IMAX Corporation

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IMAX Corporation
Type Public
Traded as NYSEIMAX
TSXIMX
Industry Motion picture production and exhibition
Predecessor(s) Multi-Screen Corporation, IMAX Systems Corporation
Founded 1968 in Montreal, Quebec, Canada
Founder(s) Graeme Ferguson
Roman Kroitor
Robert P. Kerr
William Shaw[1]
Headquarters Mississauga, Ontario, Canada
Area served Worldwide
Key people Bradley Wechsler (Chairman)
Richard Gelfond (CEO)
Products Special-venue films and movie theatres
Revenue Increase US$289.54 million (FY 2012)[2]
Profit Increase US$ 41.3 million (FY 2012)[2]
Total assets Increase US$421 million (FY 2012)[2]
Total equity Increase US$253 million (FY 2012) [2]
Employees 526[2]
Divisions IMAX DMR, IMAX Dome, OMNIMAX
Subsidiaries Ridefilm Corporation, Sonics Associates, David Keighley Productions[3]
Website www.imax.com

The IMAX Corporation is a Canadian theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post production and distribution to IMAX affiliated theatres worldwide.[4] It was founded in 1968 as a result of Expo 67 in Montreal. It has operations in Toronto, as well as New York City and Los Angeles.

As of December 2013, the IMAX theater network consisted of more than 837 theatres (IMAX, IMAX 3D and IMAX Dome) in more than 57 countries.[2] The majority of theatres are equipped with IMAX 3D.[5]

History[edit]

IMAX is a Canadian corporation that is based in Toronto and Mississauga, Ontario. The Company was officially founded in 1967 when three filmmakers, Graeme Ferguson, Roman Kroiter and Robert Kerr incorporated IMAX Corporation. The idea and the new technology, which resulted in the birth of the company, came from the inspiration Ferguson, Kroitor and Kerr experienced viewing the Montreal Expo ‘67 films Labyrinth and Polar Life.[6] These films used a multi-screen formatting which either depicted different images concurrently or the same image replicated on one screen which ultimately lead to a more real life experience for the audience. From this platform, Graeme Ferguson, Roman Kroitor and Robert Kerr realized that new technology would be necessary to develop a larger and more complex project than previously seen. As a result, they sought an engineer named William Shaw in 1968 [7] (he had gone to Galt Collegiate Institute in Galt, Ontario, now Cambridge, with Ferguson and Kerr) to help develop this technology. Shaw created this new projector that allowed for films to have exceptionable quality and to be ten times larger than conventional 35mm picture frames.[8] The first movie IMAX Corporation produced using this new technology was Tiger Child which was featured at Expo ’70 in Osaka, Japan.[8] It was because of the multi-screen viewing that Graeme Ferguson, Roman Kroiter and Robert Kerr wanted to create a theatre with giant screens, surround sound and stadium seating.

William Shaw was instrumental in helping IMAX Corporation fulfill its ambitions in creating larger and more realistic experiences for audience which included oversized screens, surround sound and steep seating for better viewing.[6] Shaw remained at IMAX (although officially retired) as a designer and inventor until his passing on August 31, 2002 at the age of 73.[8] Before retiring Shaw created a 3D camera which was sent to the International Space Station for IMAX films.[8] Another engineer at IMAX Corporation Brian Bonnick, Chief Technology Officer at IMAX Corporation, developed technologies that made it possible for the worldwide IMAX to produce major Hollywood films.[9] It was a critical point when IMAX Corporation sought to expand in 1994 by publicly listing IMAX on the NASDAQ stock exchange, and it became apparent then the future of the company rest in their ability to attract Hollywood production houses.[6] To do this required flexible technology able to adapt quickly in various locations. Bonnick and his group created IMAX DMR (Digital Re-Mastering), which allowed for these requirements and paved the way for the large Hollywood blockbuster movies that would soon result. IMAX Corporation has gone on to expand with various new technologies including The IMAX Experience and the IMAX MPX theatre system and have also revamped IMAX 2D footage into IMAX 3D.[9] The success of IMAX has made it possible for IMAX Corporation to sign deals with countries around the world. In 2009 IMAX Corporation signed a deal with China building the first ever IMAX theatre in Tianjin, China.[10] The theatre was set to open in 2012. In March 2011 IMAX noted that China’s Wanda Cinema Line announced a 75-theatre deal with IMAX Corporation. This was one of the largest international deals to the date of 2011 for IMAX and one of the second largest in Company History.[11] While IMAX Corporation has expanded profoundly throughout the decades, it still sees itself as a leader in:

  • Entertainment -Hollywood insiders that partner with movie makers
  • Technology – innovative patented technology
  • Distribution – global with 689 theaters in 52 countries as of 30/09/12 [12]

The Company mantra is “IMAX IS BELIEVING”, highlighting the original founder’s philosophies of creating a real life like experience for the audience.

See also[edit]

References[edit]

  1. ^ Charles Acland. "IMAX Systems Corporation". The Canadian Encyclopedia. Retrieved 2012-02-24. 
  2. ^ a b c d e f http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9106614-852-703627&type=sect&dcn=0001193125-13-069594
  3. ^ "Imax Corporation - Company History". Fundinguniverse.com. Retrieved 2012-02-24. 
  4. ^ "History of IMAX". Funding Universe. 2011-09-03. Retrieved 2013-04-02. 
  5. ^ [1][dead link]
  6. ^ a b c Anonymous (Spring 1993). "Oscar Nominated Canadian Company on the Leading Edge". Performing Arts & Entertainment in Canada. Retrieved 3 April 2013. 
  7. ^ Tillson, Tamsen (September 15, 2002). "Obituaries: Shaw Thought Big: IMAX". Variety. Retrieved 3 April 2013. 
  8. ^ a b c d Anonymous (September 10, 2002). "His Talents Made IMAX Possible". National Post. Retrieved 3 April 2013. 
  9. ^ a b Anonymous (September 24, 2007). "IMAX Corporation". The Globe and Mail. Retrieved 3 April 2013. 
  10. ^ Anonymous (May 5, 2009). "IMAX Corporation; IMAX Signs Theatre Deal in China". China Weekly News. Retrieved 3 April 2013. 
  11. ^ "IMAX". IMAX Corporation. Retrieved 3 April 2013. 
  12. ^ "IMAX". IMAX Corporation. Retrieved 3 April 2013. 

External links[edit]