Quite Possibly The Coolest Theatre Anywhere!

This is in Thailand for the Film on the Rocks Yao Noi, a Film Festival. 
The venue is called the Archipelago Cinema.

A giant modular raft was constructed to hold the audience. It is anchored to the bottom of the lagoon.

The massive display and projector are secured more firmly to the bottom of the bay.

Showings only take place during the evening, and special ambient lighting is used to bring the surrounding island scenery to life.

Source: Tecca
http://www.tecca.com/news/2012/03/29/film-on-the-rocks-yao-noi-archipelago-cinema/