Ground-Breaking Laser Projection System to Enable LG® IMAX® Theatre to Access Full Spectrum of IMAX Content
NEW YORK — Mar. 18, 2013 — IMAX Corporation (NYSE:IMAX; TSX:IMX) and World’s Biggest Screens PTY Ltd., today announced an agreement to install IMAX’s next-generation laser digital projection technology at the LG® IMAX theatre, located at Darling Harbour in Sydney, Australia. The agreement, which remains subject to certain conditions, will allow the theatre to deliver a wider array of the highest-quality digital content available using IMAX’s new laser projection system and further enhance The IMAX Experience® for its patrons.
IMAX’s next-generation projection system is expected to set a new benchmark as the industry’s premium entertainment experience. The system, which incorporates the laser digital intellectual property IMAX exclusively licensed from Eastman Kodak and Barco’s unique laser innovations, represents the largest R&D initiative in IMAX’s history and will enable IMAX® dome theatres and IMAX screens larger than 80 feet to deliver the highest-quality digital content available with greater brightness and clarity, a wider color gamut and deeper blacks.
“IMAX shares our passion for delivering premium entertainment experiences and we’re delighted to announce our transition to IMAX’s laser projection solution,” said Mark Bretherton, CEO, World’s Biggest Screens PTY Ltd. “This new technology will deliver a level of brightness and clarity far superior to anything currently available and will also allow us to offer our audiences more of the IMAX content they want — both documentaries and blockbuster films.”
“World’s Biggest Screens is a valued partner and we’re pleased to build on our successful relationship and bring our next-generation laser-projection technology to the renowned LG® IMAX theatre,” said Larry O’Reilly, President, Worldwide Sales, IMAX. “We believe our ground-breaking laser offering will not only push the boundaries of what is possible in immersive cinematic experiences, but it will also drive greater business results for our large-screen exhibitors by providing more programming flexibility and access to more IMAX movies.”
About IMAX Darling Harbour
The IMAX Theatre Sydney in Darling Harbour is the world’s biggest IMAX® screen (and also the world’s biggest cinema screen) measuring 29.42m high by 35.73m wide covering an area of 1,051 square metres. The IMAX® Darling Harbour screen is SIX times larger than the next biggest screen in Sydney – no other screen comes close in size. Up to eight storeys high, the screen is ten times larger than a traditional cinema screen and fills the whole field of human vision. The IMAX Theatre Sydney in Darling Harbour uses the IMAX® film system, which is the largest and most exciting film format in the world.
With crystal clear images, ten times larger than the traditional cinema format the IMAX film experience draws you in with pictures so real you want to touch them, so powerful you can feel them.
The IMAX® film experience takes an image rich in clarity and definition, throws it onto the world’s biggest screen and wraps the viewer in digital surround sound. The theatre screens films in 2D and 3D for a truly breathtaking movie going experience.
IMAX Darling Harbour is located at 31 Wheat Rd, Sydney 2000. For viewing times and online seat reservations visit www.imax.com.au.
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, 2012, there were 731 IMAX theatres (598 commercial multiplexes, 19 commercial destinations and 114 institutions) in 53 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX Is Believing® 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, general economic, market or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by the Company; the performance of IMAX DMR films; competitive actions by other companies; conditions in the in-home and out-of-home entertainment industries; the signing of theater system agreements; changes in laws or regulations; conditions, changes and developments in the commercial exhibition industry; the failure to convert theater system backlog into revenue; 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 failure to respond to change and advancements in digital technology; risks related to the acquisition of AMC Entertainment Holdings, Inc. by Dalian Wanda Group Co., Ltd.; risks related to new business initiatives; the potential impact of increased competition in the markets within which the Company operates; risks related to the Company’s inability to protect the Company’s intellectual property; risks related to Eastman Kodak bankruptcy and the possibility of constrained film supply; risks related to the Company’s implementation of a new enterprise resource planning system; risks related to the Company’s prior restatements and the related litigation; and other factors, many of which are beyond the control of the Company. These factors and other 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.