IMAX Corporation and Cinemas Guzzo have announced a joint revenue sharing agreement to install four digital IMAX® theatre systems throughout the greater Montreal area in Quebec. This agreement brings the total number of IMAX® theatres open or contracted to open in Canada to 30.
Under the terms of the agreement, all four theatres are scheduled to open in 2012 in existing Cinemas Guzzo Mega-Plexes that include: Mega-Plex Taschereau 18 in Brossard; Mega-Plex Pont-Viau 16 in Laval; Mega Plex Terrebonne 14 in Terrebonne and Mega Plex Marche Central 18 in Montreal.
“We believe our patrons deserve the best cinematic experience available. With more and more guests demanding the powerful and immersive movie-going experience that only IMAX can offer, we are very proud to give our patrons what they crave,” said Vincenzo Guzzo, Executive Vice President, Cinemas Guzzo. “We expect the addition of four IMAX theatres to our circuit to be a key driver in our overall growth strategy that will set us apart from competitors and drive box office success.”
“Today’s agreement with Cinemas Guzzo highlights the focus of our domestic growth strategy with regional exhibitors,” said IMAX CEO Richard L. Gelfond. “Over the past two years, we have more than doubled our commercial theatre presence in Canada, and we are pleased to continue that momentum with Guzzo, the largest regional exhibitor in Quebec.”
IMAX’s digital projection system delivers The IMAX Experience® and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX® 3D presentations.