SM Cinema, the largest exhibitor in the Philippines, and Imax Corporation today announced a significant expansion to their longstanding partnership, with ten Imax with Laser systems. The deal will bring the Imax Experience to three new locations, as well as seven Imax with Laser upgrades to existing systems across the SM Cinema network. Three of the upgraded locations are expected to open in 2024, with the remaining locations set to open before the end of 2026.
"The inclusion of the Philippines in the discourse underscored its growing significance in the global entertainment landscape, affirming SM Supermalls' goal in shaping the industry's future," said SM Supermalls president Steven T. Tan.
"With our biggest system agreement yet in 2024, Imax continues to see network expansion accelerate as the film slate picks up steam — an excellent indicator of our continued business momentum globally," said Rich Gelfond, CEO of Imax. "SM Cinema is a vital component of one of the most successful and forward-thinking retail developers in the world and we are excited to more than double our footprint in the Philippines in collaboration with such an excellent, consumer-focused partner."
Imax and SM Cinema have enjoyed a successful partnership since 2006 and, excluding this deal, currently operate nine locations together across the Philippines. As Imax continues to diversify its content offering across its global platform, the Philippines has emerged as one of the company's top performing Southeast Asian marketing in 2024 and has ranked among the top 30 highest grossing Imax markets globally since 2022.