IMAX Signs Five-Theater Deal with SM Prime
SM Prime Holdings is a mall operator and exhibitor in the Philippines.
Under the terms of the parties' agreement, three of the IMAX theater systems are expected to be installed in 2011 and two in 2012. SM will also open another location under a previous agreement in the city of Cebu in July 2010.
Hans Sy, president of SM Prime Holdings, said: “The tremendous success of our first two IMAX theatres demonstrates how consumers in the Philippines love The IMAX Experience, and based on this success, the next logical step for our business is to add more locations.”
Richard Gelfond, CEO of IMAX, said: “SM Prime Holdings has been a fantastic partner for us in the Philippines, and they have done a great job of marketing The IMAX Experience to their patrons, which has contributed significantly to the strength of the brand in that market.”
Will the move enhance IMAX's position in Philippine market?
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