in the markets within which the Company operates; competitive actions by other companies; the failure to respond to change and advancements in digital technology; risks associated with investments and operations in foreign jurisdictions and any future international expansion, including those related to economic, political and regulatory policies of local governments and laws and policies of the United States and Canada; risks related to the Company’s growth and operations in China; the Company’s largest customer accounting for a significant portion of the Company’s revenue and backlog; risks related to new business initiatives; conditions in the in-home and out-of-home entertainment industries; the opportunities (or lack thereof) that may be presented to and pursued by the Company; risks related to cyber-security; risks related to the Company’s inability to protect its intellectual property; risks related to the Company’s implementation of a new enterprise resource planning system; general economic, market or business conditions; the failure to convert theater system backlog into revenue; changes in laws or regulations; and other factors, many of which are beyond the control of the Company. These factors, other risks and uncertainties and financial details are discussed in IMAX’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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STER-KINEKOR EXPANDS IMAX FOOTPRINT WITH THREE-THEATRE AGREEMENT IN SOUTH AFRICA

July 12, 2016 – 12:09 pm | Permalink

Africa’s Largest Exhibitor Adds 10 IMAX® Theatres to Circuit in Less Than Three Years; Deal Builds on IMAX Network and Box office Growth in Africa

NEW YORK, July 12, 2016 /PRNewswire/ — IMAX Corporation (NYSE: IMAX) and Ster-Kinekor Theatres, a division of Primedia (Pty) Ltd., today announced an agreement for three new IMAX® theatres in South Africa with locations to be confirmed. The deal brings Ster-Kinekor’s IMAX footprint to 10 theatres with seven currently open in cities throughout South Africa, including three in Johannesburg and one each in Port Elizabeth, Cape Town, Pretoria and Durban.

“Ster-Kinekor entered the IMAX business back in 2013 when there were no IMAX theatres in South Africa and in less than three years, they’ve expanded their commitment to 10 theatres. This is a testament to their world-class marketing and operational efforts and the power of IMAX to thrill audiences and deliver results to our exhibition partners,” said Andrew Cripps, President of International and EVP, IMAX Corporation. “In Africa, our year-over-year box office is up 125% and we’ve signed theatre agreements in Nigeria, Angola and Kenya in the past 12 months alone. As we continue to work closely with exhibition leaders such as Ster-Kinekor, we will capitalize on the many growth opportunities that exist in this underpenetrated market where there is a growing appetite for The IMAX Experience®.”

“Our commitment is to offer consumers an unparalleled entertainment experience and IMAX is an essential part of this growth strategy. The performance of our existing IMAX theatres is tremendous and today’s agreement is a direct result of this success,” said Wanda Matandela, CEO of Ster-Kinekor Theatres. “We are proud to be the largest IMAX exhibitor in Africa and look forward to bringing the world’s most immersive cinematic experience to even more of our guests in South Africa.”

Since the opening of the first IMAX theatre at Gateway in Durban in 2013, the footprint has already increased to seven, with a further three cinemas in the pipeline this year. Ster-Kinekor continues to enjoy support from its loyal customers for this premium cinematic experience. With the cinemas fitted with the latest digital technology and screening the film studios’ biggest blockbusters in this immersive format, the country’s leading cinema chain is able to deliver on its promise to provide ‘great moments at their greatest’.

About Ster-Kinekor Theatres

Ster-Kinekor Theatres is a wholly-owned business within the Primedia Group and is the largest movie exhibitor on the African continent. To most South Africans, the word ‘movies’ is synonymous with the name ‘Ster-Kinekor’. The company operates 57 commercial cinema complexes in South Africa, with six international sites based inNamibia, Zambia and Zimbabwe. The cinema chain’s sites house more than 480 large-scale screens, over 87 264 seats and the largest 3D footprint featuring more than 140 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 the only cinema 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 seven IMAX® Theatres across the country.

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 recently recorded over 1.9-million downloads. The 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 March 31, 2016, there were 1,066 IMAX theatres (952 commercial multiplexes, 17 commercial destinations and 97 institutions) in 68 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 and AMC managements’ 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 and AMC’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q and their other public filings.

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IMAX CORPORATION TO ANNOUNCE SECOND-QUARTER 2016 FINANCIAL RESULTS AND HOST CONFERENCE CALL

July 8, 2016 – 11:28 am | Permalink

NEW YORK, July 7, 2016 /PRNewswire/ — IMAX Corporation (NYSE: IMAX) today announced it will hold a quarterly conference call to discuss its second-quarter 2016 financial results on Wednesday, July 20 at 4:30 p.m. Eastern Time.

This call is being webcast by Thomson Financial and can be accessed at www.imax.com by clicking on ‘Investor Relations.’ To access the call via telephone, interested parties in the US and Canada should dial (800) 505-9568 approximately 5 to 10 minutes before the call begins. Other international callers should dial (416) 204-9271. The conference ID for the call is 1146762. A replay of the call will be available via webcast on the ‘Investor Relations’ section of www.imax.com or via telephone by dialing (888) 203-1112 (US and Canada), or (647) 436-0148 (international). The Conference ID for the telephone replay is 1146762.

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 inLondon, Tokyo, Shanghai and Beijing. As of Mar. 31, 2016, there were 1,066 IMAX theatres (952 commercial multiplexes, 17 commercial destinations and 97 institutions) in 68 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.

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Evans & Sutherland Signs On As GSCA 2016 Conference Partner-Level Sponsor; Will Demo 8K Digital Fulldome Digistar 5 System at Ontario Science Centre

July 7, 2016 – 1:50 pm | Permalink

The Giant Screen Cinema Association (GSCA) is pleased to announce that Evans & Sutherland (E&S) will support the GSCA 2016 International Conference and Trade Show as a partner-level sponsor, the highest level of support. The conference will be held in Toronto on October 4-7, 2016, hosted by the Cineplex Scotiabank IMAX Theatre and Ontario Science Centre.

As part of its sponsorship, E&S will demonstrate an 8K digital fulldome system using its Digistar 5 system with Christie 4K projectors on the dome screen at the Ontario Science Centre Shoppers Drug Mart Omnitheater on October 7. E&S will install their proprietary auto alignment and blending systems to create a seamless ultra-high resolution image across the dome. Included in the demonstration will be giant screen film content digitally mastered for the dome in both 8K and 4K resolution, along with original digital fulldome content also in 8K and 4K resolution. Additionally, E&S will install a 4K DCI projector to demonstrate a sampling of Hollywood trailers and other scenes on an “insert” window in the front of the dome.

“Dome theaters are a significant portion of our theater membership and revenue for distributors and producers. We’re excited to partner with E&S to provide delegates information about the domes theaters’ transition to digital and provide the opportunity to experience this state-of-the-art system” says GSCA Executive Director Tammy Seldon. “E&S is a valued GSCA supporter, and they’re going to incredible lengths to install the temporary digital fulldome system at the Ontario Science Centre for this demo.”

“Our Digistar system in 8K has garnered incredible success worldwide in premium theaters looking for the breathtaking clarity and brightness that 8K provides,” says E&S Vice President and General Manager Kirk Johnson. “To date, we have replaced large format film systems, including 15/70, in four 23-meter-diameter theaters, including the Science Museum of Virginia, where we demonstrated our 8K system in a permanent installation for a special GSCA Digital Dome Demo in 2014, and have installed a total of eight 8K Digistar systems as the latest additions to our more than 300 theaters around the world. In June, we introduced Digistar 6, which offers a host of new features including Domecasting, giving users the power to broadcast live events to every Digistar 6 theater worldwide. We are honored to have this valuable opportunity to sponsor GSCA and present the state-of-the-art in ultra-high resolution digital dome projection at the conference.”

The GSCA International Conference and Trade Show is the largest gathering of educational giant screen and immersive cinema professionals. The 2016 event will be held on October 4-7 at the Cineplex Scotiabank IMAX Theatre in Toronto and will feature new films, films in production, projects in development, professional development sessions, a technical session, trade show, and the GSCA Achievement Awards. On October 6, the Ontario Science Centre will host screenings of new film presentations on the IMAX 15-perf/70mm system in the Shoppers Drug Mart Omnimax dome theater. Conference registration and other event details are available at http://www.giantscreencinema.com.

About GSCA
The Giant Screen Cinema Association’s mission is to facilitate communication, information sharing, and the development of best practices to support the production and exhibition of original, high-quality, educational, and entertaining giant screen cinema experiences. GSCA’s membership includes more than 260 organizations in nearly 30 countries. Member organizations include giant screen filmmakers, distributors, theaters, suppliers, manufacturers, and students from around the world. Visit www.giantscreencinema.com for further information. Connect with GSCA on Facebook (https://www.facebook.com/giantscreencinema) and Twitter (https://twitter.com/gsca). Questions about the GSCA or the conference should be directed to Tammy Seldon at tammy@giantscreencinema.com.

About Evans & Sutherland
Evans & Sutherland is the world’s first computer graphics company and developer of the most advanced computer graphics technologies for almost four decades. Focusing primarily on digital planetariums and digital cinemas worldwide, E&S offers Digistar, the world’s leading digital planetarium system, fulldome programs and production services, giant screen films formatted for fulldome theaters, premium-quality projection domes, high-end surround sound, lighting, and theater automation systems, and theater design services. http://www.es.com

BMZ Review: Asteroid: Mission Extreme

July 6, 2016 – 1:04 pm | Permalink

Asteroid: Mission Extreme
By Ann Coates

From National Geographic Entertainment comes the education-heavy film, Asteroid: Mission Extreme. The film details all things asteroid, and looks to the future of space missions involving the study and potential uses of asteroids. With its main focus on science, the film satisfies the edu-tainment genre, but would likely hold less interest for general public.

Offering a straight-forward yet dry narration from actress, Sigourney Weaver, the film explores the nature of asteroids and the Earth’s connection to them (from the extinction-level asteroid impact during the dinosaur era to modern day encounters with these space objects). The film touches upon the possibility and potential consequences of a large asteroid hitting Earth. Thankfully, it doesn’t linger long enough to panic audiences with phantom threats of Earth-destroying asteroids.

Rather, the film moves into the realm of possibilities — what could conceivably be our future in space exploration by utilizing asteroids as sources for fuel and possibly even water. Naturally, this makes the entire film rely on computer-generated images which are serviceable at best. Nevertheless, these looks into budding human missions on asteroids could certainly provide fuel for the imagination, and perhaps even inspire a new generation’s interest in space.

Aircraft Carrier: Guardians of the Sea Official Trailer

June 29, 2016 – 3:37 pm | Permalink

Check out the trailer for new Giant Screen film, Aircraft Carrier: Guardians of the Sea.

The mission to protect and defend the world’s oceans has become far more complex and challenging in recent years, and naval aviation has become increasingly vital to success. One of the greatest engineering feats in the history of warfare, the modern Nimitz-class carrier is a masterpiece of technology, and the flagship of the fleet. With RIMPAC, the world’s largest and most comprehensive international maritime training exercise providing a stunning visual context for the story, find yourself aboard the USS Ronald Reagan alongside the 5,000 highly skilled sea and air personnel conducting flight operations in the midst of the simulated war exercises taking place there. Rarely has there been a topic so visually suited and compelling for IMAX® and other giant screen theaters.

The film is now playing in IMAX, Giant Screen, and other specialty venues.

Aircraft Carrier: Guardians of the Sea – Official Trailer [HD] from K2 Communications on Vimeo.

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IMAX AND PARAMOUNT PICTURES EXTEND LONG-STANDING PARTNERSHIP WITH FIVE-PICTURE AGREEMENT

June 23, 2016 – 6:06 pm | Permalink

Pact Includes Transformers: The Last Knight

BARCELONA, Spain, June 23, 2016 /PRNewswire/ — IMAX Corporation (NYSE:IMAX) and Paramount Pictures today announced a multi-picture agreement that consists of five future tentpoles from the Paramount Pictures slate, including the fifth film in the global blockbuster franchise—Transformers: The Last Knight—as well as God Particle; Paramount Pictures, DreamWorks Pictures and Reliance Development Co. LLC’s Ghost in the Shell; the Paramount- Metro-Goldwyn-Mayer Pictures title Ben-Hur (in select markets); and the upcoming action-thriller sequel, Jack Reacher: Never Go Back, from Paramount and Skydance.

“IMAX and Paramount Pictures, along with such esteemed filmmakers as Michael Bay, Tom Cruise and the Bad Robot team, together have achieved incredible global box office success over the years,” said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. “With this new multi-picture agreement we are excited to grow that tradition of bringing heart-pounding, awe-inspiring entertainment to IMAX audiences around the world and particularly excited to do so with these long-standing friends and partners.”

“Paramount is pleased to partner with its friends at IMAX to present an exciting and diverse lineup of films,” said Rob Moore, Vice Chairman, Paramount Pictures. “Filled with thrilling action sequences and spectacular effects, these movies in the immersive IMAX format will captivate audiences around the world.”

The IMAX release of each film will be digitally re-mastered into the image and sound quality of The IMAX Experience® with proprietary IMAX DMR® (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX’s customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.

About Paramount Pictures

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NASDAQ: VIA, VIAB), a leading content company with prominent and respected film, television and digital entertainment brands. Paramount controls a collection of some of the most powerful brands in filmed entertainment, including Paramount Pictures, Paramount Animation, Paramount Vantage, Paramount Classics, Insurge Pictures, MTV Films, and Nickelodeon Movies. PPC operations also include Paramount Home Media Distribution, Paramount Pictures International, Paramount Licensing Inc., and Paramount Studio Group.

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 Mar. 31, 2016, there were 1,066 IMAX theatres (952 commercial multiplexes, 17 commercial destinations and 97 institutions) in 68 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.

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BMZ Review: National Parks Adventure

June 22, 2016 – 12:37 pm | Permalink

National Parks Adventure
By Ann Coates

The latest addition to the considerable MacGillivray Freeman Films Large Format oeuvre is National Parks Adventure, a film that contains all the expected characteristics of an MFF film — the outdoors, fun activities, innocuous musical soundtrack, and above all else, simply beautiful images. The film perhaps contains the most dazzling imagery of the natural world that director Greg MacGillivray has ever captured.

Narrated by Robert Redford, a road trip with mountaineer Conrad Anker and friends frames the film and narrative. Through Anker, photographer Max Low, and artist Rachel Pohl, the audience travels to several national parks to experience the innate beauty of the American wilderness. The film captures our three adventurers on various activities, from rock climbing to ice climbing to kayaking and mountain biking. Such recreation is nice enough adding some hint of adventure, but really just feels like a cliché expression of “one with nature.”

More compelling are the films quiet moments when not a single person is around, and the camera allows the landscape to simply sit before us. Here the film in a sense becomes a meditation on beauty without comment. It is an act of looking, and with just that expresses the indescribable beauty of the natural world. And the images within the film are quite spectacular from the reflections of a green valley on clear, translucent water to the diverse, other-worldly colors seen within a steaming geyser.

An addition of 3D is a nice touch, but not absolutely necessary to experience the wonder of this film. Simply by presenting these splendid images of our national parks compels one with a desire to protect and conserve what could ultimately be lost through thoughtless, callous human behavior. On a side note, communicated throughout the film are Native American beliefs of the natural world, beliefs based on respect and appreciation. But not one Native American appears on screen or in any significant role within the film. We only glimpse this perspective distantly, disconnected from the actual activities onscreen. Makes climbing a millennia-old rock or biking down a pristine mountain seem a bit arrogant, but I’ll just sit here and sip my tea.

IMAX AND CINEWORLD GROUP PLC SIGN FIVE-THEATRE AGREEMENT

June 22, 2016 – 11:44 am | Permalink

IMAX’s Largest European Partner to Add New Theatres Across UK and Other European Markets

BARCELONA, Spain, June 22, 2016 /PRNewswire/ — Today at the 2016 CineEurope Conference in Barcelona, Spain, IMAX Corporation (NYSE: IMAX) announced an expansion of its partnership with Cineworld Group PLC (the “Group”) for an additional five IMAX® theatres. Under the terms of the agreement, the theatres will be installed in new multiplexes in the UK and across other European markets. The parties also announced, under a previous agreement, that an IMAX theatre will be added at Cineworld’s new, flagship complex located in Plymouth, England – a new area for IMAX. Today’s five-theatre deal brings the Group’s total IMAX commitment to 40 theatres, reinforcing the exhibitor’s position as the largest IMAX exhibitor in Europe.

“Cineworld Group is a long-time partner with a true commitment to the IMAX brand. Since 2012, the Group has nearly tripled its IMAX footprint and we’re delighted that they continue to expand with us,” said Andrew Cripps, President of International and EVP, IMAX Corporation. “With an IMAX presence that spans eight countries, both in developed markets such as the UK and emerging markets such as Romania under the Group’s Cinema City brand, Cineworld’s IMAX success is a testament to the fact that cinemagoers across diverse economic and geographic boundaries are willing to pay a premium for the best-quality experience.”

“Our strategy is simple – to deliver a great experience for all cinemagoers, every time. IMAX is a key enabler of this strategy, offering the most immersive cinema experience that cannot be replicated at home,” said Mooky Greidinger, CEO of Cineworld Group PLC. “We are proud to deepen our IMAX partnership with today’s agreement. With a tremendous film slate ahead, we look forward bringing The IMAX Experience® to more guests across our circuit.”

About Cineworld Group PLC

The Group is the second largest operator of cinemas in Europe, operating in nine countries. The enlarged Group was formed by the combination of Cineworld and Cinema City in February 2014. Cineworld is the number one operator by market share in the UK & Ireland with 81 cinemas under the Cineworld brand and 21 Picturehouse cinemas. Cinema City operates 99 cinemas in seven countries under the Cinema City and Yes Planet Brands. Cineworld Group PLC is a public company listed on the London Stock Exchange.

More information can be found at www.cineworldplc.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 Mar. 31, 2016, there were 1,066 IMAX theatres (952 commercial multiplexes, 17 commercial destinations and 97 institutions) in 68 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

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IMAX AND AMC THEATRES® SIGN 25-THEATRE DEAL

June 22, 2016 – 11:34 am | Permalink

Agreement with IMAX’s Largest North American Exhibitor
Builds on Recent IMAX Domestic Box Office Success

NEW YORK and LEAWOOD, Kan., June 22, 2016 /PRNewswire/ — IMAX Corporation (NYSE: IMAX) and AMC Theatres (NYSE: AMC) today announced an expansion of the companies’ existing full joint revenue sharing arrangement with the addition of 25 IMAX® at AMC theatres. The theatres are expected to be installed in 2016 through 2019 at both existing and new–build AMC locations, with the majority of the IMAX at AMC theatres opening within the next two years. The cities include New York, Los Angeles and Houston as well as strategic smaller-tier markets that AMC and IMAX believe present further growth opportunities. Today’s agreement brings AMC’s total IMAX commitment to 185 theatres and reinforces its position as the largest IMAX exhibitor in North America.

“We are delighted to further expand our partnership with our long-term partner, AMC. Today’s deal is a further indication of the continued growth opportunities for IMAX in North America – where our box office grew by 87 percent in the first quarter, fueled by blockbuster titles such as Star Wars: The Force Awakens, Deadpool, and Batman v. Superman: Dawn of Justice,” said IMAX CEO Richard L. Gelfond. “More than ever, audiences are seeking premium and differentiated offerings and, together with AMC, we will continue to deliver guests what we believe to be the best out-of-home entertainment experience for today’s biggest event movies.”

“Box office returns continue to demonstrate that our guests enjoy the premium experience our IMAX theatres offer, and we are tremendously excited to be bringing this experience to even more guests and new markets over the next couple of years,” said Adam Aron, AMC CEO and President. “We are committed to growing IMAX at AMC and expect to remain IMAX’s largest U.S. partner for many, many years to come.”

About AMC Theatres

AMC Theatres® delivers distinctive and affordable movie-going experiences in 385 theatres with 5,380 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago)
http://www.amctheatres.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 Mar. 31, 2016, there were 1,066 IMAX theatres (952 commercial multiplexes, 17 commercial destinations and 97 institutions) in 68 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 and AMC managements’ 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 and AMC’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q and their other public filings.

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