IMAX and leading Russian exhibitor Rising Star Media, today announced a deal for one additional IMAX location in Moscow, following the success of the exhibitor’s first three IMAX locations in the capital and St. Petersburg.
The new theatre is scheduled to open in January 2011, bringing the total number of IMAX systems scheduled to be in operation in Russia by 2012 to thirteen.
The latest announcement follows a string of impressive box office performances from Rising Star’s IMAX screens in Moscow and St. Petersburg, which operate to the public under the KinoStar name.
“It is clear that there is consistently strong interest and demand for The IMAX Experience among our patrons,” said Paul B. Heth, Chief Executive Officer of Rising Star Media. “The tremendous, market leading box office grosses of our Kinostar venues with IMAX and the impressive line-up of Hollywood films scheduled for release in IMAX’s format makes this the right time to expand our relationship. We look forward to delivering The IMAX Experience to even more of our customers and further capitalizing on the revenue generating potential of the IMAX theatre business”
“We remain focused on expanding our IMAX footprint around the world and particularly in powerful new markets like Russia,” said IMAX CEO Richard L. Gelfond. “We are pleased to continue to grow in this country with such an excellent exhibition partner and we’re optimistic that we can continue to grow our relationships, and capitalize on our strong film slate, with Rising Star Media and others in the Russian market.”
“Rising Star Media is one of the leading exhibitors in Russia, and their decision to add another IMAX location serves as a great endorsement of our business model,” added Larry T. O’Reilly, IMAX’s Executive Vice President, Theatre Development. “It is always encouraging to have an existing partner add more IMAX locations, and we are very excited to work with them to build on the tremendous success they have already had with the IMAX business.”
With this new IMAX theatre contract signing, IMAX has signed deals for 104 IMAX systems year-to-date.