IMAX Corporation has announced an expansion of its revenue sharing agreement with Cinemas Guzzo of an additional IMAX theatre. It will be located at the Mega-Plex Marche Central 18 in Montreal, QC. It is to open in July.
The deal marks the Company's initial test of two IMAX screens within a single multiplex. It also brings Cinemas Guzzo's total IMAX commitment to five screens under joint revenue sharing arrangements, as well as its total of open or soon to open theatres in Canada to 32.
"We've been considering this 'second-screen' concept for quite some time and we'relaunching the initial test with leading regional exhibitor Cinemas Guzzo, which has been a great partner for us," says IMAX, CEO Richard L. Gelfond. "With our continued network growth and increasing film slate, we believe this initiative will enable IMAX and our partners to fully capitalize on the strong demand during blockbuster opening weekends, when we are seeing more and more sellouts. It will also provide us with greater flexibility to schedulemultiple titles that overlap during the busy summer and holiday season."
The deal follows an earlier four-theatre agreement with Cinemas Guzzo announced in January. To date, three theatres have been opened including the Mega-Plex Marche Central 18 in Montreal, QC, the Mega-Plex Terrebonne 14 in Terrebonne, QC, and the Mega-Plex Taschereau 18 in Brossard, QC. The fourth will be located at the Mega-Plex Pont-Viau 16 in Laval, QC, in July.
IMAX presents cinematic productions with a premium viewing experience by using IMAX, IMAX 3D, and IMAX DMR (Digital Re-mastering) technologies.