Imax partners with Hoyts to add 10 new laser cinemas in Australia and New Zealand
Updated
Updated · MarketWatch · Apr 29
Imax partners with Hoyts to add 10 new laser cinemas in Australia and New Zealand
12 articles · Updated · MarketWatch · Apr 29
The agreement will nearly double Imax's presence in the region, expanding from four to fourteen Hoyts locations, with at least three sites opening by year-end and the rest through 2028.
All new cinemas will feature Imax with Laser, the company's most advanced technology, aiming to meet surging demand in Australia, which delivered a record $12.1 million box office last year.
Australia is now Imax's ninth-highest performing market globally, with the company's footprint growing from one to ten locations since 2022 and a total of fourteen more planned, including this latest expansion.
As Hoyts' ownership faces uncertainty, is this blockbuster IMAX deal a risky gamble?
Nolan and Villeneuve champion IMAX, but can local filmmakers capitalize on this expansion?
With superior tech and fewer seats, will a trip to the new IMAX become unaffordable?
Does the rise of premium screens like IMAX signal the end for the standard cinema?
Is IMAX's new laser technology the weapon that finally saves the movie theater?