NEW YORK, June 20, 2018 /PRNewswire/ -- IMAX theatregoers will be able to experience IMAX movies at no additional upcharge as part of AMC Theatres' launch today of the AMC Stubs A-List rewards program. IMAX Corporation (NYSE: IMAX) believes this program will greatly expand the IMAX audience.
"We expect to see a surge in demand for IMAX tickets from this exciting new program, which should drive incremental revenue to IMAX® theatres by offering consumers – for the first time – the freedom to experience blockbusters such as Jurassic World in IMAX over standard offerings for no additional upcharge," said IMAX CEO Richard L. Gelfond.
Under the terms of the agreement between IMAX and AMC, AMC will ensure there is no reduction in IMAX's overall economics. Further, the addition of IMAX to AMC Stubs A-List program will not impact IMAX's studio arrangements and the incremental attendance should result in increased revenues.
Gelfond added, "This initiative comes at an exciting time in our partnership with AMC following the launch our next-generation IMAX with Laser. We believe the combination of this innovative new program, together with the introduction of laser and other network-wide theatre enhancements, provide the perfect opportunity to attract new customers to The IMAX Experience®. Different versions of this type of program have worked well in Europe for more than a decade to drive incremental attendance and we feel strongly that given the choice, audiences will want to see their favorite films in IMAX."
More information about AMC Stubs A-List can be found at amcstubs.com/alist.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2018, there were 1,382 IMAX theatre systems (1,286 commercial multiplexes, 12 commercial destinations, 84 institutional) operating in 77 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
For additional information please contact:
IMAX Corporation – New York
IMAX Corporation – New York
Michael K. Mougias
Sloane & Company– New York
Principal Communications Group – Los Angeles
Melissa Zukerman/Paul Pflug
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SOURCE IMAX Corporation