The following media release was made available today regarding IMAX Corporation and Dendy Cinemas:
IMAX Corporation (NYSE: IMAX) and Dendy Cinemas, part of the Dendy Icon Group, today announced their first-ever collaboration with an agreement for a new, state-of-the-art IMAX® with Laser system in Australia. The new location is scheduled to open in the country’s capital, Canberra – the first IMAX location ever for the city – by November 2024.
‘Australia has an incredibly passionate moviegoing audience, and we see an opportunity to significantly expand our footprint nationwide in the years ahead,’ said Giovanni Dolci, Chief Sales Officer, IMAX. ‘With consumer demand in the country at an all-time high, this new partnership with Dendy Cinemas is a win for fans as we collaborate with new exhibition partners to bolster our momentum in Australia and worldwide.’
‘Canberrans have had a long love affair with Dendy Cinemas as the biggest cinema in the territory. We are excited to bring the first ever IMAX to Canberra and continue to deliver exceptional immersive experiences to our loyal customers. We are delighted to be the first independent cinema circuit to partner with IMAX in Australia and look forward to celebrating this momentous occasion ahead of the blockbuster content slated for this summer holiday season.’ said Sharon Strickland, Chief Executive Officer, Dendy Icon Group.
Read: IMAX wants 40 screens in Australia by 2029
IMAX has identified Australia as a top priority growth market for the Company, and the country ranks 11th in terms of highest grossing markets worldwide for IMAX, despite only having two locations in the country. Australia continues to have strong momentum and is the #1 market by PSA for IMAX in 2024, with a PSA of $2.7 million. The country continues to be a prime market not only for IMAX Hollywood releases, but also local language content from India and Japan. The 2025 global film slate will feature a record 14 Filmed for IMAX releases.
The new IMAX location with Dendy Cinemas will be equipped with IMAX with Laser, IMAX’s most advanced experience. IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The new locations will be set apart by the groundbreaking 4k laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology, all of which delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX systems.
