Magazine article Variety

Imax, Saudis Partner Up

Magazine article Variety

Imax, Saudis Partner Up

Article excerpt

IMAX and saudi Arabia's General Culture Authority have signed a non-binding agreement to jointly seek opportunities to identify and develop local Imax-format films in the kingdom.

Under the non-exclusive pact, unveiled Saturday, the partners will seek opportunities to help Saudi studios and directors release films with cross-border appeal and potentially tap into the Imax global distribution platform to export their films to non-Arabic markets. Imax has successfully implemented this approach in markets such as China and India, where it remasters and distributes local-language blockbusters both in-country and to its wider global network.

The agreement is part of the Saudi culture authority's efforts to develop a dynamic and sustainable domestic film industry.

"I expect to have 20 to 30 theaters there in three to five years, which would be our biggest territory in the Middle East," Imax CEO Rich Gelfond told Variety on Friday. …

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