Imax acquires equity stake in startup Prima Cinema

The giant screen exhibitor has invested in the tech startup that delivers first-run theatrical films to private home theatres.
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Imax has taken an ownership stake in startup Prima Cinema, which has technology to allow consumers to privately screen current Hollywood releases in their home on a day-and-date basis.

As Toronto-based Imax looks to expand into the home theater market, the giant screen exhibitor has invested in Prima Cinema, whose proprietary systems transmit current theatrical releases from Hollywood studios in an encrypted, location-sensitive fashion for secure home viewing.

“In addition to using Prima Cinema in our Imax private theatre systems, we are also exploring ways to integrate Imax’s proprietary technology and Prima Cinema’s delivery system into other premium in-home applications,” Imax CEO Richard Gelfond said Monday in a statement.

The San Diego-headquartered tech startup offers technologies to deliver Hollywood films to private home theatre simultaneous with the box office release.

The Prima Cinema offering promises Blu-ray quality playback and capacity for 3D features, a hallmark of Imax offerings at the local multiplex.

As part of the agreement, Imax will receive a five-year window of exclusivity to distribute and resell Prima systems in China.

Image via Prima Cinema