Imax is gearing up to populate more areas of France. They plan to triple the size of theaters in the country, making the number go from 22 to more than 60. There is also talk of Imax growing its relationship with Kinepolis and adding more to Europe and North America. Kinepolis will also receive seven new Imax with Laser systems that will be placed in Ontario, Belgium, Michigan, Luxembourg, and Spain.
In regards to the Box Office, Imax is bouncing back from the low pandemic record, and is now No. 7 in the global market as of this year. Imax recently hit its best first quarter in records in France’s Box Office receiving $9.3M. This is huge compared to its highest grossing quarter numbers which were $9.5M at the end of quarter 4 in 2022.
This year is on track to possibly be one of France’s biggest year’s yet when it comes to box office revenue. Compared to 2019’s record holding numbers ($21.9M), Imax in France has made more than 50% of that revenue this year. When Avatar: The Way Of Water released earlier this year, the numbers ($13.5M) broke records making it Imax’s biggest movie yet in the country.
Imax is also set to expand further than France in agreement with Kinepolis. With recent news revealed at the Cannes Film Festival, Imax and Kinepolis will go farther and will reach seven areas around Canada and Belgium.
“This agreement shows our continued commitment to invest in the ultimate movie experience, allowing more film lovers the opportunity to watch films in Imax… Moviegoers increasingly expect premium movie experiences and we know from our customers IMAX meets those expectations in every way. We are happy and proud to announce this extended partnership, which we believe will bring value to everyone involved.” – Eddy Duquenne, CEO of Kinepolis Group.
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