IMAX Corp. will open two new digital theaters in Russia this year and have 12 theaters operating in the country by 2012.
That gives the company signed deals for 84 IMAX systems year-to-date, up from 35 system signings in all of 2009.
IMAX announced today an agreement with one of Russia’s leading exhibition chains, Formula Kino, to install two digital IMAX theatre systems in Russia before the end of 2010, one in the new Galleria Mall in St. Petersburg and one in the Mall of Russia, in the heart of Moscow.
The first system is scheduled to be installed in time for the IMAX release of Harry Potter and the Deathly Hallows in November of this year, with the second system to follow shortly thereafter.
“The box office results that Russian IMAX theatres are posting clearly demonstrate the growing popularity of the IMAX brand in the region,” said Andrei Tereshok, General Director, Formula Kino. “IMAX technology delivers a differentiated first-class movie experience that resonates well with Russian consumers and we are thrilled to be adding IMAX theatres to our flagship complexes in Russia’s premier retail destinations.”
“By forging new partnerships with large, high-profile exhibitors like Formula Kino, we can continue to expand our audience base, grow our brand, and increase the visibility of our business for exhibitors in surrounding markets in Russia and the CIS”, said IMAX CEO Richard L. Gelfond.
Formula Kino’s first cinema “Strela” (The Arrow) opened in 1998 and is still one of the key cinemas in Moscow. Today the cinema chain has 11 modern cinemas in Moscow with 61 screens, 11959 seats and six million customers annually.
— By Scott Hettrick