IMAX Signs First Joint Revenue Sharing Agreement In Malaysia

By ANIMATION XPRES... | 14 October, 2011 - 13:43

IMAX Corporation today announced a joint revenue sharing agreement with TGV Cinemas Sdn Bhd (TGV Cinemas) to install a new digital IMAX(R) theatre system at the Sunway Pyramid Shopping Centre, TGV's highest-grossing multiplex. The theatre is expected to open by Dec. 15, 2011, in time for the release of Mission: Impossible -- Ghost Protocol The IMAX Experience, which opens globally Dec. 21, 2011. This agreement brings to 294 the total number of IMAX theatres contracted to open in the Asia region, 95 of which are currently in operation.

"TGV Cinemas revolutionised the movie-going experience by being the first to introduce the multiplex concept offering Malaysians a wide array of movies within one location," said Kenny Wong, CEO of TGV Cinemas. "We are delighted to be the first to introduce the digital IMAX theatre system in Malaysia. This introduction is in line with our commitment and ongoing initiatives to provide the ultimate cinematic experience for our patrons."

"TGV Sunway Pyramid is the top-performing site within TGV's network of 15 multiplexes in Malaysia, and the installation of an IMAX theatre at this flagship complex is an endorsement of the bottom line benefits that IMAX delivers," said IMAX CEO Richard L. Gelfond. "With an unsurpassed cinematic platform, a globally recognized brand and a powerful film slate, IMAX provides a competitive advantage for exhibitors worldwide."

"Today's announcement underscores that the demand for The IMAX Experience(R) continues to grow across Asia," said Don Savant, Senior Vice President and Managing Director, Asia Pacific. "TGV Cinemas is committed to developing IMAX as a premium brand in Malaysia and we are very proud of our relationship with this strategic partner."

IMAX's digital projection system delivers The IMAX Experience(R) and will continue to deliver high-quality picture and sound even after multiple screenings. Furthermore, when combined with Hollywood and Chinese blockbusters, digitally remastered and on occasion filmed using IMAX cameras, it eliminates the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens.