IMAX Soars to Highest Grossing Chinese New Year Ever with $53 Million

Rhea-AI Summary

IMAX (NYSE: IMAX) achieved record-breaking performance during the 2025 Chinese New Year, generating $53 million in box office revenue during the 7-day holiday period ended February 4. This represents a 57% increase from the previous record of $34 million set in 2023.

The company reached its highest attendance ever with 5.5 million admissions nationwide and secured a 4.3% market share on only 1% of screens. The animated blockbuster 'Ne Zha 2' led with $36 million, becoming the fourth highest-grossing IMAX local language release ever. Other notable performances included 'Creation of the Gods II: Demon Force' ($7.6 million), 'Legend of the Condor Heroes: The Gallants' ($3.7 million), and 'Operation Hadal' ($2.7 million).

The films will continue playing throughout the IMAX China network for another month, alongside international releases including Disney's 'Captain America: Brave New World'.

Positive

• Record-breaking Chinese New Year box office revenue of $53M, up 57% YoY
• Highest-ever attendance with 5.5 million admissions
• Strong market share of 4.3% on only 1% of screens
• Ne Zha 2 became fourth highest-grossing IMAX local language release
• International expansion of Chinese films generating $1.2M outside China

Negative

• None.

Insights

Financial Analyst

IMAX's exceptional Chinese New Year performance reveals several critical business insights. The $53M box office achievement, up 57% year-over-year, significantly outpaces China's overall box office growth, indicating IMAX's strengthening competitive moat in premium theatrical experiences. The 4.3% market share from just 1% of screens demonstrates remarkable operational leverage and pricing power.

The success of Ne Zha 2 at $36M in just seven days versus its predecessor's two-month run of $35M signals accelerating consumer preference for premium formats. This trend suggests potential for sustained margin expansion, as IMAX typically commands 15-20% higher ticket prices.

Strategic global distribution of Chinese content across 11 countries represents a promising revenue diversification strategy. The additional $1.2M international revenue, while modest, establishes proof of concept for IMAX's role in exporting Chinese cinema globally. This positions IMAX uniquely as both a technology provider and cultural bridge in the entertainment industry.

The month-long extended run of Chinese New Year content, alongside Hollywood releases, demonstrates IMAX's ability to optimize screen utilization and maintain steady revenue streams beyond peak periods. This programming flexibility enhances the company's revenue stability and asset efficiency.

Market Research Analyst

The record 5.5 million admissions during Chinese New Year represents a watershed moment in consumer entertainment preferences. This surge in attendance, coupled with IMAX's premium pricing, validates the company's market positioning and suggests a structural shift in moviegoing habits toward higher-quality experiences.

The diverse genre success across animation (Ne Zha 2), fantasy (Creation of the Gods II) and naval drama (Operation Hadal) demonstrates IMAX's broad market appeal and reduced content risk. This portfolio approach, combined with exclusive aspect ratio offerings, creates compelling differentiation in a competitive market.

The strategic timing of releases, including the overlap with Hollywood content and classic re-releases, shows sophisticated audience segmentation and programming strategy. This approach maximizes theater utilization while catering to distinct audience preferences, potentially establishing new consumption patterns that could benefit IMAX year-round.

IMAX Box Office in China’s Peak Moviegoing Period up +57% over Previous Best; Animated Blockbuster “Ne Zha 2” Leads the Way with $36 Million and Counting

NEW YORK & SHANGHAI--(BUSINESS WIRE)-- IMAX Corporation (NYSE: IMAX) shattered its box office record for Chinese New Year, delivering $53 million during the 7-day holiday period concluded February 4. The busiest window annually for moviegoing in China, the 2025 Chinese New Year holiday saw IMAX exceed its previous record of $34 million set in 2023 by a whopping +57%. IMAX also delivered its highest attendance ever for the Chinese New Year, with 5.5 million admissions nationwide.

While the holiday has concluded, IMAX’s record-breaking slate of Chinese New Year films will continue to play throughout the IMAX China network for another month. IMAX delivered its highest market share of the holiday – 4.3% on only 1% of screens – and $7.2 million on the final day of the period, demonstrating the continued strength of the slate.

“Chinese New Year unleashed one of the most impressive surges in moviegoing we’ve seen in recent years, anywhere in the world — leaving a slew of broken IMAX records in its wake,” said Rich Gelfond, CEO of IMAX. “This is a shot of adrenaline for moviegoing in China that comes at just the right time, with a tentpole heavy slate of local language and Hollywood films ahead for 2025.”

Enlight’s “Ne Zha 2” — the highly anticipated sequel to the 2019 smash hit — led the way with $36 million. The film scored the biggest opening weekend in IMAX history for an animated film with $22 million and is already the fourth highest grossing IMAX local language release of all time. “Ne Zha 2” took just seven days to top its predecessor “Ne Zha”, which earned $35 million in China over its two-month IMAX run.

Alibaba’s fantasy “Creation of the Gods II: Demon Force” delivered $7.6 million and Bona’s naval drama “Operation Hadal” added another $2.7 million in IMAX. Both films featured IMAX-exclusive expanded aspect ratio. China Film Group’s martial arts actioner “Legend of the Condor Heroes: The Gallants” scored $3.7 million while Maoyan’s “Detective Chinatown 1900” contributed an additional $2.7 million in IMAX.

"The message from audiences is clear: IMAX is their first choice," said Daniel Manwaring, CEO of IMAX China. "Riding on a stronger-than-ever audience preference, IMAX has transformed moviegoing into a cultural phenomenon and a social talking point. We deeply value their brand loyalty and are confident that we can carry this momentum throughout what is poised to be one of the strongest years for Chinese local language films."

With the 2025 Chinese New Year slate, IMAX continues to expand its strategy of bringing local language films to audiences around the world. “Creation of The Gods II: Demon Force” and “Detective Chinatown 1900” were also released in select IMAX locations across 11 countries worldwide, bringing in more than $1.2 million outside of China. “Ne Zha 2" will be shown exclusively in IMAX locations in Australia and New Zealand beginning February 6^th.

The Chinese New Year slate will continue to play in China for the next month, alongside Disney’s “Captain America: Brave New World” and the re-release of the classic romance “In the Mood for Love".

About IMAX China

IMAX China is a subsidiary of IMAX Corporation and was incorporated as a limited liability company under the laws of Cayman Islands. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China. Shares of IMAX China trade on the Hong Kong Stock Exchange under the stock code “1970.”

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, 2024, there were 1,788 IMAX systems (1,714 commercial multiplexes, 12 commercial destinations, 62 institutional) operating in 89 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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20250205632324/en/

For additional information please contact:

Investors:

Jennifer Horsley

jhorsley@imax.com

Media:

Mark Jafar (IMAX)

mjafar@imax.com

Vivian Tang (IMAX China)

vtang@imax.com

Source: IMAX Corporation

FAQ

How much did IMAX earn during Chinese New Year 2025?

IMAX earned $53 million during the 7-day Chinese New Year holiday period in 2025, marking its highest-grossing Chinese New Year ever.

What was Ne Zha 2's box office performance on IMAX screens?

Ne Zha 2 generated $36 million on IMAX screens, including a record-breaking $22 million opening weekend for an animated film.

How did IMAX's 2025 Chinese New Year compare to 2023?

IMAX's 2025 Chinese New Year box office was 57% higher than the previous record of $34 million set in 2023.

What was IMAX's market share during Chinese New Year 2025?

IMAX achieved a 4.3% market share during Chinese New Year 2025, despite having only 1% of screens.

How many admissions did IMAX record during Chinese New Year 2025?

IMAX recorded 5.5 million admissions nationwide during Chinese New Year 2025, its highest attendance ever for the holiday period.