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IMAX Expands in Russia
February 4, 2010
Source: IMAX
Rising Star Media Adds More Digital IMAX
Theatre Systems
IMAX Corporation and Rising Star Media, one of Russia’s
leading international exhibitors, today announced an agreement
to expand their relationship by installing two more digital
IMAX® theatre systems by spring 2010.
The deal follows a highly successful run of IMAX titles at
the exhibitor’s two existing IMAX locations. Under terms
of the deal, Rising Star will add a new digital IMAX location
in Moscow, and upgrade its existing film-based IMAX location
in St. Petersburg with an IMAX digital projection system.
During the current run of Avatar in Russia, IMAX theatres
generated 5% of the film’s total Russian box office on
0.3% of the screens. The two Kinostar IMAX screens, which
are operated by Rising Star Media, have both passed the $1
million box office mark. On other recent 3D releases, including
Sony Animation’s Cloudy with A Chance of Meatballs and
Disney’s A Christmas Carol, Kinostar enjoyed similar
market leading box office success.
“We have a long and successful history with IMAX and
it is great to see our relationship grow to new heights in
Russia,” said Shari E. Redstone, Chairwoman of Rising
Star Media. “The incremental box office returns from
our Kinostar venues with IMAX, combined with the growing number
of Hollywood blockbusters released in IMAX’s unique format
makes the decision to expand our relationship an easy one.”
“Through our experience with a range of 3D technologies
we have learned that IMAX® 3D resonates with Russian moviegoers,
and they are seeking out the premium IMAX experience at our
theatres,” said Paul B. Heth, Chief Executive Office
of Rising Star Media. “Our partnership with IMAX has
become very important to us as we continue to strive to offer
the best movie going experience in our industry.”
“Russia remains a key part of our European expansion
strategy,” said IMAX CEO Richard L. Gelfond. “Our
strong film slate and digital projection system continues
to drive interest from existing partners as well as exhibitors
who are not yet in the IMAX business. This expanded relationship
with Rising Star Media, one of the top exhibitors in the region,
fuels that interest and reinforces our cache with Russian
consumers.”
“We are thrilled that Rising Star Media continues to
position The IMAX Experience® as their premium offering
for major Hollywood blockbusters and are expanding their IMAX
footprint,” added Larry O'Reilly, IMAX's Executive Vice
President of Theatre Development.
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