NEW YORK, Aug. 30, 2020 /PRNewswire/ -- IMAX Corporation
(NYSE: IMAX) today announced that Warner Bros. Pictures and
Christopher Nolan's "Tenet" surged
to a better-than-expected start in IMAX, with an estimated
$5 million in international box
office from only 248 theaters worldwide.
IMAX theatres generated a per screen average of approximately
$20K — about 7.5 times the estimated
overall per screen average — even with an average 50% seating
capacity limitation throughout the world. IMAX also delivered
9.4% of overall box office despite accounting for less than 1%
of total screens. "Tenet" opened in IMAX across all 38 available
markets worldwide and continues its global rollout this week with
at least 900 additional IMAX theatres across the United States, China and Russia.
"The strong international debut of Christopher Nolan's 'Tenet' is an emphatic
statement that audiences around the world are ready to return to
theatres where it is safe," said Rich
Gelfond, CEO of IMAX. "It is clear that people want to
experience immersive entertainment like 'Tenet' in a communal,
celebratory way beyond their living rooms, and this film is a
jumpstart for the theatrical business with an exciting film slate
ahead."
Sellouts and Per Screen Averages
IMAX reported hundreds of sold-out shows across all markets and
many of the company's flagship locations were sold out all
weekend, including the BFI in London, Krung Sri Paragon in Bangkok, CGV's Yongsan in Seoul, Filmstaden Mall of Scandinavia in
Stockholm, Cinemaxx in
Copenhagen, VOX Red Sea Mall in
Jeddah, Miramar in Taipei, and Toronto's Cinesphere at Ontario Place.
Per screen averages reached pre-COVID blockbuster levels in many
key markets, including Denmark
($73K), Norway ($64K),
Saudi Arabia ($55K), Finland
($42K) and Sweden ($38K,
despite a 50-person capacity limitation per show).
IMAX Share of Box Office
Filmed using IMAX cameras, "Tenet" continues the successful
collaboration between filmmaker Christopher
Nolan and IMAX. IMAX's 9.4% share of box office was
comparable to international opening weekend's for Nolan's most
recent films, "Dunkirk" (12.6%)
and "Interstellar" (9.6%).
In fact, "Tenet" had a bigger opening than "Dunkirk" in 11 markets worldwide, and bigger
than both "Dunkirk" and
"Interstellar" in in key markets including France, Germany, Switzerland, Austria, Turkey, Taiwan and Malaysia. 'Tenet' will play for an extended
run of at least three weeks in IMAX in most markets.
UK and Canada
The UK was the top grossing IMAX market this weekend for
"Tenet," earning $900K — the second
highest August opening weekend ever for IMAX in the UK behind
2016's "Suicide Squad." Even with a 50% capacity limitation,
the IMAX gross trailed the UK opening weekend of "Interstellar" by
only 25%. Even Canada — which
limited seating capacity to just 50 people per show — delivered an
impressive $10K per screen
average.
"'Tenet' is a reminder of the enduring power of the theatrical
experience, and audiences worldwide turned out for the film in a
big way," continued Gelfond. "The performance of 'Tenet' in the UK
and Canada despite significant capacity limitations is a positive
sign for the film's performance in the U.S., given the way these
markets often align at the box office."
Top Markets and Screens
IMAX's top five international markets and screens for the
weekend debut of "Tenet" include:
Top 5 IMAX Markets (not including Canada):
- UK
- South Korea
- France
- Taiwan
- Netherlands
Top 5 IMAX Screens:
- BFI, London
- CGV Yongsan, Seoul
- Cinemaxx, Copenhagen
- VOX Red Sea Mall, Jeddah
- Miramar Da-Zhi, Taipei
John David Washington is the new
Protagonist in Christopher Nolan's
original sci-fi action spectacle "Tenet." Armed with only one
word—Tenet—and fighting for the survival of the entire world, the
Protagonist journeys through a twilight world of international
espionage on a mission that will unfold in something beyond real
time. Not time travel. Inversion.
"Tenet" is the latest of Nolan's trailblazing films also
shot with IMAX cameras including "Dunkirk," "Interstellar," "The Dark
Knight" and "The Dark Knight Rises."
Nolan designed "Tenet" with IMAX in mind – capturing the film
with IMAX cameras, among the highest-resolution cameras in the
world, and also refining the film throughout post-production in an
IMAX theatre to further optimize how audiences will experience the
film in IMAX. Exclusively in IMAX theatres, sequences shot with
IMAX cameras will visually expand to fill the entire screen,
allowing moviegoers to experience more of the image with
unprecedented crispness and clarity. That combined with next
generation IMAX precision sound, creates a truly immersive
experience.
Select IMAX theatres will be offering The IMAX Experience®
featuring 15 perf/70mm film projection which combines the
brightest, clearest images at almost 10 times the resolution of
standard film projection, with powerful, laser-aligned digital
sound and customized theatre geometry to create the world's most
immersive movie experience.
About IMAX Corporation
IMAX Corporation, 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 theatres to connect with
audiences in extraordinary ways, and, as such, IMAX's network is
among the most important and successful theatrical distribution
platforms for major event films around the globe.
IMAX Corporation is headquartered in New York, Toronto and Los
Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March
31, 2020, there were 1,616 IMAX theatre systems (1,526
commercial multiplexes, 14 commercial destinations, 76
institutional) operating in 81 countries and territories. On
October 8, 2015, shares of IMAX
China, a subsidiary of IMAX Corporation, began trading on the Hong
Kong Stock Exchange under the stock code "1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX
nXos® are trademarks of IMAX Corporation. More information about
IMAX Corporation can be found at www.imax.com. You may also connect
with IMAX on Facebook (www.facebook.com/imax), Twitter
(www.twitter.com/imax) and YouTube
(www.youtube.com/imaxmovies).
For more information, please contact:
Media:
IMAX Corporation, New York
Mark Jafar
mjafar@imax.com
Investors:
IMAX Corporation, New York
Brett Harriss
bharriss@imax.com
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SOURCE IMAX Corporation