IMAX(R) Theatres Contribute More Than 17% of the Overall Box Office on
Less Than 2% of the Screens
45 of the 50 Top-Performing Domestic Locations Were IMAX(R) Theatres
LOS ANGELES, Nov. 27 /CNW/ - IMAX Corporation today announced that
Beowulf: An IMAX 3D Experience grossed $2.95 million on 84 domestic IMAX
screens during its second weekend, setting a new record for the highest
grossing second weekend in IMAX history. IMAX(R) theatres contributed more
than 17 percent of the weekend's overall domestic box office of $16.5 million
on less than 2 percent of the screens, with a per screen average of $35,076.
The ten-day domestic total for the IMAX(R) 3D release was $8.8 million, with a
per screen average of $104,500. Further, 45 of the 50 top-performing domestic
locations playing Beowulf were IMAX theatres. The worldwide IMAX total for
Beowulf has reached $11.1 million.
"The record-breaking second weekend performance of Beowulf in IMAX
theatres provides another example of how IMAX 3D can drive multiplex
attendance," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley
J. Wechsler. "As 3D content becomes increasingly available in theatres around
the world, we believe that IMAX 3D will remain the gold standard and continue
to be first choice for consumers who want to experience movies in a way they
cannot get anywhere else."
The IMAX 3D version of Beowulf also continued to show strong results
internationally, grossing $1.3 million on 35 screens through the second
weekend, bringing the international total to $2.3 million. London's bfi IMAX
theatre was up 2% over its opening weekend, posting more than $115,000 for the
second weekend in a row, and in Russia, Moscow's Nescafe IMAX Theatre posted
over $120,000 in gross box office receipts, selling out every show through its
four-day opening weekend.
"Beowulf is an exciting picture that is ideally suited to IMAX 3D and the
second weekend results show that word-of-mouth is clearly kicking in," said
Greg Foster, Chairman and President of IMAX Filmed Entertainment. "We're also
very pleased with the international results, which serve as another testament
to the people at Paramount Pictures, Shangri-La Entertainment and Warner Bros.
Pictures, who have done an outstanding job of delivering a movie that
resonates well with IMAX audiences globally."
Inspired by the 9th century English epic poem, Beowulf combines a
digitally enhanced live-action filmmaking technology with an all-star cast
that includes Ray Winstone, Anthony Hopkins, John Malkovich, Robin Wright
Penn, Brendan Gleeson, Crispin Glover, Alison Lohman and Angelina Jolie. Neil
Gaiman (MirrorMask, the graphic novel Sandman) and Roger Avary (Pulp Fiction)
adapted the legend for the screen.
About IMAX Corporation
IMAX Corporation is one of the world's leading digital entertainment and
technology companies. The worldwide IMAX network is among the most important
and successful theatrical distribution platforms for major event Hollywood
films around the globe, with IMAX theatres delivering the world's best
cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R)
technology. IMAX DMR is the Company's groundbreaking digital remastering
technology that allows it to digitally transform virtually any conventional
motion picture into the unparalleled image and sound quality of The IMAX
Experience(R). IMAX's renowned projectors and new digital systems display
crystal-clear images on the world's biggest screens. The IMAX brand is
recognized throughout the world for extraordinary and immersive entertainment
experiences for consumers. As of September 30, 2007, there were 296 IMAX
theatres operating in 40 countries.
IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R), and The IMAX Experience(R)
are trademarks of IMAX Corporation. More information on the Company can be
found at www.imax.com.
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 ongoing
discussions with the SEC and OSC relating to their ongoing inquiries and the
Company's financial reporting and accounting, the timing of theatre system
deliveries, the mix of theatre systems shipped, the timing of the recognition
of revenues and expenses on film production and distribution agreements, the
performance of films, the viability of new businesses and products, risks
arising from potential material weaknesses in internal control over financial
reporting and fluctuations in foreign currency and in the large format and
general commercial exhibition market. These factors and other risks and
uncertainties are discussed in the Company's Annual Report on Form 10-K/A for
the year ended December 31, 2006, as well as the Company's Quarterly Reports
on Form 10-Q/A.
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