IMAX Corporation IMAX further strengthened its partnership with Paramount Pictures by signing a five-picture deal. IMAX’s latest deal with this Viacom, Inc. VIAB unit is expected to provide movie enthusiasts with a better film-watching experience
The five-picture agreement will consist of future offerings by Paramount. These include the fifth film from the critically acclaimed franchise – Transformers: The Last Knight as well as the movie God Particle. These apart, Paramount, DreamWorks Pictures and Reliance Development Co. LLC collaboration – Ghost in the Shell – is also part of the deal. The other two movies under the scope of the agreement are Ben-Hur and Jack Reacher: Never Go Back. While Paramount has collaborated with Metro-Goldwyn-Mayer Pictures for Ben-Hur, it has joined forces with Skydance for the soon-to-be-released action-thriller sequel Jack Reacher: Never Go Back.
IMAX and Paramount have a history of delivering movies that were highly successful at the box office. Paramount plans on attracting more customers through the IMAX experience of digitally enhanced sound and image effects. IMAX too is expected to benefit from the partnership as Paramount movies tend to attract crowds in bulk with their popularity.
Global Expansions
IMAX has been focusing on global expansion through multiple theatre and movie deals. Recently, it signed a five-theatre deal with Cineplex Group to solidify its presence in Europe and a twenty-five theatre deal with AMC Entertainment Holdings Inc. AMC for expansion in the U.S. In addition, the company’s China division – IMAX China – has entered into numerous agreements with some of the popular theatres in China to offer the IMAX Experience in one of the fastest growing markets.
Zacks Rank and a Stock to Consider
IMAX currently carries a Zacks Rank #4 (Sell). Investors interested in the consumer entertainment sector can consider a better-ranked stock like MSG Networks MSGN, which holds a Zacks Rank #2 (Buy).
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