IMAX Crowns "Avatar: The Way of Water" as its Highest Grossing Film of 2022, With $160 Million and Counting

Rhea-AI Summary

IMAX Corporation (NYSE: IMAX) announced on January 3, 2023, that "Avatar: The Way of Water" became its highest-grossing film of 2022, generating $160 million at the global IMAX box office. The film ranks as the fourth highest-grossing IMAX release ever and has topped the box office in 18 markets. IMAX's total global box office for 2022 reached $848.5 million, a 33% increase from 2021, aided by the installation of 92 systems worldwide. IMAX enjoys significant market share in both domestic and international markets for this title, particularly in China.

Positive

• Highest-grossing film of 2022 in IMAX with $160 million.
• Total global IMAX box office increased by 33% to $848.5 million.
• Installed 92 new systems, the highest total since 2019.
• Achieved 13.1% of North American grosses for 'Avatar: The Way of Water'.
• In China, IMAX earned 24% of the total box office with only 1% of screens.

Negative

• None.

James Cameron's Smash Hit Now a Top Five IMAX Release of All Time

NEW YORK, Jan. 3, 2023 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) today announced that Disney/Lightstorm's "Avatar: The Way of Water" ended 2022 as the highest grossing release of the year in IMAX®, and that its total IMAX global box office is $160 million and counting through Monday. James Cameron's sci-fi sequel 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 eighteen markets worldwide, and IMAX has delivered 11% of the film's global gross to date on just a fraction of total screens.

The stunning success of "Avatar: The Way of Water" helped lift IMAX to $848.5 million in global box office for the year, up 33% over 2021. IMAX also installed and upgraded approximately 92 systems around the world in 2022 — its highest total since 2019.

"IMAX has emerged as the destination of choice for audiences worldwide to experience 'Avatar: The Way of Water', resulting in a surge of momentum across our business — from system installs to sales activity to our business in China," said Rich Gelfond, CEO of IMAX. "We expect 'Avatar: The Way of Water' to continue its strong run and propel our business into the new year with a phenomenal slate of blockbuster releases ahead."

Through Monday, "Avatar: The Way of Water" had grossed $58 million in IMAX domestically, with IMAX claiming 13.1% of North American grosses. Internationally, IMAX has grossed $102 million with "Avatar: The Way of Water" — only the third IMAX release ever to cross $100 million in international box office. IMAX continues to dominate the film's box office performance in China, where IMAX has earned 24% of the total box office on only 1% of screens.

"Avatar: The Way of Water" will screen across IMAX locations in most global markets through January. The film debuted with the widest IMAX global release of all time across 1,543 screens and is available exclusively in IMAX 3D in IMAX locations worldwide.

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 theaters 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.  Streaming technology company SSIMWAVE, an IMAX subsidiary, is a leader in AI-driven video quality solutions for media and entertainment companies.

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2022, there were 1,703 IMAX theater systems (1,622 commercial multiplexes, 12 commercial destinations, 69 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® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX Enhanced™, IMAX nXos®, SSIMWAVE® and Films to the Fullest®, are trademarks and trade names of the Company 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), Twitter (www.twitter.com/imax), YouTube (www.youtube.com/imaxmovies) and LinkedIn (www.linkedin.com/imax).

For additional information please contact:

Investors: IMAX Corporation, New York Jennifer Horsley 212-821-0154 jhorsley@imax.com

Media:  IMAX Corporation, New York Mark Jafar 212-821-0102 mjafar@imax.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/imax-crowns-avatar-the-way-of-water-as-its-highest-grossing-film-of-2022-with-160-million-and-counting-301712294.html

SOURCE IMAX Corporation

FAQ

What are the box office earnings of Avatar: The Way of Water in IMAX?

Avatar: The Way of Water earned $160 million globally in IMAX.

How much did IMAX's total box office increase in 2022?

IMAX's total global box office increased by 33% to $848.5 million in 2022.

What position does Avatar: The Way of Water hold in IMAX's all-time grossing films?

Avatar: The Way of Water is now the fourth highest-grossing IMAX release of all time.

What percentage of North American grosses for Avatar: The Way of Water came from IMAX?

IMAX claimed 13.1% of the North American grosses for Avatar: The Way of Water.

How many new systems did IMAX install in 2022?

IMAX installed 92 new systems worldwide in 2022.