Malaysia Surges to Become Number-One
International Growth Market for IMAX in 2023, with 13 Signings for
IMAX Systems Year-to-Date
KUALA
LUMPUR, Malaysia and NEW
YORK, Oct. 17, 2023 /PRNewswire/ -- Golden
Screen Cinemas (GSC) and IMAX Corporation (NYSE: IMAX) today
announced an expansion of their partnership with an agreement for
six state-of-the-art IMAX® with Laser systems in Malaysia. The agreement will see five new
locations, including one in the heart of Kuala Lumpur and one upgrade to the Southkey
Megamall, Johor Bahru.
Under the new agreement, IMAX has now completed deals in 2023
for 13 new and upgraded systems across Malaysia — more than any international market
worldwide. IMAX and GSC, the leading cinema exhibitor in
Malaysia, have enjoyed a
successful partnership since 2019. This deal will bring the total
number of IMAX locations with GSC to nine, all of which will now
feature best-in-class IMAX with Laser systems by 2027.
"Malaysia has been an
incredible success story for IMAX this year, underscoring our
growth potential across international markets and the diversity of
ways cinema is thriving worldwide," said Rich Gelfond, CEO of IMAX. "GSC is an excellent,
world-class exhibition partner for IMAX, and we look forward to
expanding our partnership and working together to serve Malaysian
audiences and drive further growth in the market."
"As the first local cinema exhibitor to offer IMAX with Laser
theatres to cater to the needs of action movie enthusiasts, our
continued partnership with IMAX underscores our continuous
commitment in bringing immersive cinematic experiences to
moviegoers. With a total of nine GSC locations equipped with IMAX
with Laser, this creates greater opportunities for us to showcase
locally produced content in premium movie formats," said Ms.
Koh Mei Lee, Chief Executive
Officer, Golden Screen Cinemas.
Malaysia is a fast-growing
market for IMAX, consistently ranking among the top 25 global
markets for IMAX box office despite having only 11 IMAX locations
currently in operation. The growth has spurred IMAX to move further
into local films in Malaysia, with
the company debuting its first Malaysia release, "Malbatt: Misi Bakara" in August
2023. Recently, Christopher
Nolan's "Oppenheimer" became the number two all-time release
in Malaysia, with James Cameron's "Avatar: The Way of Water"
holding the number one all-time box office position in the
market.
The six new and upgraded locations for GSC will be equipped with
IMAX with Laser, IMAX's most advanced theatre experience. IMAX with
Laser is immersive by design, developed from the ground-up to
deliver crystal clear, lifelike images and precision audio for a
moviegoing experience unlike anything else. The ground-breaking
4K laser projection system features a
new optical engine, custom designed lenses, and a suite of
proprietary technology that delivers brighter images with increased
resolution, deeper contrast, and the widest range of colors
exclusively to IMAX screens.
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 systems to connect with audiences in extraordinary ways,
making IMAX's network 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 additional
offices in London, Dublin, Tokyo, and Shanghai. As of June
30, 2023, there were 1,718 IMAX systems (1,638 commercial
multiplexes, 12 commercial destinations, 68 institutional)
operating in 87 countries and territories. Shares of IMAX China
Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong
Kong Stock Exchange under the stock code "1970."
IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In
IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D
Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX
Enhanced™, IMAX nexus®, and Films to the Fullest®, are trademarks
and trade names of the Company or its subsidiaries that are
registered or otherwise protected under laws of various
jurisdictions. For more information, visit www.imax.com. You may
also connect with IMAX on Instagram (www.instagram.com/imax),
Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax),
YouTube (www.youtube.com/imaxmovies), and LinkedIn
(www.linkedin.com/imax).
About GSC
Golden Screen Cinemas Sdn. Bhd. (GSC) is a wholly-owned
subsidiary of the PPB Group (a member of the Kuok Group), operating
a total of over 600 screens in over 70 locations across
Malaysia and Vietnam, with 530 screens in 55 locations in
Malaysia, and 112 screens in 19
locations in Vietnam through a
partnership with Galaxy Studio. As the leading cinema exhibitor in
Malaysia, GSC delivers innovative,
integrated, and enriching lifestyle experiences through
state-of-the-art cinematic technologies, merchandising, F&B,
events, and more. Tailored for audiences that enjoy arthouse films,
GSC International Screens was launched in 1999, celebrating
cultural diversity through film on the big screens. With movies
from all over the world, GSC International Screens showcases best
of non-mainstream and foreign language movies. GSC also owns Aurum
Theatre, a boutique luxury cinema unlike any other in Malaysia, featuring opulent seats, bespoke
service, and continental dining. For more information, log on to
www.gsc.com.my or check out GSC's social media @gscinemas for the
latest updates.
For additional information please contact:
Investors:
Jennifer
Horsley
jhorsley@imax.com
212.821.0154
Media:
Mark Jafar
mjafar@imax.com
212.821.0102
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SOURCE IMAX Corporation