Hoyts Cinema's IMAX plans for New Zealand
As Gen Z helps drive up box office sales, the Hoyts cinema chain has plans to roll out IMAX with Laser cinemas in this country.
Hoyts Cinema, a major cinema chain operator in New Zealand and Australia, is set to enhance its IMAX offerings in the country. This move comes as a surprise to the industry, as blockbusters like Christopher Nolan's The Odyssey and independent films such as Backrooms and Obsession have been driving sales. Damien Keogh, the CEO of Hoyts Group, believes that the year has been the best in terms of box office sales since the Covid-19 pandemic.
The younger generation, who spend significant time online, are now seeking social interaction, and Hoyts aims to provide that through its immersive cinema experience. The company plans to introduce IMAX with Laser technology in New Zealand, along with 12 new ScreenX auditoriums across Australia and New Zealand. These upgrades come as a response to the challenges faced by the cinema business, including Covid-19, writers' strikes, and the rise of streaming platforms.
Hoyts remains optimistic that the sector will recover, stating that their cinemas are a counter-cyclical, affordable entertainment option during tough economic times.
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