Tag: Imax

‘Avatar 2’ Now Among Imax Top-Three All-Time Grossing Movies

Imax Corp. Jan. 17 announced that 20th Century Studios’ Avatar: The Way of Water is now the third-highest-grossing Imax release of all time with more than $215 million in global box office through Jan. 16 in its first full month of release.

With several weeks to go in its 3D theatrical engagement, director James Cameron’s sequel to his 2009 Avatar stands as the highest-grossing Imax release of all time in 44 countries and territories worldwide — claiming the top spot in more individual markets than any release in Imax history. The exhibitor has accounted for 11.2% of the film’s global $1.91 billion box office on only a fraction of total screens.

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“[The movie] is a global cultural event … and we are making the most of that opportunity,” Rich Gelfond, CEO of Imax, said in a statement.

Avatar: The Way of Water generated $139.3 million in international Imax ticket sales through Jan. 16, in addition to $75.7 million on screens in North America.

The movie continues to gain ground in China, where Imax screens have generated $47.6 million to date — good for 23% of the Chinese box office on only 1% of screens. The film’s run in China was extended through the Lunar New Year holiday, the perennial peak season for Chinese moviegoing.

The sequel will continue to play across Imax screens in most global markets into February.

Cameron and 20th Century Studios currently have three more films in the “Avatar” franchise planned through 2028.

Imax: ‘Avatar: The Way of Water’ Top-Grossing Movie in 2022

Imax Corp. Jan. 3 announced that Disney-owned 20th Century Studios’ Avatar: The Way of Water ended 2022 as its highest grossing release, with a global box office of $160 million through Jan. 2, 2023.

The James Cameron-directed sequel to 2009’s Avatar now stands as the fourth-highest-grossing Imax release of all time. The film is already the highest-grossing Imax release of all time in 18 markets worldwide, and the 3D exhibitor has delivered 11% of the global gross to date.

The Way of Water helped increase Imax’s global 2022 box office 33% to $848.5 million, from in $638 million 2021.

“Imax has emerged as the destination of choice for audiences worldwide to experience [the movie], resulting in a surge of momentum across our business — from system installs to sales activity to our business in China,” CEO Rich Gelfond said in a statement.

Through Jan. 2, The Way of Water had grossed $58 million across Imax screens domestically, with the exhibitor claiming 13.1% of North American grosses. Internationally, Imax has grossed $102 million — only the third Imax release ever to cross $100 million in international box office. In China, Imax has generated 24% of the total box office on only 1% of the Middle Kingdom’s screens.

The movie will screen across Imax screens in most global markets through this month. The film debuted with the widest Imax global release of all time across 1,543 screens and is available exclusively in Imax 3D in select locations worldwide.

‘Avatar: The Way of Water’ Tops $100 Million on Imax Screens

Imax announced that 20th Century Studios’ Avatar: The Way of Water has topped $105 million in global ticket sales in less than two weeks — the fastest film to hit the $100 million mark in the 3D format since April 2019. The James Cameron-directed sequel to the 2009 original Avatar is only the ninth film in Imax history to exceed $100 million in global box office. To date, the exhibitor has accounted for 11.4% of the film’s global gross.

The Way of Water also ranks as the film with the fifth highest Imax international box office performance, and the movie is already a top 10 all-time release in 47 countries worldwide. In China, the movie has generated $26.5 million in in Imax ticket sales — good for 25.5% of the movie’s total grosses in China on only 1% of screens.

“[The movie] is showing the strong endurance at the global box office we expected, particularly with its phenomenal performance internationally where several key markets grew their grosses over opening weekend,” Rich Gelfond, CEO of Imax, said in a statement.

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Through Dec. 26, The Way of Water had grossed $38 million on Imax screens in North America — 14% of the region’s grosses in its second weekend despite winter weather blanketing much of the United States. Internationally, the film has grossed $67.5 million, and it is already the highest-grossing Imax release of all time in several markets, including France, Indonesia and Turkey, among others.

The movie will play across Imax screens in most global markets through January. The film debuted with the widest Imax global release of all time across 1,543 screens and is also available in Imax 3D in select locations.

‘Avatar: The Way of Water’ Generates Second-Biggest Global Imax Opening of All Time

Imax Dec. 19 announced that director James Cameron’s sci-fi sequel, Avatar: The Way of Water, generated a $48.8 million global opening weekend in its theaters — the second-biggest Imax global opening of all time. The follow-up to the original 2009 Avatar also claimed Imax’s biggest December global opening of all time.

The 3D exhibitor accounted for 11.2% of the movie’s $435 million worldwide gross on just a fraction of total screens. The original Avatar is the highest-grossing film of all time in Imax.

Imax generated $16.5 million at the North American box office — 12.3% of total receipts. The Way of Water also heralded a return to form for Imax in China, where the exhibitor delivered a $15.8 million opening weekend. Imax delivered its biggest opening weekend marketing share ever in the Middle Kingdom, accounting for 27% of the total box office in China on only 1% of total screens in the market.

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“As excited as we are about these early results, we anticipate a long and successful run for  [the movie] as more people around the world book their ticket to Pandora,” Rich Gelfond, CEO of Imax, said in a statement.

Imax screens outside of China delivered $16.5 million in box office, with the film scoring the biggest Imax opening weekend of all time in 11 global markets, including India, Belgium, Czech Republic, Romania, Serbia, Switzerland, Turkey, Vietnam, Chile, Kazakhstan and New Zealand, where The Way of Water was filmed. In total, 41 international markets posted top five all-time Imax opening weekends.

The Way of Water debuted with the widest Imax global release of all time across 1,543 screens. The film will screen across the Imax network through January in most global markets.

Imax Names Daniel Manwaring CEO of China Operations

Imax Corporation Dec. 12 named Daniel Manwaring as CEO of Imax China, effective Jan. 9, 2023. He succeeds interim CEO Jiande Chen, who will return to his full-time role as vice chairman of Imax China.

Manwaring joins Imax from Creative Artists Agency (CAA), where he most recently led CAA China’s Motion Picture Group — a role in which he helped serve as a bridge to and within the local market to build out opportunities for clients across the globe, forging relationships throughout the Chinese film community. 

“Across his successful, decade-long tenure at CAA, Daniel has proved very adept at fostering blockbuster Chinese filmmaking that connects with audiences — a talent that will serve Imax well as we strengthen our unique position at the center of the entertainment ecosystem in China,” Rich Gelfond, CEO of Imax, said in a statement. 

Manwaring has been with CAA in China since 2012 and assumed his most recent role as head of CAA China’s Motion Picture Group in 2018, representing China filmmakers and leading CAA’s Media Finance in the region. Over the past four years, he’s put together more than a dozen local and Hollywood films for release in Chinese theaters. He also played a key role in architecting financing and distribution entities in the region.

Manwaring has been based in China since 2006 and is fluent in Mandarin. He received a dual degree in finance and Chinese from the University of Florida, he also has a degree in Chinese from Tsinghua University.

“Daniel’s expertise, creativity, and years of working with Chinese filmmakers, the China Film Bureau, and top film finance and distribution companies will be deeply valuable to Imax China as we look to grow our industry leadership in this powerful cinema market,” Gelfond said. 

Imax reported a net loss of $9 million on revenue of $68.8 million in its most-recent fiscal period.

Imax Posts Biggest November Movie Opening With ‘Black Panther: Wakanda Forever’

Imax Nov. 14 said it recorded its largest November movie opening with the $22.6 million debut across 26 markets for Disney/Marvel’s Black Panther: Wakanda Forever. The sequel generated $14.2 million across North American screens.

The sequel to the 2018’s Black Panther, starring the late Chadwick Boseman, generated $331 million globally across all screens in its debut, including $181 million in North American theaters.

Wakanda Forever was shot with Imax digital cameras and features select scenes with the exhibitor’s expanded aspect ratio. Black Panther: Wakanda Forever will continue to play on Imax screens through the end of November, including the Thanksgiving holiday in the United States, and in select markets into December. Disney-owned 20th Century Studios’ Avatar: The Way of Water, the long-awaited sequel to the highest grossing Imax film of all time — Avatar — debuts on Dec. 16.

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“Black Panther: Wakanda Forever has succeeded in delivering a poignant, unmissable sequel to the iconic original, while jumpstarting the global box office ahead of a strong blockbuster slate through 2023,” Rich Gelfond, CEO of Imax, said in a statement.

Internationally, Imax delivered $8.4 million in box office for Black Panther: Wakanda Forever and notched the biggest November opening weekend for Imax ever in international markets, including France, Germany, Switzerland, India, Hong Kong, Argentina and Colombia. Following the film’s African premiere Nov. 6 at the Filmhouse Lekki Imax in Lagos, Wakanda Forever also scored the biggest Imax opening weekend ever in Nigeria.

Imax Ups Q3 Revenue 21%, Net Loss Grows to $9 Million

Theatrical exhibitor Imax Oct. 31 reported a third-quarter (ended Sept. 30) net loss of $9 million, widened almost 7% from a net loss of $8.4 million in the previous-year period. Imax saw revenue increase 21% to $68.8 million from $56.6 million in the prior-year quarter.

Through the first nine months of the fiscal year, Imax has narrowed its net loss 22% to $25.4 million, from $32.4 million a year ago. Revenue has increased 39% to $202.8 million, from $146.3 million.

CEO Richard Gelfond

CEO Richard Gelfond attributed the revenue increase to the company’s diversified revenue model, including local-language movies, and acquisition of streaming technology company SSIMWAVE, enhancing its ability its branded screen images in the home.

“[We] demonstrated the strength of [our] differentiated model in the quarter to grow revenue, box office, and [pre-tax earnings] despite a temporary slowdown in the Hollywood pipeline,” Gelfond said in a statement.

The executive is eyeing “significant potential tailwinds” this quarter with the release of Black Panther: Wakanda Forever and Avatar: The Way of Water, the latter the long-awaited sequel to the highest grossing Imax film ($270 million) of all time.

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“In the short-term, SSIMWAVE is expected to generate incremental revenue and be accretive in 2023, and in the long-term open a new world of possibility for our image enhancement capabilities — across not only streaming and theatrical, but gaming, virtual reality (VR) and augmented reality (AR),” Gelfond said.

Imax: ‘Top Gun: Maverick,’ ‘Doctor Strange in the Multiverse of Madness,’ ‘Jurassic World Dominion’ Drive Q2 Fiscal Resurgence

High-resolution theatrical distributor Imax Corporation said the recent box office success Paramount Pictures’ Top Gun: Maverick, Disney/Marvel Studios’ Doctor Strange in the Multiverse of Madness, and Universal Pictures’ Jurassic World Dominion contributed to second-quarter (ended June 30) revenue of $247.7 million, compared with $108.6 million in revenue in the previous-year period.

The distributor said the increased revenue and audience engagement reduced the Q2 net loss to $2.9 million from $9.2 million during the same period a year ago.

“Imax is playing a leading role in the global resurgence in moviegoing,” CEO Richard Gelfond said in a statement. “In fact, our second-quarter results in North America were on par with our record-breaking 2019.”

Gelfond said he was encouraged by the distributor’s three consecutive $25 million-plus global box office openings for the first time in its history. The executive said he believes upcoming theatrical releases such as Brad Pitt’s Bullet Train, Dwayne Johnson’s Black Adam, Black Panther: Wakanda Forever and Avatar: The Way of Water will drive big-screen ticket sales going forward.

“We continue to enhance and diversify our content portfolio with Hollywood blockbusters, more of which feature Imax DNA technology; local languages across a growing international footprint; documentaries; and live events,” Gelfond said. “We are focused on driving future growth for the company across our global network, content portfolio, and technology platform.”

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Odeon, Imax Expand European Theatrical Distribution Deal

AMC Theatres-owned Odeon Cinemas Group and Imax Corporation June 20 announced an expansion of their longstanding partnership spanning key European cinema markets. Under the agreement, Odeon will upgrade six Imax screens across the U.K. with “Imax with Laser” systems.

Additionally, the two exhibitors have set locations for nine previously contracted new theaters across Europe, including four new locations in Spain, two in Italy, and one in each of Germany, Sweden and the U.K. All new locations will be installed by 2025.

The announcement was made today at the annual CineEurope convention in Barcelona, Spain.

“We have been encouraged by the [number] of guests returning, seeking the most immersive experience possible, and we look forward to the rest of the year with confidence, buoyed by a range of great films to show them,” Mark Way, president of AMC Europe and managing director Odeon Cinemas Group, said in a statement.

“As we grow market share around the world, Imax continues to grow, diversify, and enhance its global network, and this new agreement with our longstanding partners at Odeon further accelerates our momentum,”Rich Gelfond, CEO of Imax, said in a statement.

Odeon and Imax have a longstanding partnership spanning nearly 15 years. Odeon opened its first Imax screen in 2008, and the two companies signed an agreement for 25 Imax screens in 2017 — which still stands as Imax’s largest European theater agreement. Odeon is currently Imax’s largest partner in Europe, with 34 theaters currently in operation, and an additional 11 new locations will be installed by 2025. Four of Imax’s top five highest grossing locations in Europe are in Odeon cinemas.

Imax with Laser is the exhibitor’s most advanced 4K laser projection system, featuring a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast and the widest range of colors.

Imax Touts 80 Million Disney+ Sub Access, Narrows Fiscal-Year Loss

High-definition exhibitor Imax Feb. 23 said business is almost back to pre-Covid 2019 days, as box office revenue increased 86% to $255 million in fiscal 2021 (ended Dec. 31), from $137 million in 2020. The fiscal loss declined nearly 85% to $22.3 million, from $143.8 million in 2020.

The exhibitor’s fourth quarter was highlighted by its strongest quarterly results since 2019 across key financial metrics, including: revenue growth of 94% to $108.6 million; improvement in net income to $10.1 million versus a loss of $21.2 million in the prior-year period.

Notably, the quarterly results met or exceeded pre-pandemic levels across key metrics. Imax delivered operating income, global box office and gross margin in the fourth quarter of 2021 that exceeded the fourth quarter of 2019.

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Separately, Imax lauded the availability of its “enhanced” movies on more than 80 million Disney+ approved devices. Imax Enhanced content on Disney+ features an expanded aspect ratio of 1.90:1, which allows viewers to see up to 26% more of the original image and experience the full scale and scope of the picture. This differs from most movies where the picture appears wide but does not take up the full height of the TV screen. Some movies only have select-sequences filmed in Imax’s expanded aspect ratio.

“In the fourth quarter alone, Imax turned in a dominating performance at the global box office, launched a major streaming partnership with Disney+, and created a series of exclusive events connecting theatrical and streaming in a way that few brands can,” CEO Richard Gelfond said in a statement.

“The fact that Imax is driving results at or above what we achieved in 2019 — which was by many measures, our best year ever — reaffirms that we are not an exhibitor and have moved beyond recovery mode,” Gelfond said. “With strong a balance sheet that affords us security and capital allocation flexibility, we are well-positioned to capitalize on our momentum and continue to evolve and grow our business.”