Other IMAX Home Theatre Initiatives
IMAX is undertaking new lines of business, particularly in the area of in-home theatre entertainment. In 2013, the company announced two new initiatives in the area of in-home entertainment, including a joint venture with TCL Multimedia Technology Holding Limited to design, develop, manufacture and sell a premium home theatre system that is smaller and less expensive than the IMAX Private Theatre. IMAX and TCL expect to launch the new home theatre system, which will incorporate components of IMAX’s projection and sound technology adapted for a broader home environment as well as PRIMA technology, in China and other select global markets in 2015. In April 2014, IMAX, TCL and Wasu Digital TV media group announced a joint-venture partnership whereby WASU will license and distribute IMAX-enhanced Hollywood and Chinese current theatrical and other content to the new home theatre system.
New IMAX Original Film Fund
In the second quarter of 2014, the company announced the creation of the IMAX Original Film Fund to co-finance a portfolio of 10 original large-format films. The Film Fund, which is intended to be capitalized with up to $50 Million, will finance an ongoing supply of original films that IMAX believes will be more exciting and compelling than traditional documentaries. The initial investment in the Film Fund was committed to by a third party in the amount of $25 Million, with the possibility of contributing additional funds. IMAX, which will contribute $9 Million to the Film Fund over five years, anticipates the Film Fund will be self-perpetuating, with a portion of box office proceeds reinvested into the Film Fund to generate a continuous, steady flow of high-quality documentary content. Home theatre enthusiasts always love to see new content for their systems and this fund will help to keep that content flow going. IMAX will be presenting more on the Private Theatre at the 2014 Toronto Audio Video Entertainment Show, October 31 – November 2, 2014 (www.TAVEShow. com). We hope to see you there.