IMAX Corp. and Regal Entertainment said Friday the comapnies will expand their joint venture agreement to include installation of between 16 and 25 new theaters in the U.S.
The new installations are in addition to Regal’s previously committed rollout of 39 IMAX joint venture theatres, 34 of which are in currently in operation. Regal also plans to upgrade eight of its existing film-based IMAX theatres with IMAX's digital projection technology.
Upon completion of the full Regal IMAX rollout, Regal will operate up to 77 IMAX theatres.
“IMAX theatres deliver an immersive presentation of unparalleled sound and image quality that command a premium price from consumers, and we look forward to bringing that premium experience to more Regal audiences across the country," Regal CEO Amy Miles said.
IMAX has announced at least 198 theater systems signings year-to-date, versus 35 in 2009. It is the highest yearly total for the company.