This is the first multipicture agreement between Imax and Fox, they say this morning. And it means the large screen venues will get the studio’s upcoming tentpoles including Deadpool, Independence Day Resurgence, Maze Runner: The Death Cure and an untitled Wolverine project.
The films will be digitally re-mastered using Imax’s proprietary technology.
“Given their exciting upcoming slate, the agreement makes strategic sense for both companies,” Imax CEO Rich Gelfond says. “We are also excited to be able to release blockbusters together in China, which we think could help Imax and Fox expand our footprint in that market jointly.”
Fox’s Worldwide Marketing and Distribution President Paul Hanneman and Domestic Theatrical Distribution President Chris Aronson say in a joint statement that the arrangement gives audiences “another choice in their viewing of our movies.”
The announcement comes as Imax is set to begin a one-week showing of Fox’s The Martian in 3-D in domestic and global markets including China.
“The signing is significant as until now Fox has largely operated with Imax on a film by film basis and as a result Imax has been underweight Fox product, a negative particularly given Fox’s strong international operations,” Stifel Research’s Benjamin Mogil says. “This underweight position has been an issue for some exhibitors in markets where Fox had particularly strong share.”
Imax said this week that it will end this year with 130 installations, up from the 120 it expected, with as many as 120 to come next year.