First-Time Participation in the Event Highlighted by Two Best of Show Awards
TORONTO, Sept. 22, 2023 - IMAX Corporation (NYSE: IMAX) made an award-winning debut at the 2023 International Broadcasting Convention (IBC) in Amsterdam this week. The Company nabbed two Best of Show Awards for its Stream Smart™ product from leading industry publications – TVB Europe and TV Technology – bringing to life its vision of extending the IMAX focus on quality to wherever fans stream content.
In an opening day press conference with media and analysts, IMAX Executives Vikram Arumilli, Senior Vice President and General Manager, Streaming and Consumer Technology and Dr. Abdul Rehman, Chief Product Officer, outlined the global strategy for Stream Smart™, which was the centerpiece of the IMAX showcase. Dr. Hojatollah Yeganeh, principal video architect and research lead, presented an IBC Technical Paper at the "Advances in Video Coding and Processing" session.
"At IMAX, we believe that creators deserve to have their artistic visions faithfully preserved across every screen, and that fans deserve to experience blockbuster entertainment as it was meant to be seen. Our Stream Smart technology enables streamers to meet the needs of creators and consumers while reducing costs dramatically, and we're thrilled that this powerful technology was recognized with two awards at IBC," said Arumilli.
Stream Smart™ helps streamers encode smarter and save millions of dollars in delivery costs, bridging the widening gap between rising costs and slowing subscriber growth by controlling CDN bandwidth costs without impacting the viewer experience. Stream Smart™ software overlays on existing workflows to analyze and optimize every frame of video for best picture quality and compression efficiency. It reduces bandwidth by 20% on average while maintaining video quality with minimal workflow changes.
The hallmark of the IBC show is the Technical Papers Programme. This year's theme was to uncover original solutions for the real-world problem of streaming higher quality, faster and cheaper. IMAX's Dr. Yeganeh presented a study on preserving film grain and keeping filmmakers' vision intact within computing and network constraints using advanced coding and processing.
During four days at the Amsterdam RAI, IBC hosted more than 1,200 exhibitors and attracted more than 43,000 attendees, an increase of 16 percent over 2022 attendance. A truly global event, IBC was the focal point of media and entertainment technology and business discussion for guests from 170 countries.
About IBC
Delivering innovation and empowering people, IBC is where the future of the global Media and Entertainment industry is defined and actioned. Energising the market, enabling content everywhere and inspiring new conversations, IBC brings the creative, technology and business communities together to collaborate, learn and unlock new opportunities. With a focus on inclusivity, IBC propels change – driving thought leadership, sparking discussion, shifting expectations, accelerating creativity, and enabling real business outcomes. IBC's mission is to empower our 250,000- strong global community to explore new opportunities, build knowledge, and play an active role in the technological transformation and broader change sweeping the industry worldwide. Learn more at www.ibc.org.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2023, there were 1,718 IMAX systems (1,638 commercial multiplexes, 12 commercial destinations, 68 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."
IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX Enhanced™, IMAX nexus®, SSIMWAVE®, and Films to the Fullest®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com. You may also connect with IMAX on Instagram (www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax), YouTube (www.youtube.com/imaxmovies), and LinkedIn (www.linkedin.com/imax).
For additional information please contact:
Investors:
Jennifer Horsley
jhorsley@imax.com
212.821.0154
Media:
Mark Jafar
mjafar@imax.com
212.821.0102
SOURCE IMAX Corporation
