IMAX Corporation has signed an agreement with leading Russian retail and entertainment developer SBS to install an IMAX theatre in the Black Sea city of Krasnodar under the developer’s Seven Stars Cinemas brand name.
The IMAX theatre will be part of the SBS Megamall, which is the city’s largest mall. The deal follows the success of other IMAX theatres in Russia and the new theatre is expected to be installed later this year.
“IMAX theatres deliver the best movie experience in the world, which is an ideal match for the world-class shopping experience our customers get when they visit the SBS Megamall,” SBS president Lev Papoyan said. “The success of other IMAX theatres in Russia demonstrates an undeniably strong consumer appetite for The IMAX Experience in the country.”
“Russia is becoming one of our stronger international markets, and our partnership with a prominent developer like SBS will certainly add to the momentum and expose our brand to audiences in a new part of the country for us,” IMAX CEO Richard L Gelfond said. “The year-over-year IMAX box office results for Russia have been very encouraging, and in particular, 2009 versus 2010. Last year the Russian IMAX network generated a total box office of $4.8m, and in the first three months of 2010, those same IMAX theatres have already generated $9.4m.”