The companies announced on Monday (16) they were expanding their revenue sharing partnership and have agreed on eight new installation deals.
The new arrangement covers conversion of two existing AMC IMAX theatres from a sale to a joint revenue structure. The development will bring AMC’s IMAX commitment up to 138 and possibly 148.
The eight confirmed locations are expected to be in both existing and new IMAX markets, including Charlotte, North Carolina; Monmouth, New Jersey; Dearborn, Michigan; Niles and Crestwood, Illinois; and San Francisco, Redondo Beach and Anaheim, California. At least three are expected to open by the end of 2012.
“We’re in the business of making smiles happen and what we’ve found is our guests love seeing movies in an IMAX theatre,” AMC CEO and president Gerry Lopez said. “To build on our 12-year partnership with IMAX certainly helps us further our strategic initiative of premium sight and sound experiences but more importantly, it allows us to provide an amazing experience for guests at even more locations.”
“The IMAX footprint still has runway for growth in the US and we are pleased to expand into these new markets with our biggest and long-time partner, AMC,” IMAX Corporation CEO Rich Gelfond said.