Malaysia Surges to Become Number-One International Growth Market for IMAX in 2023, with 13 Signings for IMAX Systems Year-to-Date
Golden Screen Cinemas (GSC) and IMAX Corporation (NYSE: IMAX) today announced an expansion of their partnership with an agreement for six state-of-the-art IMAX with Laser systems in Malaysia. The agreement will see five new locations, including one in the heart of Kuala Lumpur and one upgrade to the Southkey Megamall, Johor Bahru.
Under the new agreement, IMAX has now completed deals in 2023 for 13 new and upgraded systems across Malaysia — more than any international market worldwide. IMAX and GSC, the leading cinema exhibitor in Malaysia, have enjoyed a successful partnership since 2019. This deal will bring the total number of IMAX locations with GSC to nine, all of which will now feature best-in-class IMAX with Laser systems by 2027.
“Malaysia has been an incredible success story for IMAX this year, underscoring our growth potential across international markets and the diversity of ways cinema is thriving worldwide,” said Rich Gelfond, CEO of IMAX. “GSC is an excellent, world-class exhibition partner for IMAX, and we look forward to expanding our partnership and working together to serve Malaysian audiences and drive further growth in the market.”
“As the first local cinema exhibitor to offer IMAX with Laser theatres to cater to the needs of action movie enthusiasts, our continued partnership with IMAX underscores our continuous commitment in bringing immersive cinematic experiences to moviegoers. With a total of nine GSC locations equipped with IMAX with Laser, this creates greater opportunities for us to showcase locally produced content in premium movie formats,” said Ms. Koh Mei Lee, Chief Executive Officer, Golden Screen Cinemas.
Malaysia is a fast-growing market for IMAX, consistently ranking among the top 25 global markets for IMAX box office despite having only 11 IMAX locations currently in operation. The growth has spurred IMAX to move further into local films in Malaysia, with the company debuting its first Malaysia release, “Malbatt: Misi Bakara” in August 2023. Recently, Christopher Nolan’s “Oppenheimer” became the number two all-time release in Malaysia, with James Cameron’s “Avatar: The Way of Water” holding the number one all-time box office position in the market.
The six new and upgraded locations for GSC will be equipped with IMAX with Laser, IMAX’s most advanced theatre experience. IMAX with Laser is immersive by design, developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The ground-breaking 4K laser projection system 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 colors exclusively to IMAX screens.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you’ve never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX’s network among the most important and successful theatrical distribution platforms for major event films around the globe. Streaming technology company SSIMWAVE, an IMAX subsidiary, is a leader in AI-driven video quality solutions for media and entertainment companies.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2023, there were 1,711 IMAX systems (1,631 commercial multiplexes, 12 commercial destinations, 68 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code “1970.”
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