IMAX continued its record growth momentum in India by signing two new deals with INOX Leisure Limited and Cinépolis India for a total of 9 new IMAX theatres to be installed in new complexes across India (press releases attached). The announcement, which follows a recent 5-theatre agreement with PVR Cinemas in February, marks 14 new theatres for the Company since just the beginning of 2018 and nearly doubles its contracted footprint since this time last year to 40 theatres.
While IMAX has highlighted India as a priority for many years now, in the past two years it has seen significant traction in the country with the success of recent Indian Blockbusters such as Padmaavat, as well as a growing moviegoer preference to more premium, event-driven cinema.
We would like to offer an opportunity to interview IMAX CEO, Rich Gelfond, on IMAX’s recent activity in India as well as its future plans for growth and becoming more involved in the Indian film community.
Please find attached the press releases on the two announcements for your perusal. Let us know if this would be of interest to you and if you can cary the same. We would also be happy to plan an interview, in case you would like one.