NEW YORK and SHANGHAI, Oct. 4,
2020 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) today
announced that the company scored a record-breaking $13 million opening weekend of the National Day
Golden Week holiday in China, a
historically strong box office period that runs from October 1 to 8 this year. The figure marks IMAX's
best-ever opening weekend for the National Holiday, up 25% over
last year despite a 75% capacity limitation across the country.
Films playing in the IMAX China network for the holiday include
Enlight's "Jiang Ziya: Legend of
Deification," Beijing Culture's "My
People, My Homeland," Tencent's "Vanguard" and Lian Ray
Picture's "Leap." The films will continue to play in IMAX through
the holiday for a total of three weeks.
The weekend was highlighted by the stunning debut of
"Jiang Ziya: Legend of Deification,"
which earned $11.5 million in IMAX —
accounting for 7.5% of the overall box office on only 1% of total
screens. The animated feature set several new records in IMAX,
including biggest opening weekend ever for an animated film in
China, best October opening
weekend ever for a local language film, and biggest opening weekend
for the National Holiday. "Jiang
Ziya" also now holds IMAX's second best opening weekend ever
for a local language film, behind only 2019's "The Wandering
Earth."
"The remarkable strength of the box office recovery in
China continues to exceed our
expectations, and the country has emerged as an engine of stability
for IMAX as uncertainty persists around the Hollywood slate and theatres re-openings
elsewhere in the world," said Rich
Gelfond, CEO of IMAX. "With our strong balance sheet, IMAX
continues to be well-positioned in these challenging times and we
are and leaning into our unique global footprint — with no fewer
than ten new local language releases across key markets like
China and Japan through the end of the year."
IMAX has now grossed $53.2 million
dollars at the box office in China since theatres began to reopen in late
July. The company has helped lead the Chinese theatrical industry
in its recovery, with 97% its theatre network in China now reopened and average weekly
attendance reaching 80% of the level seen in the second half of
2019, despite capacity limitations. Nine of the top ten grossing
multiplexes in China since the
reopening include IMAX screens.
IMAX's strong rebound in China
is led by "The Eight Hundred," the first Asian film shot entirely
with IMAX cameras, which earned $17 million
dollars for the company and currently stands as the highest
grossing film of the year overall. IMAX has drawn exceptionally
high market share in China despite
accounting for only 1% of screenings, including opening weekend box
office share of 18% for "Tenet," 7% for "Mulan," and 6% for "The
Eight Hundred."
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:
Investors:
IMAX Corporation, New
York
Brett
Harriss
+1-212-821-0187
bharriss@imax.com
IMAX China,
Shanghai
Karen Chan
+86-21-2315-7158
kchan@imax.com
|
Media:
IMAX Corporation, New
York
Mark Jafar
+1-212-821-0102
mjafar@imax.com
IMAX China,
Beijing
Frances Fu
+86-21-2315-7162
ffu@imax.com
|
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SOURCE IMAX Corporation