AMC Theatres today signed a binding letter of intent to install IMAX’s new laser experience for commercial multiplexes in 87 of the exhibitor’s highest-performing IMAX at AMC locations across the U.S. The announcement coincides with the launch of IMAX with Laser.
Under the agreement, the IMAX with Laser systems operate under a joint revenue sharing arrangement with renewed 12-year lease terms, and are expected to be installed between 2018 and 2022. Additionally, AMC will be undertaking a complete renovation in the locations with several additional movie going enhancements including the installation of IMAX’s 12-channel immersive sound, luxury plush rocker seating, redesigned entryways and in-theatre branding.
“The next-generation of IMAX with Laser represents a technological breakthrough years in the making aimed at delivering consumers a bold, more differentiated IMAX blockbuster moviegoing experience,” said IMAX CEO Richard L. Gelfond. “Together with AMC, our largest exhibitor partner in North America, we look forward to continuing our legacy of providing unforgettable entertainment experiences through the launch of IMAX with Laser and several premium in-theatre upgrades at 87 of its top locations. In addition to the economics of the new laser system remaining attractive and coming with 12-year lease extensions, we believe this powerful new product will over time help ensure that IMAX remains the premium cinematic experience of choice among moviegoers, studios, filmmakers and theatre partners alike.”