LOS ANGELES – IMAX Corporation said Monday that it has acquired a stake in content distributor PRIMA Cinema in order to use its technology to offer current movies from studios such as Paramount Pictures and Universal Pictures for home viewing.
PRIMA Cinema’s proprietary systems transmit current theatrical releases in a highly encrypted, location-sensitive fashion for secure home viewing. IMAX said that it will integrate the technology into its Private Theatre platform to enhance the image and sound of the content to offer customers the highest possible quality.
As part of the agreement, IMAX will receive a five-year window of exclusivity to distribute and resell PRIMA systems in China, and maintain a seat on PRIMA Cinema's board of directors.
"Today's agreement with PRIMA Cinema enhances our ability to deliver a premium, end-to-end in-home entertainment experience, combining the best of IMAX's immersive image and sound technology with the delivery of current theatrical titles," said IMAX CEO Richard L. Gelfond, in the news release. "In addition to using PRIMA Cinema in our IMAX Private Theatre systems, we are also exploring ways to integrate IMAX's proprietary technology and PRIMA Cinema's delivery system into other premium in-home applications."
