Imax Inks Eight Theater Deal With Indonesia's Cinema 21
TORONTO – Indonesian exhibitor Cinema 21 has expanded its stable of Imax theaters from two to 10 screens.
Imax on Tuesday said Cinema 21 exercised an option for another eight theaters throughout Indonesia after opening a large format screen in Gandaria City, south Jakarta.
The Indonesian exhibitor has another Imax theater slated to open in Kelapa Gading, north Jakarta.
“Today's agreement marks an important step in expanding our presence in the Indonesian market - the most populous country in Southeast Asia, with one of the more robust economies in the region," said Imax CEO Richard Gelfond in a statement Tuesday.
The Indonesian deal follows similar expansion by Imax elsewhere internationally where one anchor theater in a major city is followed by the opening of additional screens in satellite markets.
Cinema 21 has 631 screens in 31 cities across Indonesia, and operates under the Cinema XXI, Cinema 21 and The Premiere brands.