IMAX Corporation and Cinema Park, the exhibition chain owned by
Russia's largest media holding company, Profmedia, announced an
agreement to install up to 14 IMAX theatre systems throughout
Russia. The agreement marks the single largest European theatre
deal in IMAX's 45-year history.
The first three Cinema Park IMAX locations will open prior to the
end of 2010, followed by another seven by the end of 2012. The
exhibitor has the option to add another four IMAX systems beyond
the ten that are committed. Most of the locations will be in
regional markets throughout Russia, expanding the IMAX network
beyond the areas of greater Moscow and St. Petersburg. The
announcement brings the total number of IMAX theatres scheduled to
be operating in Russia and the CIS by 2012 to 27, making that
region IMAX's third-largest market behind the United States and
China.
"The incredible success of the current IMAX theatres in Russia and
the attractive economics of IMAX's proven business model gave us
more than enough incentive to start rolling out our own IMAX
locations across our wide and expanding circuit," observed Sergei
Kitin, general director of Cinema Park.
"Signing this large deal in Russia demonstrates how IMAX box-office
success translates into growth in our worldwide theatre network,"
said IMAX CEO Richard L. Gelfond.
Home > News and Features > News > Cinema
IMAX signs major deal with Russia's Cinema Park
July 27, 2010
IMAX signs major deal with Russia's Cinema Park
July 27, 2010
IMAX Corporation and Cinema Park, the exhibition chain owned by Russia's largest media holding company, Profmedia, announced an agreement to install up to 14 IMAX theatre systems throughout Russia. The agreement marks the single largest European theatre deal in IMAX's 45-year history.
The first three Cinema Park IMAX locations will open prior to the end of 2010, followed by another seven by the end of 2012. The exhibitor has the option to add another four IMAX systems beyond the ten that are committed. Most of the locations will be in regional markets throughout Russia, expanding the IMAX network beyond the areas of greater Moscow and St. Petersburg. The announcement brings the total number of IMAX theatres scheduled to be operating in Russia and the CIS by 2012 to 27, making that region IMAX's third-largest market behind the United States and China.
"The incredible success of the current IMAX theatres in Russia and the attractive economics of IMAX's proven business model gave us more than enough incentive to start rolling out our own IMAX locations across our wide and expanding circuit," observed Sergei Kitin, general director of Cinema Park.
"Signing this large deal in Russia demonstrates how IMAX box-office success translates into growth in our worldwide theatre network," said IMAX CEO Richard L. Gelfond.
The first three Cinema Park IMAX locations will open prior to the end of 2010, followed by another seven by the end of 2012. The exhibitor has the option to add another four IMAX systems beyond the ten that are committed. Most of the locations will be in regional markets throughout Russia, expanding the IMAX network beyond the areas of greater Moscow and St. Petersburg. The announcement brings the total number of IMAX theatres scheduled to be operating in Russia and the CIS by 2012 to 27, making that region IMAX's third-largest market behind the United States and China.
"The incredible success of the current IMAX theatres in Russia and the attractive economics of IMAX's proven business model gave us more than enough incentive to start rolling out our own IMAX locations across our wide and expanding circuit," observed Sergei Kitin, general director of Cinema Park.
"Signing this large deal in Russia demonstrates how IMAX box-office success translates into growth in our worldwide theatre network," said IMAX CEO Richard L. Gelfond.
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