IMAX Delivers Second Biggest Global Opening of All Time with Massive $48.8 Million Debut of James Cameron's "Avatar: The Way of Water"

Rhea-AI Summary

IMAX Corporation reported a remarkable achievement with the global opening of "Avatar: The Way of Water," which amassed $48.8 million in its opening weekend. This marks the second-largest IMAX global opening ever and the biggest December opening for IMAX. The film accounted for 11.2% of the film's worldwide gross, with notable contributions from both North America ($16.5 million) and China ($15.8 million). IMAX's share of the Chinese box office reached a record 27%, solidifying its strong market presence.

Positive

• Achieved the second-largest IMAX global opening with $48.8 million.
• Made history with the biggest IMAX December opening ever.
• IMAX contributed 11.2% to the film's worldwide gross.
• North America generated $16.5 million, representing 12.3% of total receipts.
• In China, IMAX earned $15.8 million with a record 27% of the box office.
• IMAX had its biggest opening weekend market share ever in China.

Negative

• None.

IMAX Global Network Delivers 11.2% of the Film's Worldwide Gross, Including Record-Breaking 27% of the Box Office in China

"Avatar: The Way of Water" Claims Crown as Biggest IMAX December Global Opening Ever

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) today announced that moviegoers returned to Pandora in droves with James Cameron's groundbreaking sci-fi sequel "Avatar: The Way of Water" delivering a massive $48.8 million global opening weekend in IMAX theaters — the second biggest IMAX global opening of all time. Disney/Lightstorm's "Avatar: The Way of Water" also claimed IMAX's biggest December global opening of all time.

IMAX built on its historic legacy with this one-of-a-kind franchise, racking up an outsized 11.2% of the film's worldwide gross on just a fraction of total screens. The original "Avatar" is the highest grossing film of all time in IMAX.

The North American box office led the way, where IMAX delivered $16.5 million in Domestic box office — 12.3% of total receipts. "Avatar: The Way of Water" also heralded a return to form for IMAX in China, where the Company delivered a $15.8 million opening weekend. IMAX delivered its biggest opening weekend marketing share ever in China, accounting for 27% of the total box office in China on only 1% of total screens in the market.

"'Avatar: The Way of Water' is a watershed achievement in filmmaking innovation and technology, and it's clear that global audiences are choosing to see this film through the best technology for blockbuster entertainment in the world: IMAX," said Rich Gelfond, CEO of IMAX. "As excited as we are about these early results, we anticipate a long and successful run for 'Avatar: The Way of Water' as more people around the world book their ticket to Pandora for the epic storytelling and unmissable visual splendor of what James Cameron and his team have created."

International IMAX screens outside of China delivered $16.5 million in box office with "Avatar: The Way of Water". The film scored the biggest IMAX opening weekend of all time in diverse collection of 11 global markets, including India, Belgium, Czech Republic, Romania, Serbia, Switzerland, Turkey, Vietnam, Chile, Kazakhstan, and New Zealand, where "Avatar: The Way of Water" was filmed and IMAX recently opened its first theatre in the city of Wellington. In total, 41 international markets posted top five all-time IMAX opening weekends.

Gelfond continued, "From our record-breaking results with the first 'Avatar' to our outsized market share with its recent re-release, we believe there is powerful data to suggest that 'Avatar: The Way of Water' will have strong legs at the global box office for IMAX and that fans will be filling our theatres for this one-of-a-kind cinematic experience well into the new year."

"Avatar: The Way of Water" 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. The film will screen across the IMAX network through January in most global markets.

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

 

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SOURCE IMAX Corporation

FAQ

What was the global opening revenue of 'Avatar: The Way of Water' for IMAX?

The global opening revenue for 'Avatar: The Way of Water' in IMAX theaters was $48.8 million.

How did IMAX perform in the Chinese box office for 'Avatar: The Way of Water'?

IMAX accounted for 27% of the total box office in China for 'Avatar: The Way of Water', earning $15.8 million.

What percentage of the film's worldwide gross did IMAX contribute?

IMAX contributed 11.2% to the worldwide gross of 'Avatar: The Way of Water'.

What was IMAX's domestic box office revenue for 'Avatar: The Way of Water'?

The domestic box office revenue for 'Avatar: The Way of Water' in IMAX was $16.5 million.

Is 'Avatar: The Way of Water' the biggest December opening for IMAX?

'Avatar: The Way of Water' holds the record for the biggest December opening for IMAX.