IMAX ROARS TO $23.5 MILLION DURING CHINESE NEW YEAR HOLIDAY

Rhea-AI Summary

IMAX Corporation (NYSE: IMAX) achieved a strong box office performance, grossing $23.5 million during the 2022 Chinese New Year holiday. The film "The Battle at Lake Changjin 2" led with $23.3 million from IMAX screens, marking the third-best six-day opening for the holiday. This was the fifth consecutive year IMAX surpassed $20 million during this event. IMAX captured nearly 6% of the film's total gross on only 1% of the screens, showcasing the brand's appeal in China and reaffirming its dominance in immersive cinema experiences.

Positive

• IMAX grossed $23.5 million during the Chinese New Year holiday.
• The Battle at Lake Changjin 2 generated $23.3 million, ranking as the third-best six-day performance for IMAX Chinese New Year releases.
• This marks the fifth consecutive year IMAX has generated over $20 million in box office during this holiday.
• IMAX's market share reflects a strong brand presence in China, capturing nearly 6% of the film's total gross on only 1% of the screens.

Negative

• None.

NEW YORK and SHANGHAI, Feb. 7, 2022 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) captured $23.5 million in box office during the 2022 Chinese New Year holiday. The Filmed for IMAX blockbuster "The Battle at Lake Changjin 2" — shot with IMAX certified digital cameras and presented in IMAX exclusive 1.90 IMAX Expanded Aspect Ratio for the entirety of the film — emerged victorious with $23.3 million in IMAX box office, marking the third-best six-day performance for an IMAX Chinese New Year release. IMAX captured nearly 6% of the film's total gross for the holiday on only 1% of the screens.

In a sign of the brand's strength with signature event films, this year marked the fifth consecutive Chinese New Year moviegoing season in which IMAX generated more than $20 million in box office.

"IMAX is synonymous with epic events and experiences, and our continued success with the biggest annual cultural event in China is a strong testament to the power of our brand," said Rich Gelfond, CEO of IMAX. "Our strong market share with 'The Battle of Lake Changjin 2' demonstrates that when Chinese audiences want to come together and experience unforgettable entertainment in the most immersive way possible, they choose IMAX."

The success of "The Battle at Lake Changjin 2" follows the story of its record-breaking first entry, which grossed $35.9m on the IMAX China network alone in 2021. IMAX earned a record-breaking $147.8 million from local language Chinese titles in 2021. The Company continues to expand the use of its cameras in local productions in China, with several highly anticipated Chinese blockbusters in 2022 and 2023 expected to shoot with IMAX certified cameras.

Alongside the wartime epic in IMAX China network were Bad Monkeys Pictures' "Nice View" and PMF Pictures' "Only Fools Rush In" from famous director Han Han.

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. 

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2021, there were 1,664 IMAX theater systems (1,580 commercial multiplexes, 12 commercial destinations, 72 institutional) operating in 85 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^®, IMAX nXos^® 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. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

Investors:

IMAX Corporation, New York 
Brett Harriss
212-821-0187 
bharriss@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 IMAX's box office revenue during the Chinese New Year holiday in 2022?

IMAX reported a box office revenue of $23.5 million during the 2022 Chinese New Year holiday.

How much did 'The Battle at Lake Changjin 2' make in IMAX theaters?

'The Battle at Lake Changjin 2' earned $23.3 million at the IMAX box office.

What is the significance of IMAX's performance during the Chinese New Year?

IMAX's performance during the Chinese New Year highlights its strong brand presence, marking the fifth consecutive year of over $20 million in box office earnings.

How does IMAX's market share compare to total box office during Chinese New Year?

IMAX captured nearly 6% of the total gross of 'The Battle at Lake Changjin 2' on only 1% of the screens.