Regal Cinemas To Add 31 Imax Screens

The Regal Entertainment Group, which owns the nation’s largest movie theater chain, will add 31 new Imax screens to it's theaters. Regal will share the cost of installation and revenue with the Imax Corporation but they decline to give any specifics of the business arrangement. Regal's primary competitor, AMC Theaters, announced a similar deal with Imax in December. This will double the current count of Imax screens in the United States from 150 to over 300 by 2010.
These deals attempt to combat the decade-long boom in home entertainment. Even though last year saw a record $9.6 billion in ticket sales in the US and Canada, theatrical attendance was flat with the same 1.4 billion attendees from 2006. Meanwhile, the home theater experience is getting better with widescreen HDTVs, high definition movies, and increased choice in entertainment options making staying at home a more attractive option.

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