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New Collaboration Brings State-of-the Art IMAX with Laser to Thriving Turkish Cinema Market for First Time
NEW YORK and ISTANBUL, April 24, 2024 /PRNewswire/ -- CineNOVA and IMAX Corporation (NYSE:IMAX) today announced a new partnership to install four new state-of-the-art IMAX® with Laser systems in Turkey. This agreement is the first collaboration between the two companies and will bring the first-ever premium IMAX with Laser systems to the country, marking a significant milestone for the market. The deal will bring the IMAX Experience to several key cities across Turkey, including Istanbul and Ankara, with installation for two of the locations scheduled to commence in 2024, and the remaining two set to open in 2025 and 2026.
"At CineNOVA, our mission has always been to provide our audience with the service level and quality that cinema truly deserves," said A. Hakan Askar, CEO of CineNOVA. "With the experience accumulated over the years by the CineNOVA team, we are dedicated to transforming the cinema landscape in Turkey once again. We are excited to contribute to the Turkish cinema industry with the best technology available, coupled with the best operations management possible – this partnership with IMAX exemplifies our dedication to providing our patrons with unforgettable cinematic experiences."
"Turkey is exemplary of the growth opportunities at hand for IMAX around the world; it is a market with a passionate moviegoing audience where IMAX is breaking box office records with significant room to grow our footprint," said Rich Gelfond, CEO of IMAX. "We're excited to join forces with CineNOVA, a new and ambitious player bringing fresh energy to the Turkish exhibition landscape, to offer IMAX with Laser to the country for the first time."
The strong performance of IMAX at the global box office in 2023 and 2024 to date continues to generate results and greater demand among global exhibitors. IMAX has been operating in Turkey since 2000 and currently has eight locations in the country, and this new deal with CineNOVA represents a 50% increase in IMAX's presence in the country. Three of the country's top five highest grossing titles for IMAX have been released since the end of 2022: "Oppenheimer" is the top grossing film ever, "Avatar: The Way of Water" is the second highest grossing film ever, and "Dune: Part Two" is the third highest grossing film ever. The country is also one of the Top 25 highest grossing markets for IMAX in 2024, and one of the Top 10 highest-grossing European markets for IMAX in 2024.
The four new CineNOVA locations in Turkey will be equipped with IMAX with Laser, IMAX's most advanced experience. IMAX with Laser has been developed from the ground up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The new locations will be set apart by the groundbreaking 4K laser projection system that features a new optical engine, custom-designed lenses, and a suite of proprietary technology, all of which delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX systems.
Posted In: IMAX
