StockNews.AI
IMAX
StockNews.AI
20 days

HOYTS Cinemas and IMAX Relaunch Partnership with Up to Five New IMAX With Laser Locations Across Australia

1. IMAX and HOYTS expand partnership, adding up to five new locations in Australia. 2. First location to open in Melbourne ahead of 'Avatar: Fire and Ash'. 3. Australia's IMAX market has significantly grown, showing strong box office performance. 4. IMAX with Laser technology will enhance the cinema experience at new locations. 5. Australia ranks tenth in IMAX box office, outperforming many established markets.

7m saved
Insight
Article

FAQ

Why Bullish?

The expansion in a thriving market signals robust growth and demand for IMAX.

How important is it?

The article highlights a significant strategic partnership and expansion in a key region, directly influencing IMAX's growth prospects.

Why Long Term?

As additional locations open, IMAX's revenue potential will increase significantly over time, similar to its past expansions in key markets like China.

Related Companies

HOYTSAMCCINECNK
First of New Locations Set to Open in Melbourne this Year Ahead of “Avatar: Fire and Ash” SYDNEY & NEW YORK--(BUSINESS WIRE)--IMAX Corporation (NYSE: IMAX) and HOYTS Cinemas, one of Australia’s leading cinema chains, today announced a new agreement for up to five state-of-the-art IMAX® with Laser systems throughout Australia. The deal reignites the partnership between the two companies, which have not operated an IMAX location together since 2019. The first new IMAX location is slated to open in Melbourne later in 2025, in advance of the release of “Avatar: Fire and Ash”. Up to an additional four locations will be identified for future expansion. “As the pioneer of IMAX screens in multiplex cinema in Australia, HOYTS is delighted to partner with IMAX again. Our foundation site at Melbourne Central will be open for ‘Avatar: Fire and Ash,’ with more sites to be announced shortly,” said Damien Keogh, CEO and President of HOYTS Group. “Every one of our cinemas has touch points that elevate them from a usual experience: from the quality of our recliners, through to state-of-the-art technical enhancements. The opportunity to see things on IMAX is really going to enhance HOYTS’ reputation as the premier destination for film experiences.” “Australia continues to be a priority for IMAX, and this agreement with HOYTS Cinemas to expand and diversify our footprint is just the latest sign of our strong momentum in this thriving moviegoing market,” said Rich Gelfond, CEO of IMAX. “HOYTS is an exceptional, well-established exhibitor in Australia and New Zealand, and we’re looking forward to getting back in business with the company to further satisfy surging demand for the IMAX Experience.” IMAX has seen unprecedented growth in Australia, driven by strong box office performance and exceptional moviegoer demand. The company’s footprint in Australia has grown from just one location in 2022 to four currently in operation and another ten set to open in the next several years. Australia currently ranks as the tenth market overall for IMAX box office — a stellar result from just four locations in the country and ranking behind powerhouse IMAX markets like the U.S., China, Japan and the UK. Last year, IMAX notched its highest grossing year since 2015 in Australia, and the country was the top market overall by per-screen-average (PSA) for IMAX, with an average of nearly $4.5 million per screen. The deal comes as IMAX continues a hot streak of Filmed for IMAX titles – in Australia, IMAX delivered nearly 6% of last weekend’s debut of “Superman,” despite only having four locations in the country. Earlier this summer, “Mission: Impossible – The Final Reckoning” was among the top opening weekends ever for IMAX in Australia, delivering over $400K in box office. Overall, IMAX indexing in Australia has grown dramatically, going from 2.6% of the overall box office in 2024 to 4.4% in 2025 to date, with several Filmed for IMAX titles to go including next week’s debut of Disney/Marvel’s “The Fantastic Four: First Steps.” The new HOYTS IMAX locations will be equipped with IMAX with Laser, IMAX's most advanced cinema experience. Developed from the ground up for maximum immersion, IMAX with Laser delivers crystal-clear 4K images, precision audio, and state-of-the-art projection technology, setting a new standard for moviegoing. The system features a groundbreaking optical engine, custom-designed lenses, and proprietary IMAX technology that delivers brighter images, deeper contrast, and the widest range of colors exclusively to IMAX screens. About HOYTS Since opening the doors of its first cinema in 1909, HOYTS has gone on to become one of the world’s leading entertainment companies, with more than 500 screens and over 60,000 seats across the network. Today, HOYTS is the largest single-brand movie exhibitor in Australia and New Zealand. 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 systems to connect with audiences in extraordinary ways, making IMAX's network 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 March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code “1970”. IMAX®, IMAX® 3D, Experience It In IMAX®, The IMAX Experience®, DMR®, Filmed For IMAX®, IMAX LIVE™, and IMAX Enhanced® are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com. You may also connect with IMAX on Instagram (www.instagram.com/imax), Facebook (www.facebook.com/imax), LinkedIn (www.linkedin.com/company/imax), X (www.twitter.com/imax), and YouTube (www.youtube.com/imaxmovies).

Related News