Shanghai Hoyts Cinema IMAX Theatre Officially Opens with IMAX's Bold, Immersive New Laser Experience
SHANGHAI, Aug. 31, 2018 /PRNewswire/ -- Wanda Films Co., Ltd. (hereinafter referred to as "Wanda Film", 002739.SZ) and IMAX China Holding Inc. (HKSE: 1970) jointly launched IMAX's new ground-breaking laser experience in China at Shanghai Hoyts Cinema in IMIX PARK. Wanda Film and IMAX once again transforming the premium blockbuster moviegoing experience by introducing IMAX® with Laser to audiences in China.
IMAX Chief Technology Officer Brian Bonnick, Wanda Film Vice President and General Manager of Development Department Zeng Guang, Wanda Cinema Technology Service Co., Ltd. General Manager Wang Qi, Wanda Film Integrated Management Center General Manager Li Jinbo, IMAX China Chief Marketing Officer Jessie Chou, IMAX China Chief Financial Officer and Chief Operating Officer Jim Athanasopoulos, and IMAX Senior Vice President of Theater Development Karl Yuan, attended the event and witnessed this milestone moment together with nearly 400 industry guests, media and IMAX and Wanda fans. Paramount Pictures' Mission Impossible 6: Fall Out is the opening film at the launch event.
For the launch of the IMAX® with Laser system in Shanghai Hoyts Cinema, a subsidiary of Wanda Film, Zeng Guang, Vice President and General Manager of Development Department said in his speech, "Wanda Film always adheres to high standard of design and construction concept, top-notch film screening technology and high quality standardized service, in aim to create the ultimate movie-going environment for fans. We're always at the forefront of the country and the world in terms of introducing and promoting the latest projection technology. As the first Hoyts brand cinema in Shanghai, the new cinema will surely bring fans a more immersive viewing experience with the upcoming IMAX® with Laser system."
The China release of IMAX® with Laser coincides with IMAX's recent launch of the company's largest branding campaign in history. "IMAX® with Laser released this time represents a technology breakthrough. Together with Wanda Film, we are very delighted to deliver consumers a more differentiated and powerful IMAX blockbuster movie-going experience with this innovative technology," said Jessie Chou, IMAX China Chief Marketing Officer at the opening ceremony. "The official launch of this next-generation IMAX with Laser experience also strongly conveys the core message of IMAX's new brand campaign: experience films to their fullest through the world's most immersive film experience, the way filmmakers intended their movies to be seen."
At the opening ceremony of Shanghai Hoyts Cinema IMAX® with Laser Theater, Brian Bonnick, Chief Technology Officer of IMAX Corporation delivered a presentation for the audience, introducing the innovations and technology features of IMAX® with Laser. This next-generation IMAX with Laser experience represents the biggest R&D investment ever in IMAX history. It is set apart by its next-generation 4K laser projection system which features a new optical engine and a suite of proprietary IMAX technologies that deliver increased resolution, sharper and brighter images, deeper contrast as well as the most distinct, exotic colors ever available on-screen.
The Hoyts cinema is a high-end Australian cinema chain that was aquired by Wanda in 2015, and Shanghai Hoyts Cinema in IMIX PARK is the first Hoyts brand cinema in Shanghai. It combines the old Shanghai style with Hollywood film elements in the 40s and 50s, highlighting the artistic atmosphere of the viewing scene. At the same time, it gives a new technical blessing on the hardware of the cinema. The launch of the new IMAX® with Laser system in China marks another milestone of the partnership between IMAX and Wanda Film and shows both sides will continue to innovate and keep moving forward in the era of laser projection.
To date, the Company has signed agreements for more than 180 of its new IMAX with Laser systems worldwide.
About Wanda Film
As of June 30, 2018, Wanda Film has 552 directly operated theaters and 4,872 screens in China, Australia and New Zealand, among which 497 cinemas and 4,409 screens are in China, and 55 cinemas and 463 screens are overseas.
In 2017, Wanda's operating income was 13.2 billion yuan. Box office revenue, market share, and movie viewers all rank the first in the country for nine consecutive years. With a brand value of 19.119 billion yuan, Wanda Film listed among "Top 500 Chinese Brands in 2017" and ranked first in the entertainment industry.
As an industry leader, Wanda Films is committed to providing a comfortable viewing environment, leading audio-visual technology, high-quality service and a wealth of diverse post-film productions to hundreds of millions of moviegoers every year. Now Wanda Film is transforming from film exhibitor to a technological, platform-based, and ecological company. Wanda Film will create a globally-leading movie-going ecosystem based on its layout in the whole industry chain.
Today, Wanda Film has more than 100 million members and has the world's leading film membership system. Consumers here are more than just watching movies, but more like a trip to the "extreme screening quality + unique entertainment experience".
About IMAX China
IMAX China is a subsidiary of IMAX Corporation, and is incorporated under the laws of Cayman Islands. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China. IMAX China trades on the Hong Kong Stock Exchange under the stock code "HK1970".
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2018, there were 1,410 IMAX theater systems (1,314 commercial multiplexes, 12 commercial destinations, 84 institutional) operating in 79 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970".
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
