IMAX Launches Institutional Upgrade Initiative; Signs Agreement With
Smithsonian For Next-Generation Laser Technology
Smithsonian's Three IMAX® Theatres to be Capable of Showing Full Spectrum of
NEW YORK, Jan. 15, 2013 /CNW/ - IMAX Corporation (NYSE: IMAX; TSX: IMX) and
the Smithsonian Institution today announced an agreement to install IMAX's
next-generation laser digital projection technology in the Smithsonian's three
IMAX(®) theatres, enabling the Smithsonian to deliver the highest-quality
digital content available – both documentaries and blockbuster films – and
further enhance The IMAX Experience(®) for its millions of visitors annually.
Under the terms of the agreement, the Samuel C. Johnson IMAX Theater at the
National Museum of Natural History and the Lockheed Martin IMAX Theater at the
National Air and Space Museum, both in Washington, D.C., and the Airbus IMAX
Theater at the Steven F. Udvar-Hazy Center in Chantilly, Va., will transition
to IMAX(')s laser digital projectors in 2014.
IMAX's next-generation projection system is expected to set a new benchmark as
the industry's premium entertainment experience. The system, which
incorporates the laser digital intellectual property IMAX exclusively licensed
from Eastman Kodak in 2011, represents the largest R&D initiative in IMAX's
history and will enable IMAX® dome theatres and IMAX screens larger than 80
feet to deliver the highest-quality digital content available with greater
brightness and clarity, a wider color gamut and deeper blacks.
"Building on our shared legacy of excellence and discovery, we're delighted
that the Smithsonian has adopted this new technology, acting as a springboard
for our institutional partners globally," said IMAX CEO Richard L. Gelfond.
"For over 35 years, our partnership with the Smithsonian has served as the
gold standard in delivering immersive entertainment experiences that educate,
inspire and showcase the wonders of our world. We believe the new laser
digital projection system will usher in a new era of quality and innovation in
projection technology and allow museum-goers to experience their favorite
documentaries and blockbusters as never before."
Since the National Air and Space Museum opened its doors to visitors in 1976,
the Smithsonian/IMAX partnership has delivered exceptional-quality and
critically acclaimed documentaries and world-class entertainment to millions.
The partnership also has funded and produced groundbreaking IMAX®
documentaries including The Dream is Alive, Blue Planet, Destiny in Space
(with Lockheed Martin Corporation), and Cosmic Voyage (with Motorola).
"Laser digital projection offers our visitors a more immersive and visceral
experience, as well as more programming opportunities," said Christopher A.
Liedel, President, Smithsonian Enterprises. "Today's agreement continues our
decades-long partnership with IMAX and strengthens our commitment to
delivering the best educational and entertainment experience."
About The Smithsonian The Smithsonian Institution, established in 1846 "for
the increase and diffusion of knowledge", is the world's largest museum and
research complex, consisting of 19 museums and galleries, the National
Zoological Park and nine research facilities. The Smithsonian Institution
holds a collection of 137 million items, and has facilities in Arizona,
Maryland, New York City, Virginia, Washington DC, and Panama, and 168 other
museums are Smithsonian affiliates. The Institution's thirty million annual
visitors are admitted without charge; funding comes from the Institution's own
endowment, private and corporate contributions, membership dues, government
support, and retail, including the three IMAX theaters, concession and
licensing revenues. Institution publications include Smithsonian and Air and
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 offices in
London, Tokyo, Shanghai and Beijing. As of Sept. 30, 2012, there were 689
IMAX theatres (556 commercial multiplex, 20 commercial destination and 113
institutional) in 52 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience® and IMAX Is Believing® 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
This press release contains forward looking statements that are based on IMAX
management's assumptions and existing information and involve certain risks
and uncertainties which could cause actual results to differ materially from
future results expressed or implied by such forward looking statements. These
risks and uncertainties are discussed in IMAX's most recent Annual Report on
Form 10-K and most recent Quarterly Reports on Form 10-Q.
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