Historic Results Led by Company's Highest
Grossing Year Ever at the Domestic Box Office with $393 Million
NEW
YORK, Jan. 9, 2024 /PRNewswire/ -- IMAX
Corporation (NYSE: IMAX) soared to $1.06
billion in global box office in 2023 — the second highest
grossing year in the Company's history — powered by a diverse
portfolio of awe-inspiring experiences across Hollywood and local language films, concerts,
and live events*.
IMAX drove 24.4% growth in global box office over 2022 and
programmed a record 98 new films worldwide in the year.
Christopher Nolan's "Oppenheimer" —
the Filmed for IMAX epic that took home five awards during
Sunday's Golden Globes — was the top grosser with $183.2 million. The IMAX global technology
platform further distinguished itself from exhibitors in 2023, as
IMAX global box office increased 2% over its 2017-2019 average
compared to an estimated -21% decline for exhibitors
worldwide**.
"From 'Oppenheimer' to Taylor
Swift to releases from across China, India,
and Japan, IMAX delivered more
awe-inspiring experiences from more creative partners in 2023,
resulting in one of our best years ever," said Rich Gelfond, CEO of IMAX. "We will continue to
push the envelope with our technology to make the impossible feel
real for audiences around the world, and drive future growth for
our company."
IMAX's strong results in 2023 were driven by record-breaking
performances at the North American box office and grosses from
local language films worldwide. With $393
million in box office receipts, 2023 was IMAX's highest
grossing year ever at the domestic box office. IMAX also recorded a
best-ever $227 million in local
language box office from films across China, India,
and Japan as well as new studio
partners in Indonesia and
Thailand.
For the first time ever, IMAX expects to program more than 100
films, experiences, and events globally in 2024, including highly
anticipated blockbusters "Dune — Part Two", "Despicable Me 4",
"Joker: Folie à Deux," "Deadpool 3", and "Wicked", as well as
experiences including this month's IMAX exclusive "Queen Rock
Montreal".
Global Network Growth
The Company's strong box office performance led to robust sales
activity for IMAX, as it recorded 129 signings for new and upgraded
IMAX systems worldwide — including its best Q4 since 2015 with 35
signings. IMAX completed 41 different sales agreements with 36
exhibition partners across 26 territories worldwide in 2023. The
Company delivered the highest number of signings ever in priority
growth markets including France,
Thailand, Indonesia, and Malaysia. Several key regions saw the
strongest sales activity in at least five years, including
North America (2018), Europe (2017), and Latin America (2014).
*All global box office figures exclude booking fees in
China; including booking fees IMAX
2023 GBO is $1.09B
**2023
Worldwide Global Box Office Estimate from Gower Street
Analytics
About IMAX Corporation
IMAX, 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 systems to connect with audiences in extraordinary ways,
making IMAX's network among the most important and successful
theatrical distribution platforms for major event films around the
globe.
IMAX is headquartered in New
York, Toronto, and
Los Angeles, with additional
offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2023, there were 1,731 IMAX systems
(1,651 commercial multiplexes, 12 commercial destinations, 68
institutional) operating in 87 countries and territories. Shares of
IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade
on the Hong Kong Stock Exchange under the stock code
"1970."
IMAX®, IMAX® 3D, Experience It In
IMAX®, The IMAX Experience®,
DMR®, Filmed For IMAX®, IMAX LIVE™, and IMAX
Enhanced® are trademarks and trade names of IMAX
Corporation or its subsidiaries that are registered or otherwise
protected under laws of various jurisdictions. For more
information, visit www.imax.com. You may also connect with
IMAX on Instagram (www.instagram.com/imax), Facebook
(www.facebook.com/imax), LinkedIn (www.linkedin.com/company/imax),
X (www.twitter.com/imax), and YouTube
(www.youtube.com/imaxmovies).
For additional information please contact:
Investors:
Jennifer
Horsley
jhorsley@imax.com
Media:
Mark Jafar
mjafar@imax.com
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SOURCE IMAX Corporation