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IMAX China Network Delivers $15.8 million, 27% of the Film’s Gross in the market — IMAX’s Highest Opening Weekend Market Share ever; “Avatar: The Way of Water” Claims Crown as Biggest IMAX December Global Opening Ever
NEW YORK, US and SHANGHAI, CHINA - Media OutReach - 19 December 2022 - IMAX Corporation (NYSE: IMAX) and IMAX China (HKSE:1970) 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 in IMAX of all time. “Avatar: The Way of Water” heralded a return to form for IMAX in China, where the Company delivered an $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. 18 out of 20 top locations in China are IMAX theaters.
“‘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.”
The North American box office led the way, where IMAX delivered $16.5 million in Domestic box office —12.3% of total receipts. 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.
“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. The film will screen across the IMAX network through January in most global markets.
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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 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."
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