|IMAX Annual DMR Gross Box Office Doubles to $546 Million in 2010, Versus $271 Million in 2009|
TORONTO and LOS ANGELES, Jan 3, 2011 (GlobeNewswire via COMTEX) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that for the fifty-two weeks ended December 31, 2010, IMAX DMR(R) global gross box office reached a record $546 million, more than doubling the Company's previous global box office record of $270 million achieved in 2009. The Company's DMR gross box office for the fourth quarter of 2010 reached $102 million compared to $101 million in the fourth quarter of last year.
Gross box office generated from the Company's original documentaries including Hubble 3D, Under the Sea 3D and Deep Sea 3D totaled $41 million.
"Our 2010 box office results reflect our model of showcasing the biggest blockbuster titles, whether they are 2D or 3D, our network expansion and the significant increase in box office generated from our existing theatres," said Richard L. Gelfond, CEO of IMAX Corporation. "In fact, our box office per theatre average grew by 50 percent year-over-year. Looking ahead to 2011, we have more visibility into our future film slate than we have ever had, we will grow the size of our global network and we believe that this year's strong box office performance will further fuel the theatre signing momentum we enjoyed in 2010 into 2011."
"IMAX proves time and again to be the magic formula that keeps the excitement of movie-going alive and there is no greater proof of this than the 100% year over year uptick in IMAX's 2010 box office revenues," said Paul Dergarabedian president of the box-office division of Hollywood.com, "With nearly $600 million in worldwide box office and same-store revenues up an incredible 50%, the premium IMAX format continues to be a key contributor to the success of more and more big studio titles."
"In 2010 we released more films to the IMAX network from the most diverse group of studio partners than ever before and our box office results reflect well on our strategic initiatives," said Greg Foster, Chairman and President, IMAX Filmed Entertainment. "In 2011, we anticipate another record number of DMR titles will be released to a record number of IMAX screens, and we are working closely with new and long-time studio, exhibitor and filmmaker partners to bring mind-blowing and differentiated IMAX experiences to moviegoers around the globe."
IMAX Box Office Highlights:
- Domestically, 9 of the top 10 grossing films were released into the IMAX network
- A record 16 DMR titles were released to the IMAX(R) theatre network compared to 13 in 2009
- 24 of the last 25 IMAX DMR titles opened Number 1 at the box office on their opening weekend
- 39% of IMAX box office was generated overseas in 2010, compared to approximately 26% in 2009
The Company's announced 2011 film slate includes:
TRON: Legacy: An IMAX 3D Experience (Walt Disney Studios) (continued from 2010)
The Green Hornet: An IMAX 3D Experience (Sony Pictures)
Sanctum: An IMAX 3D Experience (Universal Pictures)
I am Number Four: The IMAX Experience (DreamWorks/Disney)
Mars Needs Moms: An IMAX 3D Experience (Walt Disney Studios)
Sucker Punch: The IMAX Experience (Warner Bros.)
Born to Be Wild 3D (original production from IMAX and Warner Bros.)
Fast Five: The IMAX Experience (Universal)
Pirates of the Caribbean: On Stranger Tides: An IMAX 3D Experience (Walt Disney Studios)
Cars 2: An IMAX 3D Experience (Walt Disney Studios)
Harry Potter and the Deathly Hallows: Part 2: An IMAX 3D Experience (Warner Bros.)
Real Steel: The IMAX Experience (DreamWorks/Disney)
Happy Feet 2: An IMAX 3D Experience (Warner Bros.)
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe, with IMAX(R) theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2010, there were 470 IMAX theatres (348 commercial, 122 institutional) operating in 45 countries.
IMAX(R), IMAX(R) 3D, IMAX DMR(R), Experience It In IMAX(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469
This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and investigation by the SEC and the ongoing inquiry by the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
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SOURCE: IMAX Corporation
CONTACT: IMAX Corporation - Santa Monica