MUMBAI: Imax Corporation and movie-theatre operator PVR Cinemas said Thursday they have signed an agreement to install digital Imax theatre systems in four key locations across India.
Under the terms of the deal, the first two systems would be installed within a year at PVR multiplexes in Mumbai and Bangalore. The other two locations are yet to be determined.
Said PVR chairman Ajay Bijli, " There is a growing appetite for premium entertainment in India and with a massive popularity of the Imax brand worldwide, it has become very clear to us that now is the ideal time for us to enter into the Imax business. Imax is one of the world‘s most recognised premium entertainment brands and it fits perfectly with our mission to offer our guests the ultimate in movie-going experiences."
While Imax has been expanding its footprint in overseas markets, PVR has been looking at tapping into the growing demand for premium entertainment in India.
Said Imax CEO Richard Gelfond, "India has a vibrant moviegoing culture, and it is one of our most important and largely untapped growth markets."
The four-theatre agreement follows multi-theatre deals unveiled by Imax in Russia and China in the last 10 days.
PVR Cinemas currently operates 142 screens in 18 cities in India.
