IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company specializing in motion picture technologies and presentations. The company offers a cinematic solution combining proprietary software, theater architecture and equipment to create motion picture experience. The company’s principal businesses are the design and manufacture of premium theater systems (IMAX theater systems) and the sale, lease or contribution of those systems to customers under theater arrangements; and the digital re-mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network. The company’s customers who purchase, lease or otherwise acquire the IMAX theater systems through joint revenue sharing arrangements are theater exhibitors that operate commercial theaters (particularly multiplexes), museums, science centers, or destination entertainment sites. The company generally does not own IMAX theaters, but licenses the use of its trademarks along with the sale, lease or contribution of the IMAX theater system. The company refers to all theaters using the IMAX theater system as ‘IMAX theaters’. The company’s IMAX theater network included 1,061 theater systems (962 commercial, 99 institutional) operating in 67 countries as of December 31, 2015. The company has identified approximately 2,450 IMAX zones worldwide. Key international growth markets include Greater China (which includes the People’s Republic of China, Hong Kong, Taiwan and Macau), Japan, Latin America (which includes South America, Central America and Mexico) and Europe. As at December 31, 2015, the company had 307 theaters operating in Greater China and an additional 215 theaters (including two upgrades) in backlog. The company’s major single international partnership is in China with Wanda Cinema Line Corporation (Wanda). Wanda’s total commitment to the company is for 210 IMAX theater systems, of which 195 theater systems are under the parties’ joint revenue sharing arrangement. The company is also undertaking new lines of business, particularly in the area of home entertainment. In 2013, the company announced new home theater initiatives, including a joint venture with TCL Multimedia Technology Holding Limited (TCL) to design, develop, manufacture and sell a premium home theater system. In June 2015, the company and TCL unveiled the new premium home theater system in Shanghai, and expect to focus sales of the new system in China, the Middle East and other select global markets. The company has signed agreements for approximately 80 premium home theater systems. Beyond its premium home theater system, the company is also developing other components of a home entertainment platform designed to allow consumers to experience elements of The IMAX Experience in their homes. In addition to the design and manufacture of premium theater systems, the company engages in the production and distribution of original large-format films, the provision of services in support of the IMAX theater network, the provision of post-production services for large-format films, the operation of three IMAX theaters and, from time-to-time the conversion of two-dimensional (2D) and three-dimensional (3D) Hollywood feature films for exhibition on IMAX theater systems around the world. In June 2015, the company announced the creation of the IMAX China Film Fund with its subsidiary IMAX China and its partner CMC to help fund Mandarin language commercial films. Product Lines The company’s theater systems include specialized IMAX projectors, advanced sound systems and specialty screens. The company derives its revenues from IMAX theater systems (design, manufacture, sale or lease of, and provision of services related to, its theater systems); films (production and digital re-mastering of films, the distribution of film products to the IMAX theater network, post-production and print services for films); joint revenue sharing arrangements (the provision of its theater system to an exhibitor in exchange for a certain percentage of theater revenue and, in some cases, a small upfront or initial payment); theater system
imax corp (IMAX:New York)
2525 Speakman Drive
Mississauga, ON L5K 1B1
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