What Else is Going On At IMAX?
New Laser-Based Projection System
As one of the world’s leaders in entertainment technology, IMAX strives to remain at the forefront of advancements in cinema technology. Accordingly, one of the company’s key short-term initiatives is the development of a next-generation laser-based digital projection system, which it plans to begin rolling out by the end of 2014. In order to develop the laser-based digital projection system, IMAX obtained exclusive rights to certain laser projection technology and other technology with applicability in the digital cinema field from Eastman Kodak Company (“Kodak”) in 2011 and entered a co-development arrangement with Barco N.V. to co-develop a laser-based digital projection system that incorporates the Kodak technology in 2012. Furthermore, in the second quarter of 2014, the company announced an agreement with Necsel IP, Inc. to be the exclusive worldwide provider of specified lasers for IMAX’s laser projection systems. The company believes that these arrangements with Kodak, Barco and Necsel will enable IMAX laser projectors to present greater brightness and clarity, a wider colour gamut and deeper blacks, and consume less power and last longer than existing digital technology. The company also believes that a laser projection solution will be the first IMAX digital projection system capable of illuminating the largest screens in its network that are currently using fully analog technology.
Other IMAX Home Theatre Initiatives
IMAX is undertaking new lines of business, particularly in the area of in-home theatre entertainment. In 2013, the company announced two new initiatives in the area of in-home entertainment, including a joint venture with TCL Multimedia Technology Holding Limited to design, develop, manufacture and sell a premium home theatre system that is smaller and less expensive than the IMAX Private Theatre. IMAX and TCL expect to launch the new home theatre system, which will incorporate components of IMAX’s projection and sound technology adapted for a broader home environment as well as PRIMA technology, in China and other select global markets in 2015. In April 2014, IMAX, TCL and Wasu Digital TV media group announced a joint-venture partnership whereby WASU will license and distribute IMAX-enhanced Hollywood and Chinese current theatrical and other content to the new home theatre system.
New IMAX Original Film Fund
In the second quarter of 2014, the company announced the creation of the IMAX Original Film Fund to co-finance a portfolio of 10 original large-format films. The Film Fund, which is intended to be capitalized with up to $50 Million, will finance an ongoing supply of original films that IMAX believes will be more exciting and compelling than traditional documentaries. The initial investment in the Film Fund was committed to by a third party in the amount of $25 Million, with the possibility of contributing additional funds. IMAX, which will contribute $9 Million to the Film Fund over five years, anticipates the Film Fund will be self-perpetuating, with a portion of box office proceeds reinvested into the Film Fund to generate a continuous, steady flow of high-quality documentary content. Home theatre enthusiasts always love to see new content for their systems and this fund will help to keep that content flow going.
The Big Finish
I have been a very good boy all of my life. I can even produce the gold stars to prove it. Please call Larry and Sarah and make this IMAX Private Theatre thing happen for me.
Regards, Bob Jones