TOKYO – Megascreen theater association IMAX Corp. pronounced Tuesday it will expand in Japan — a ultimate in a array of international deals inked not long ago among growing demand for 3-D motion picture following a success of science novella blockbuster Avatar.
The Canada-based company, along with local partner Tokyu Recreation, will supplement 5 of a giant 3-D equipped screens in a Japan over a subsequent two years. Since Tokyu opened four IMAX theaters final year, box bureau receipts have exceeded expectations as well as convinced a Japanese association to build more.
"Performance has been unequivocally strong," pronounced IMAX chief executive Richard Gelfond of a Japanese theaters. "It's probably a strongest begin which we've had in any territory in a history."
The understanding is partial of a IMAX's aggressive expansion, quite in Asia. Those plans had already been in place final year as a association sought growth as well as a rebound from waste in 2008.
But afterwards Avatar — as well as a phenomenal success — came along in December. The movie fueled revenues, piqued seductiveness in 3-D worldwide as well as combined momentum to IMAX's expansion.
Avatar, a highest grossing movie of all time, additionally pennyless tellurian IMAX box bureau records, bringing in $237 million upon 256 screens. The company's biggest strike before a 3-D science novella epic was a Dark Knight, which made $62 million.
Financial returns for movie theaters were already good, Gelfond pronounced in Tokyo. "But Avatar unequivocally put them in an additional strata."
The agreement in Japan follows a 15-theater understanding it signed final month in South Korea, a four-theater understanding in F! rance as well as an expanded partnership in Russia.
The emergence of 3-D televisions additionally has a association considering how to parlay a success in to living rooms.
It may introduce a "very very high-end" 3-D home entertainment complement in a future, Gelfond told The Associated Press. It is additionally working upon a project with Sony Corp. as well as Discovery Communications to launch a initial 3-D television channel subsequent year.
"IMAX has been in a 3-D commercial operation for 25 years, so we have a satisfactory amount of content in a library," Gelfond said.
The association was originally known for offering educational films in science centers as well as museums. In 2002, it introduced technology which enabled standard 35mm motion picture to be digitally converted for a large-format cinemas at a reasonable cost.
An IMAX shade is like high-definition TV for a movie theater. They can be anywhere from 40-feet high such as upon 42nd Street in New York to eight-story high screens in London as well as Sydney.
As many as 700 people can fit in a single cinema. The technology offers enhanced visual as well as sound quality for multiform dollars some-more than a cost of a regular ticket.
Worldwide, there are 430 IMAX theaters in 48 countries, with at least 50 some-more upon a approach in 2010.
The company's income jumped 67 percent in 2009, as well as it rebounded to a net profit of $20.5 million. Its batch is up some-more than 200 percent over a past year.
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