NEW YORK & SAN JOSE, Calif.--(BUSINESS WIRE)--IMAX Corporation (NYSE: IMAX), audio leader DTS®, a wholly-owned subsidiary of Xperi Corporation (Nasdaq: XPER), and Sony Pictures Entertainment (SPE) today announced a significant expansion of the IMAX Enhanced ecosystem with SPE’s commitment to release hundreds of new titles in the IMAX format over the next two years, including all upcoming SPE and IMAX theatrical releases.
With at least 100 new titles coming over the next 12 months and hundreds of additional titles expected in the years to follow, IMAX Enhanced exponentially increases its SPE premium content footprint for consumers worldwide via this commitment. The IMAX Enhanced releases will be available across Europe, North America and Asia Pacific regions.
IMAX Enhanced is the only way to experience IMAX’s signature picture, sound and scale outside of a movie theater, combining exclusive, IMAX digitally remastered 4K HDR content and DTS premium audio delivered through high-end consumer electronics and streaming platforms.
“We are thrilled to announce an expansion of our support of the IMAX Enhanced program with hundreds of additional titles from the legendary SPE catalog, as well as new, theatrical releases for best-in-class home entertainment. The success that SPE has enjoyed in collaborating with IMAX and DTS has inspired the decision to significantly increase our commitment and volume of content to meet the growing demand for IMAX Enhanced,” said Pete Wood, SPE’s Senior Vice President, New Digital Distribution. “Today’s agreement underscores SPE’s belief in the value of high-quality viewing experiences that IMAX Enhanced is able to bring to discerning consumers. Always at the forefront of delivering exceptional content to viewers, wherever they are, SPE’s investment in the IMAX Enhanced program ensures that we will continue to deliver even more of our films to audiences who now expect to experience movies at the highest technical quality– even in their own homes.”
“Today’s announcement represents the latest milestone for IMAX Enhanced as Sony Pictures Entertainment, IMAX and DTS continue to work hand in hand to redefine high-quality at-home entertainment,” said Patrick McClymont, Executive Vice President and Chief Financial Officer, IMAX Corporation. “SPE’s storied library provides our fans access to an unprecedented, ever-expanding roster of movie favorites across multiple genres. We look forward to continuing to drive momentum on all fronts by working tirelessly with our leading consumer electronics and streaming partners on delivering breakthrough technology and content experiences for consumers around the world.”
“IMAX Enhanced continues to experience amazing support and participation by partners across the ecosystem as the demand for differentiated content and immersive entertainment experiences continues to grow,” said Bill Neighbors, Xperi Senior Vice President & General Manager, Cinema, Home, Digital Media & Streaming Solutions. “As consumers look for new and different ways to enjoy their favorite content, SPE’s rich content library is a seamless fit with IMAX Enhanced – preserving the films’ best-in-class sight, sound and scale for an at-home entertainment experience that truly stands out.”
The addition of hundreds of new SPE titles delivers on growing demand for IMAX Enhanced as a premium content experience. The IMAX Enhanced content library already includes blockbuster and fan favorites such as Spider-Man™: Far From Home, Jumanji: The Next Level, Spider-Man: Homecoming, Venom, Bad Boys For Life, Jumanji: Welcome To The Jungle, Spider-Man: Into the Spider-Verse, Only The Brave, Men In Black™: International, Zombieland: Double Tap, A Beautiful Day In The Neighborhood, Little Women (2019), and Charlie’s Angels (2019).
Now available on four streaming platforms in 14 countries worldwide and across 17 leading certified consumer electronics manufacturers, IMAX Enhanced uses the newest, proprietary digital remastering technology developed by IMAX to deliver ultra-vivid 4K HDR picture with more vibrant colors. Select IMAX Enhanced content features its signature expanded aspect ratio – enabling viewers the full scope and scale of the picture. IMAX and DTS have also partnered with award-winning Hollywood sound mixers to use a special variant of the DTS:X codec technology integrated in home audio equipment to deliver an IMAX signature sound experience with more immersive, powerful sound. To ensure optimized playback of fully immersive IMAX Enhanced content, the two companies are also designing an IMAX Mode, meticulously calibrated to deliver the best viewing and listening experience in the home.
For more information about IMAX Enhanced, please visit www.IMAXenhanced.com.
About Sony Pictures Entertainment
Sony Pictures Entertainment (SPE) is a subsidiary of Tokyo-based Sony Corporation. SPE's global operations encompass motion picture production, acquisition, and distribution; television production, acquisition, and distribution; television networks; digital content creation and distribution; operation of studio facilities; and development of new entertainment products, services and technologies. SPE’s Motion Picture Group production organizations include Columbia Pictures, Sony Pictures Animation, Screen Gems, TriStar Pictures, 3000 Pictures, Stage 6 Films, AFFIRM Films, and Sony Pictures Classics. For additional information, visit http://www.sonypictures.com/corp/divisions.html.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2020, there were 1,616 IMAX theater systems (1,526 commercial multiplexes, 14 commercial destinations, 76 institutional) operating in 81 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corp., trade on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
About Xperi Corporation
Xperi Corporation (Nasdaq: XPER) and its brands DTS, IMAX Enhanced, HD Radio, and Invensas are dedicated to creating innovative technology solutions that enable extraordinary experiences for people around the world. Xperi’s solutions are licensed by hundreds of leading global partners and have shipped in billions of products in areas including premium audio, automotive, broadcast, computational imaging, computer vision, mobile computing and communications, memory, data storage, and 3D semiconductor interconnect and packaging. For more information, please visit www.xperi.com.
This news release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the IMAX and DTS partnership and the expected features, benefits, characteristics and launch of IMAX Enhanced titles and partnerships. Material factors that may cause results to differ from the statements made include the plans or operations relating to the businesses of Xperi; market or industry conditions; changes in patent laws, regulation or enforcement, or other factors that might affect Xperi's ability to protect or realize the value of its intellectual property; the expiration of license agreements and the cessation of related royalty income; the failure, inability or refusal of licensees to pay royalties; initiation, delays, setbacks or losses relating to Xperi's intellectual property or intellectual property litigations, or invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; the risk of a decline in demand for semiconductors and products utilizing our audio and imaging technologies; failure by the industry to use technologies covered by Xperi's patents; the expiration of Xperi's patents; Xperi's ability to successfully complete and integrate acquisitions of businesses; the risk of loss of, or decreases in production orders from, customers of acquired businesses; financial and regulatory risks associated with the international nature of Xperi's businesses; failure of Xperi's products to achieve technological feasibility or profitability; failure to successfully commercialize Xperi's products; changes in demand for the products of Xperi's customers; limited opportunities to license technologies due to high concentration in applicable markets for such technologies; the impact of competing technologies on the demand for Xperi's technologies; pricing trends, including Xperi's ability to achieve economies of scale; and other developments in the markets in which Xperi operates, as well as management's response to any of the aforementioned factors. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the Risk Factors included in Xperi's recent reports on Form 10-K and Form 10-Q and other documents of Xperi on file with the Securities and Exchange Commission (the "SEC"). Xperi's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statements made or incorporated by reference herein are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Xperi will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Xperi or its business or operations. Except to the extent required by applicable law, Xperi undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.