CANNES – May 24, 2017 – IMAX Corporation (NYSE: IMAX) today announced it signed a hybrid joint revenue share agreement with Les Cinémas Gaumont Pathé, the biggest cinema chain operator in France, the Netherlands and Switzerland, for six new IMAX® theatres in France and Holland. Five IMAX theatres featuring IMAX’s next-generation laser technology will be added to the exhibitor’s circuit in France, and one IMAX theatre will be added to its network in Holland. The deal was finalized during a meeting between the parties at the Cannes Film Festival.
The agreement, which follows a 5-theatre deal the companies announced at the end of 2016, brings to 28 Les Cinémas Gaumont Pathé total IMAX commitment, with 17 theatres in France, seven in the Netherlands and four in Switzerland that are currently open or contracted to open.
“We’re extremely encouraged by the strong momentum and accelerated growth that IMAX continues to see in Western Europe – particularly in France, where our commercial network doubled in 2016,” said IMAX Corp. CEO Richard L. Gelfond. “Through establishing flagship IMAX locations that incorporate our laser technology, Les Cinémas Gaumont Pathé has developed a winning strategy that has resulted in higher per-screen averages and has driven incremental revenue to its complexes. We look forward to building on our partnership to expand our network across Europe and offer audiences a one-of-a-kind cinematic experience they can’t get anywhere else.”
“With today’s agreement, we are expanding our partnership with IMAX to bring the world’s most immersive cinematic experience to our top-performing locations,” said Martine Odillard, Chairman of Les Cinémas Gaumont Pathé. “In an unprecedented drive towards innovation, we will be deploying purpose-built IMAX theatres as new extensions at these flagship locations to deliver the most technologically advanced auditoriums in France and Europe.”