The announcement marks the first time IMAX has entered into a joint revenue sharing arrangement with a regional exhibitor.
The partners will install and operate systems in Panama City Beach, Florida; Slidell, Louisiana; Winston-Salem, North Carolina; and Macon, Georgia. The theatres are expected to open in July.
“There is significant positive buzz surrounding the IMAX brand among consumers as well as exhibitors, and for good reason,” George Solomon, CEO of Southern Theatres, said. “More movies are being released in IMAX’s format than ever before, and IMAX theatres deliver a differentiated experience that resonates with audiences, regardless of whether the presentation is 2D or 3D. This partnership represents a whole new way for Southern Theatres patrons to experience movies.”
“We’re seeing very strong performances from our locations in small to mid-sized domestic markets, proving that with the right partners, there is opportunity for expansion and success in this relatively new market segment for our Company,” IMAX CEO Richard L Gelfond said.
“Through partnerships with exhibitors such as Southern Theatres, who understand the value of delivering top-quality presentations, we will be able to offer The IMAX Experience to more people in places that previously lacked easy access to an IMAX theatre.”