Profile: Imax Corp (IMAX.N)
IMAX Corporation, incorporated on January 1, 2002, is an entertainment technology company. The Company offers motion picture technologies and presentations. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. IMAX offers end-to-end cinematic solutions combining software, theater architecture and equipment to create the immersive motion picture experience. The Company's theater network is a theatrical distribution platform for event films across the world. The Company's principal businesses include the design and manufacture of theater systems (IMAX theater systems) and the sale, lease or contribution of those systems to customers, and the Digital Re-Mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network.
IMAX theater systems include IMAX Digital Re-Mastering (DMR) movie conversion technology, projectors with specialized equipment and automated theater control systems, sound system components and specialized theater acoustics. As of December 31, 2016, the Company owned 1,215 theater systems operating in 75 countries. The Company's international markets include Greater China, which includes the People's Republic of China, Hong Kong, Taiwan and Macau; Japan; Latin America, which includes South America, Central America and Mexico, and Europe. The Company's customers purchasing, leasing or otherwise acquiring the IMAX theater systems are theater exhibitors that operate commercial theaters (particularly multiplexes), museums, science centers or destination entertainment sites.
The Company's technologies include DMR, IMAX Xenon-based Digital Projection System and IMAX Laser-based Digital Projection System. In addition to the design and manufacture of theater systems, the Company is also engaged in the production and distribution of original large-format films, provision of services in support of the IMAX theater network, provision of post-production services for large-format films, operation of three IMAX theaters and, from time to time, the conversion of two-dimensional (2D) and three-dimensional (3D) Hollywood feature films for exhibition on IMAX theater systems around the world.
IMAX systems segment
The IMAX systems segment is engaged in the design, manufacture, sale or lease of IMAX theater projection system equipment. The Company's digital projection systems include a projector and a digital theater control system; a digital audio system delivering up to 12,000 watts of sound; a screen with a coating technology, and 3D glasses cleaning equipment.
Theater system maintenance segment
The theater system maintenance segment is engaged in the maintenance of IMAX theater projection system equipment in the IMAX theater network. The Company also offers extended warranty services for the theater system. The Company provides proactive and emergency maintenance services to every theater in its network.
Joint revenue sharing arrangements segment
The joint revenue sharing arrangements segment is engaged in the provision of IMAX theater projection system equipment to exhibitors. The Company also advises the customer on theater design, supervises the installation of the theater systems and provides projectionists with training in using the equipment. The Company has two types of joint revenue sharing arrangements: traditional and hybrid.
Film production and IMAX DMR segment
The film production and IMAX DMR segment produces films and performs film re-mastering services. The Company's IMAX DMR technology digitally re-masters Hollywood films into IMAX digital cinema package format or 15/70-format film for exhibition in IMAX theaters.
Film distribution segment
The film distribution segment distributes films for which the Company has distribution rights. The Company is also a distributor of large-format films, primarily for its institutional theater partners. The Company generally distributes films which it produces or for which it has acquired distribution rights from independent producers. The Company receives either a percentage of the theater box-office receipts or a fixed amount as a distribution fee.
Film post-production segment
The film post-production segment provides film post-production and film print services. It provides film post-production and quality control services for large-format films (whether produced internally or externally), and digital post-production services.
The other segment includes certain IMAX theaters that the Company owns and operates, camera rentals and other miscellaneous items. As of December 31, 2016, the Company had two owned and operated theaters on leased premises. The Company rents its 2D and 3D large-format film and digital cameras to third-party production companies. The Company maintains cameras and other film equipment, and also offers production advice and technical assistance to both documentary and Hollywood filmmakers.
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