NEW YORK, N.Y. – Imax (TSX:IMX) has a deal to install four digital theatre systems in new complexes operated by SPI Cinemas in India, the world’s biggest film market in terms of attendance.
The deal brings the total number of commercial Imax theatres open or contracted to open in that country to 13, Imax said in a release.
“We are pleased to expand our relationship with SPI in India,” Imax CEO Richard Gelfond said in a release.
“Not only is SPI Cinemas’ commitment to offering cutting-edge entertainment experiences perfectly aligned with the Imax brand, but this agreement (also) puts us in position to consider the local release of Bollywood films, which will be key to the success and growth of Imax in this strategically important region of world.”
Imax’s digital projection system, by eliminating the need for film prints, increases program flexibility and ultimately increases the number of movies shown on Imax screens. It can can run both Imax and Imax 3D presentations.
Imax, with headquarters in New York, Toronto and Los Angeles, says that as of last September, there were 583 Imax theatres — 441 commercial multiplex, 23 commercial destination and 119 institutional — operating in 48 countries.
