ODEON Cinemas Group (ODEON) and IMAX Corporation (NYSE: IMAX) have announced an expansion of their longstanding partnership spanning key European cinema markets. Under the agreement, ODEON will upgrade six IMAX theatres across the UK with IMAX with Laser systems.
Additionally, ODEON and IMAX have set locations for nine previously contracted new theatres across Europe, including four new theatres in Spain, two in Italy, and one in each of Germany, Sweden, and the UK. All new locations will be installed by 2025.
The announcement was made recently at the annual CineEurope convention in Barcelona, Spain.
“We are delighted to be expanding our long-running partnership with IMAX, as we continue to invest across our estate to make movies better for our guests. We have been encouraged by the amount of guests returning, seeking the most immersive experience possible, and we look forward to the rest of the year with confidence, buoyed by a range of great films to show them,” Mark Way, President AMC Europe and Managing Director ODEON Cinemas Group commented.
“Europe has been a key driver of the resurgence in global cinema, with audiences returning in strong numbers for this incredible blockbuster slate and exhibitors like ODEON raising the bar for the theatrical experience,” said Rich Gelfond, CEO of IMAX. “As we grow market share around the world, IMAX continues to grow, diversify, and enhance its global network, and this new agreement with our longstanding partners at ODEON further accelerates our momentum.”
ODEON and IMAX have enjoyed a longstanding partnership spanning nearly fifteen years. ODEON opened its first IMAX theatre in 2008 and the two companies signed an agreement for 25 IMAX theatres in 2017, which still stands as IMAX’s largest European theatre agreement in its history. ODEON is currently IMAX’s largest partner in Europe, with 34 theatres currently in operation, and an additional 11 new locations will be installed by 2025. Four of IMAX’s top five highest grossing locations in Europe are in ODEON cinemas.
IMAX with Laser is IMAX’s most advanced theatre experience, developed from the ground-up to be immersive by design and deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. It is unmatched with 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 screens.