With $282.2 million*, IMAX Corporation (NYSE: IMAX) announced today that it had surpassed its previous best set in 2016 by over $10 million and set a new company record for the first quarter of a year. The first quarter now stands as IMAX’s highest grossing quarter ever for local language releases, and it also saw the outstanding performance of James Cameron’s “Avatar: The Way of Water,” which helped to propel the record-breaking results.
The first quarter, in which we plan to return to our record-breaking box office levels from 2019, is a fantastic indicator of the promise we see in 2023, according to Rich Gelfond, CEO of IMAX. Our best-ever box office for the quarter demonstrates that IMAX is totally exceptional in its ability to profit from both Hollywood and local language box office, and our expanding content library continues to be a critical, successful pillar of our worldwide growth plan.
For local language movies, IMAX generated a record $86.3 million in box office revenue in the first quarter, accounting for 31% of the company’s total global box office for the first three months of the year. The outcomes were influenced by a number of popular films from major film industries around the world, including:
- Chinese New Year box office brought in $61.3 million, setting a new record for local language box office during China’s busiest movie going season.
- The Wandering Earth 2 from China Film Group is currently the top-grossing local language movie ever at IMAX.
- Toho’s “Suzume,” which debuted in Japan in November, became the second-highest grossing Japanese local language film of all time at IMAX.
- Pathaan, a movie from Yash Raj Films, had the biggest opening weekend ever for an Indian movie worldwide.
In 2023, IMAX plans to air 30 to 40 films in local languages.
James Cameron’s “Avatar: The Way of Water” has earned $255 million in IMAX, making it the company’s highest grossing first-run release of all time. It was the highest grossing IMAX release of the quarter. Hollywood blockbusters like “Creed III,” which is the highest-grossing sports movie ever in IMAX, “Ant-Man and the Wasp: Quantumania,” and “John Wick 4,” among others, also performed well for IMAX.
The Super Mario Bros. Movie from Universal Pictures, “Guardians of the Galaxy Vol. 3” from Disney/Marvel Studios, and the eagerly awaited French local language film “The Three Musketeers: D’Artagnan” will all be making their IMAX network debuts in the upcoming weeks.
Concerning IMAX Corporation
A leader in entertainment technology, IMAX combines proprietary software, structures, and tools to produce experiences that transport you to a world beyond the edge of your seat. Top studios and filmmakers are using IMAX systems to engage audiences in novel ways, making the IMAX network one of the most significant and effective theatrical distribution platforms for big event movies all over the world. An IMAX subsidiary, the streaming technology company SSIMWAVE, is a pioneer in AI-driven video quality solutions for media and entertainment businesses.
With offices also in London, Dublin, Tokyo, and Shanghai, IMAX has its main offices in New York, Toronto, and Los Angeles. There were 1,716 IMAX systems operating in 87 countries and territories as of December 31, 2022 (1,633 commercial multiplexes, 12 commercial destinations, and 71 institutional). A subsidiary of IMAX Corporation, IMAX China Holding, Inc. trades its shares on the Hong Kong Stock Exchange under the ticker symbol “1970.”
the IMAX® brand, the IMAX® dome, the IMAX® 3D brand, 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. To learn more, go to www.imax.com. IMAX is also on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax), YouTube (www.youtube.com/imaxmovies), LinkedIn (www.linkedin.com/imax), and Instagram (www.instagram.com/imax).
