SM Cinema, the largest exhibitor in the Philippines, and IMAX have pacted for a significant expansion to their longstanding partnership with 10 IMAX with Laser systems in the market. The deal more than doubles IMAX’s footprint in the market and 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. 

IMAX and SM Cinema have been in business since 2006. Excluding this deal, they currently operate nine locations together across the Philippines. The market has emerged as one of IMAX’s top performing Southeast Asian hubs in 2024 and has ranked among the top 30 highest grossing IMAX markets globally since 2022. 

As audiences increasingly seek out IMAX, the company has been on an offshore expansion spree in recent months. The large format exhibitor reported Q1 earnings last week with a solid bump. Global box office of $261M marked its third highest grossing Q1 ever.

Said IMAX CEO Rich Gelfond, “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. 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.”

Added SM Supermalls President Steven T. Tan, “The inclusion of the Philippines in the discourse underscores its growing significance in the global entertainment landscape, affirming SM Supermalls’ goal in shaping the industry’s future.”