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IMAX Spreads Across India, Signs Agreement With PVR Cinemas

Zacks Equity Research
Updated
The Macerich Company (MAC) opens Scottsdale Fashion Square's refurbished luxury wing. The face-lift enables the mall to add an impressive tenant lineup to its roster.

IMAX Corporation IMAX has signed a contract with PVR Cinemas, a film entertainment company in India for five new IMAX Theatres. The theatres will be located at both new and existing PVR multiplexes across major metropolitan cities.

PVR is IMAX’s largest partner in India, consisting of seven IMAX theatres in the country. With the latest addition of theatres, IMAX now totals 31 in India of which, 14 are in operation and 17 yet to open.

IMAX has doubled its India network in the last couple of years. The company views this place as a long-term growth opportunity and is the fourth-largest box office market.

The company has been making continued efforts to expand its presence across the globe. Last December, the company inked a multi-picture deal with Twentieth Century Fox Film, a division of Twenty-First Century Fox, Inc. FOX. By dint of this agreement, partnership is extended between the companies through 2019. It covers flicks like Kingsman: The Golden Circle, released in September 2017, The Darkest Minds as well as Marvel movies namely The New Mutants, X-Men: Dark Phoenix and Gambit. All films will be digitally re-mastered into the immersive IMAX format and released at IMAX halls.

In June 2017, the company entered into an agreement with AMC Entertainment Holdings, Inc. AMC owned AMC Theatres for the launch of an IMAX VR Centre at AMC Kips Bay 15 in New York City.
 
IMAX also collaborated with The Walt Disney Company DIS, a few years back, pertaining to the release of Star Wars: The Force Awakens from the popular Star Wars franchise on all its screens across North America for four weeks from the date of its release.

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Walt Disney Company (The) (DIS) : Free Stock Analysis Report
 
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Imax Corporation (IMAX) : Free Stock Analysis Report
 
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