Wednesday, February 21, 2024

IMAX and CINEMA XXI to Expand Partnership with 10 New IMAX

Cinema XXI and IMAX Corporation (NYSE: IMAX) have announced a significant expansion of their longstanding partnership with an agreement for ten new, state-of-the-art IMAX with Laser systems across Indonesia. The new deal will double the size of IMAX and Cinema XXI footprint, taking the overall number of IMAX commercial systems in Indonesia from ten to twenty. Four of the new systems will be located in Summarecon Mall, Bandung, Icon Bali, Denpasar, Aeon Mall Deltamas and Thamrin Nine, Jakarta, with the rollout of the additional six theatres continuing into 2027.

“As the world’s fourth most populous nation and home to a thriving moviegoing audience, Indonesia holds enormous promise for IMAX and we are excited to deepen our commitment to this market with a world-class partner such as Cinema XXI,” said Rich Gelfond, CEO of IMAX. “2022 saw IMAX deliver its first ever Indonesian local language film as well as its highest grossing release of all time in Indonesia with ‘Avatar: The Way of Water’, and we believe we have only scratched the surface of what we can build in this emerging market.”

“As a consumer-first cinema chain, Cinema XXI has consistently invested in world-class entertainment technology, and we are are committed to offering premiere state-of-the art technology and experiences for our loyal audiences, to further strengthen our market position as Indonesia’s largest cinema chain,” said Suryo Suherman, Executive Chairman of Cinema XXI. “Our partnership with IMAX also enables us to further grow Cinema XXI’s presence and meet consumer demands across a country that is emerging to become a global content hub.”

Cinema XXI is the largest exhibitor in Indonesia and currently operates nine IMAX locations with one additional location in backlog prior to the agreement announced today. The two companies have enjoyed a successful partnership since 2012.

The agreement comes as IMAX rides a wave of momentum in Indonesia and around the world. 2022 saw IMAX release its first ever Indonesian film, “Satan’s Slave: Communion”, which deliver a top ten all time IMAX opening weekend in the market. Indonesia is also one of 47 countries worldwide where Avatar: The Way of Water stands as the highest grossing IMAX release ever.

The ten new Cinema XXI locations will be equipped with IMAX with Laser, IMAX’s most advanced experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. It is set apart by a groundbreaking 4K laser projection system that 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 colours exclusively to IMAX systems.

Visit https://www.imax.com

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