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IMAX Expands in India

IMAX Expands in India

IMAX Corporation, Mississauga, Canada-based entertainment technology company specializing in motion-picture technologies and large-format motion-picture presentations, reached agreements to bring nine new large-screen theaters to India. IMAX will partner with Mumbai-based INOX Leisure Ltd., on five of the theaters, and with Mexico’s Cinepolis India on the other four.

The new theaters will boost the total number of IMAX locations in the country to forty. Fifteen already are open and twenty-five are under contract. In February, IMAX announced a deal to add five cinemas in India through a partnership with Gurugram headquartered PVR Ltd., the largest theater chain in India. 

seats in a movie theater

Chief executive Richard L. Gelfond said, “We continue to make significant progress in India where IMAX’s 2017 box office increased 78% over the previous year.” He also added that Imax’s growth in the country is being propelled by “a greater audience appetite for Hollywood content as well as Imax’s programming of more Indian films, coupled with the increased pace of multiplex development.” In addition to Hollywood’s big-budget movies, Indian films such as Padmaavat and Baahubali 2 have also started to release on the large-screen format.

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