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IMAX Expands Alliance With PATHE CINEMAS in Continental Europe
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IMAX Corporation (IMAX - Free Report) and PATHE CINEMAS are expanding their partnership with the addition of five state-of-the-art IMAX with Laser systems in Europe, four of which will be in France. This expansion strengthens one of the most successful IMAX circuits in the world.
The partnership extends beyond exhibition to distribution. IMAX and PATHE LIVE, a subsidiary of PATHE dedicated to the production and distribution of event cinema, will release three upcoming PATHE LIVE films across the IMAX network.
The first film under the new agreement is set to be the first-ever Filmed for IMAX classical ballet stage performance. Swan Lake, choreographed by Rudolf Nureyev and performed by the Paris Opera Ballet, will be filmed with IMAX-certified cameras and is targeted for a global release at the end of 2024.
The new PATHE CINEMAS locations will be equipped with IMAX with Laser and the company’s most advanced theatre experience. This technology aims to provide an immersive moviegoing experience with crystal clear, lifelike images and precision audio, featuring a 4K laser projection system with custom-designed lenses and proprietary technology.
The agreement aligns with two key strategic priorities for IMAX, which include expanding its network in the French cinema market and diversifying its content portfolio across new experiences.
The company continues to achieve significant box office results in France, with 2019 being its highest-grossing year. IMAX and PATHE CINEMAS have been partners since 2010, operating 26 locations across various countries in Continental Europe, including France, the Netherlands, Belgium, Switzerland and Morocco.
IMAX and PATHE LIVE had previously collaborated successfully on Indochine's Central Tour, the first concert ever to be released through the Filmed for IMAX camera program.
IMAX’s Expanding Global Partnerships to Boost Audience Growth
The company has been actively expanding its partnerships to enhance its presence and offerings in various regions. These partnerships indicate IMAX's efforts to not only strengthen its foothold in traditional cinema experiences but also to venture into the streaming domain, aligning with the evolving trends in the media and entertainment industry.
Shares of the company have gained 13.4% year to date compared with the Zacks Consumer Discretionary sector’s rise of 12.4%.
The extended collaboration between Golden Screen Cinemas and IMAX involves significant plans for the installation of six advanced IMAX with Laser systems in Malaysia. The expansion includes the establishment of five new IMAX locations. One of these locations will be situated in the center of Kuala Lumpur, the capital city of Malaysia. This strategic placement in the heart of the capital suggests an intention to target a wide and diverse audience.
IMAX and NCG Cinemas have entered into a new agreement to add two new IMAX venues in Tennessee and Georgia. This expansion into new states suggests a strategic effort to broaden IMAX's footprint and cater to a wider audience. The agreement also includes the improvement of an existing location in Michigan.
The strategic collaboration between IMAX and Prime Focus Technologies reflects a move into the streaming domain and the broader application of technology solutions.
IMAX's Stream Smart technology is a focal point of this collaboration. By making this technology more widely available, the companies aim to provide enhanced streaming experiences for customers in Europe, Asia and Australia.
Image: Bigstock
IMAX Expands Alliance With PATHE CINEMAS in Continental Europe
IMAX Corporation (IMAX - Free Report) and PATHE CINEMAS are expanding their partnership with the addition of five state-of-the-art IMAX with Laser systems in Europe, four of which will be in France. This expansion strengthens one of the most successful IMAX circuits in the world.
The partnership extends beyond exhibition to distribution. IMAX and PATHE LIVE, a subsidiary of PATHE dedicated to the production and distribution of event cinema, will release three upcoming PATHE LIVE films across the IMAX network.
The first film under the new agreement is set to be the first-ever Filmed for IMAX classical ballet stage performance. Swan Lake, choreographed by Rudolf Nureyev and performed by the Paris Opera Ballet, will be filmed with IMAX-certified cameras and is targeted for a global release at the end of 2024.
The new PATHE CINEMAS locations will be equipped with IMAX with Laser and the company’s most advanced theatre experience. This technology aims to provide an immersive moviegoing experience with crystal clear, lifelike images and precision audio, featuring a 4K laser projection system with custom-designed lenses and proprietary technology.
The agreement aligns with two key strategic priorities for IMAX, which include expanding its network in the French cinema market and diversifying its content portfolio across new experiences.
The company continues to achieve significant box office results in France, with 2019 being its highest-grossing year. IMAX and PATHE CINEMAS have been partners since 2010, operating 26 locations across various countries in Continental Europe, including France, the Netherlands, Belgium, Switzerland and Morocco.
IMAX and PATHE LIVE had previously collaborated successfully on Indochine's Central Tour, the first concert ever to be released through the Filmed for IMAX camera program.
IMAX Corporation Price and Consensus
IMAX Corporation price-consensus-chart | IMAX Corporation Quote
IMAX’s Expanding Global Partnerships to Boost Audience Growth
The company has been actively expanding its partnerships to enhance its presence and offerings in various regions. These partnerships indicate IMAX's efforts to not only strengthen its foothold in traditional cinema experiences but also to venture into the streaming domain, aligning with the evolving trends in the media and entertainment industry.
Shares of the company have gained 13.4% year to date compared with the Zacks Consumer Discretionary sector’s rise of 12.4%.
The extended collaboration between Golden Screen Cinemas and IMAX involves significant plans for the installation of six advanced IMAX with Laser systems in Malaysia. The expansion includes the establishment of five new IMAX locations. One of these locations will be situated in the center of Kuala Lumpur, the capital city of Malaysia. This strategic placement in the heart of the capital suggests an intention to target a wide and diverse audience.
IMAX and NCG Cinemas have entered into a new agreement to add two new IMAX venues in Tennessee and Georgia. This expansion into new states suggests a strategic effort to broaden IMAX's footprint and cater to a wider audience. The agreement also includes the improvement of an existing location in Michigan.
The strategic collaboration between IMAX and Prime Focus Technologies reflects a move into the streaming domain and the broader application of technology solutions.
IMAX's Stream Smart technology is a focal point of this collaboration. By making this technology more widely available, the companies aim to provide enhanced streaming experiences for customers in Europe, Asia and Australia.
Zacks Rank & Stocks to Consider
Currently, IMAX carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Consumer Discretionary sector are Comcast (CMCSA - Free Report) , Fox (FOXA - Free Report) and Warner Music Group (WMG - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Comcast has gained 21.8% on a year-to-date basis. The long-term earnings growth rate for CMCSA is currently projected at 10.32%.
Fox has gained 0.3% on a year-to-date basis. The long-term earnings growth rate for FOXA is currently projected at 11.97%.
Warner Music Group has lost 4.9% on a year-to-date basis. The long-term earnings growth rate for WMG is currently projected at 15.85%.