IMAX signs first joint revenue sharing agreement in Malaysia

14 October 2011 22 h 10 min 5 comments

TGV Cinemas to open IMAX theatre in its top-performing multiplex by December 2011
 
NEW YORK, Oct 13, 2011 – IMAX Corporation today announced a joint revenue sharing agreement with TGV Cinemas Sdn Bhd (TGV Cinemas) to install a new digital IMAX(R) theatre system at the Sunway Pyramid Shopping Centre, TGV’s highest-grossing multiplex.

The theatre is expected to open by Dec. 15, 2011, in time for the release of “Mission: Impossible — Ghost Protocol” The IMAX Experience, which opens globally Dec. 21, 2011.

This agreement brings to 294 the total number of IMAX theatres contracted to open in the Asia region, 95 of which are currently in operation.

“TGV Cinemas revolutionised the movie-going experience by being the first to introduce the multiplex concept offering Malaysians a wide array of movies within one location,” said Kenny Wong, CEO of TGV Cinemas. “We are delighted to be the first to introduce the digital IMAX theatre system in Malaysia. This introduction is in line with our commitment and ongoing initiatives to provide the ultimate cinematic experience for our patrons.”

“TGV Sunway Pyramid is the top-performing site within TGV’s network of 15 multiplexes in Malaysia, and the installation of an IMAX theatre at this flagship complex is an endorsement of the bottom line benefits that IMAX delivers,” said IMAX CEO Richard L. Gelfond. “With an unsurpassed cinematic platform, a globally recognized brand and a powerful film slate, IMAX provides a competitive advantage for exhibitors worldwide.”

“Today’s announcement underscores that the demand for The IMAX Experience(R) continues to grow across Asia,” said Don Savant, Senior Vice President and Managing Director, Asia Pacific. “TGV Cinemas is committed to developing IMAX as a premium brand in Malaysia and we are very proud of our relationship with this strategic partner.”

IMAX’s digital projection system delivers The IMAX Experience(R) and will continue to deliver high-quality picture and sound even after multiple screenings. Furthermore, when combined with Hollywood and Chinese blockbusters, digitally remastered and on occasion filmed using IMAX cameras, it eliminates the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. This has allowed IMAX to increase its digital titles to 16 to 20 per year from six to eight previously. The system can run both IMAX and IMAX(R) 3D presentations, providing an immersive experience and bringing cinema goers a visual and audio experience unlike any other digital systems, regardless of which seat the customer is in.

About TGV Cinemas
TGV Cinemas Sdn Bhd (TGV Cinemas) is a wholly-owned subsidiary of Tanjong Public Limited Company ( www.tanjongplc.com ). Tanjong is a UK incorporated holding company of a group of geographically diversified subsidiaries involved in power generation, leisure and property investment. Since its inception in 1995, TGV Cinemas pioneered the multiplex cinema concept and has grown to become one of Malaysia’s premier film exhibition companies with 117 screens homed in 15 multiplexes located at major cities. Today TGV continues to bring new frontiers to its cinema-goers by being the first to introduce the ‘Beanieplex’ movie hall which is Malaysia’s first and only cinema hall featuring bean bag seats.

About IMAX Corporation
IMAX Corporation is one of the world’s leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry’s top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company’s new digital projection and sound systems – combined with a growing blockbuster film slate – are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Beijing and Shanghai. As of June 30, 2011, there were 560 IMAX theatres (417 commercial multiplex, 25 commercial destination and 118 institutional) operating in 46 countries.

SOURCE: IMAX Corporation

Related posts:

Leave a Reply

You must be logged in to post a comment.

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (chinadaily.com.cn, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (chinadaily.com.cn, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal 36kr.com said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (chinadaily.com.cn, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →