IMAX LAUNCHES PRIVATE THEATRE BUSINESS WITH MORE THAN 80 INITIAL SIGNINGS

MM01969LOGOShanghai, China: IMAX Corporation announced that in the six months following the launch of the IMAX Private Theatre “Palais™” (Palais), it has signed agreements for more than 80 committed systems. The agreements follow the June 15 launch of the first TCL-IMAX Palais showroom. Additional showrooms are scheduled to open in the coming months on the Chinese resort island of Hainan, Beijing, London, Los Angeles, New York and Dubai.

The majority of the total systems signed to date comprise agreements with high-end luxury property developers in China. The first installations are taking place now, with the current backlog scheduled to install over the next three years. In addition to these larger-volume deals, the TCL IMAX joint venture has also signed multiple additional Palais agreements, including iconic global installations in London and New York.

“We are very encouraged by the strong initial Palais signings to date and the interest that continues to build for IMAX in a home environment among key developers, dealers and high-net-worth individuals,” said IMAX CEO Richard L. Gelfond. “We’ve invested in this new line of business over the past few years and will continue to do so, based on the significant interest shown to date. We are encouraged by our results so far and – together with our partner TCL – look forward to the launch of our upcoming showrooms and the broad roll-out of this impressive product.”

“We are pleased to have exceeded our initial signings targets for this important new venture,” added IMAX Chief Business Development Officer Robert D. Lister, who is also Chairman of the TCL-IMAX joint venture. “We are focused now on continuing to leverage the strong interest we are seeing in China, in particular, and on expanding our target markets, with an aggressive roll-out in the Middle East planned at the start of 2016.”

The IMAX Private Theatre “Palais” delivers IMAX’s best-in-class projection and sound technology as part of the very first completely integrated home theatre system from a single holistic IMAX design and source. Features include sound isolation, acoustics, wall treatments, flooring, lighting, seating, and specialized, high-quality and unique audio-visual content provided by IMAX.

AmusementParksNews Bureau: news@amusementparksnews.com

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