Imax reached 15 new Theaters JV in South Korea

Imax agreed to form a joint venture with a South Korean theater exhibitor to operate up to 15 new theaters in the country as the giant-screen movie operator seeks to expand its presence in Asia.

The agreement with CJ CGV Co Ltd was signed following the success of the exhibitor's five existing Imax locations in South Korea, where the current 3D release of the blockbuster movie "Avatar" has generated more than $6.5 million, Imax said.

"It is a big market opportunity out there (in Asia) for the success of Imax," Craig-Hallum Capital analyst Mark Argento told Reuters by phone.

In December, Imax, known for digitally remastering Hollywood blockbusters, said it was in talks with at least five film companies in China. [ID:nTOE5B6073]

Some of the big movies last year created lot of incremental demand for Imax's products and the international market offers natural growth opportunities, the analyst said.

"We expect to see more type of such deals going forward," Argento said.

The deal with CJ CGV will add 10 new joint venture locations in the major cities in South Korea, and has an option to increase that number to 15.

Brigantine Advisors analyst Steven Frankel said Imax may not follow a similar pattern to expand in China.

"I think in China there isn't sufficient infrastructure around in reporting of box office receipts to form joint ventures. So, they have been selling equipments in China," Frankel said.




3D BOOST

Imax, which will report its fourth-quarter earnings on Thursday, said it has been seeing increasing demand in South Korea, and the rollout of its new locations is expected to begin later this year.

"We expect the company could grow in excess of 30 percent in 2010, which is a combination of more theaters, larger installed base of Imax theaters and better performance, more and more revenue growth at box office per theater," analyst Argento said.

Imax said that separately, CJ CGV will upgrade four of its existing Imax film-based locations to the company's digital projection system.

Source:Reuters


Read more...

Imax 'Prince of Persia' May 28th International release

Imax will release a supersized version of "Prince of Persia: The Sands of Time" from Jerry Bruckheimer Films on May 28, simultaneously with Disney's wide theatrical release internationally.

Toronto-based Imax said the film, directed by Mike Newell and starring Jake Gyllenhaal, will be digitally remastered for a limited release on its international network of theaters.

The release marks Imax's first Jerry Bruckheimer film, and follows its successful release of Disney's 3D film "Alice in Wonderland" last weekend.



Here's the trailer for the movie "Prince of Persia"



The film's limited international IMAX release will be digitally re-mastered into the image and sound quality of The IMAX Experience(R) with IMAX DMR(R) technology. The crystal-clear images coupled with IMAX's customized theatre geometry and powerful digital audio create a unique environment that will make audiences feel as if they are in the movie.

"Once again our expanded network of IMAX locations is enabling us to offer moviegoers around the world more compelling content ideally suited to The IMAX Experience," said IMAX CEO Richard L. Gelfond. "The success of our international theatre network is a key component of our growth, and we are delighted to secure this highly anticipated summer title for our international exhibitor partners."

"We're revved up that moviegoers throughout our international territories will have the opportunity to experience this epic adventure in IMAX theatres," added Greg Foster, Chairman and President, IMAX Filmed Entertainment. "Walt Disney Pictures is continuing to add blockbuster releases to our growing slate, and it's a particular treat with 'Prince of Persia' as it kicks off our relationship with hit maker Jerry Bruckheimer."

Read more...

New Tron Legacy Trailer Video

Watch the new trailer of Tron Legacy here. The Tron Legacy trailer is available online today.

The Tron Legacy will release at the 3D theatres and IMAX 3D on December 17, 2010. Recently, Cindy Morgan's Tron Legacy trailer was referenced in theatres before Tim Burton's Alice in Wonderland.







Here's another trailer in HD quality



While the many moviegoers who saw Alice in Wonderland over the weekend got to see the Tron: Legacy trailer, a few hundred lucky fans saw the trailer early, at a special event held at IMAX theaters in five cities around the world.

In even rarer company were the select few who caught the trailer at the special event at L.A.'s The Bridge, where director Joseph Kosinski and Steven Lisberger, the co-writer and director of the original Tron, were on hand to conduct an impromptu Q&A about the 27-years-in-the-making sequel.


Read more...