Described as a hybrid joint revenue share agreement, the deal – which was finalized at Cannes — allows Imax to launch five theaters boasting next-generation laser technology in France, and one in Holland.
The agreement continues Imax’s European expansion and follows a five-theatre deal which both companies announced during the last quarter of 2016. Imax now has 28 venues with Les Cinémas Gaumont Pathé venues: 17 of which are in France, seven in the Netherlands and four in Switzerland which are currently open or contracted to open.
Richard L. Gelfond, the CEO of Imax Corp, said the company has been encouraged by the “strong momentum and accelerated growth in Western Europe, particularly in France, where (Imax’s) commercial network doubled in 2016.”
“Through establishing flagship Imax locations that incorporate our laser technology, Les Cinémas Gaumont Pathé has developed a winning strategy that has resulted in higher per-screen averages and has driven incremental revenue to its complexes,” Gelfond said.
Martine Odillard, chairman of Les Cinémas Gaumont Pathé said the partnership with Imax was aimed at bringring “the world’s most immersive cinematic experience to our top-performing locations.”
“In an unprecedented drive towards innovation, we will be deploying purpose-built Imax theaters as new extensions at these flagship locations to deliver the most technologically advanced auditoriums in France and Europe,” added Odillard.