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Tag: IMAX Corp

  • Warcraft shatters IMAX opening-day box office records; Grosses $5.32 million, or RMB 35 million on 290 IMAX® screens across China

    Warcraft shatters IMAX opening-day box office records; Grosses $5.32 million, or RMB 35 million on 290 IMAX® screens across China

    MUMBAI: IMAX Corporation (NYSE: IMAX) and IMAX China (HKSE: 1970) today announced that Warcraft, released by Legendary Pictures, scored a record-setting opening day – including midnight shows – in 290 IMAX® theatres across China with box office of $5.33 million, or RMB 35 million. The new all-time record surpassed the previous record-holder Furious 7’s RMB 31 million. In addition, Warcraft also breaks the IMAX midnight show (RMB 9.03 million) and presale (RMB 53.8 million) record in China, driven by its strong following. 

    Warcraft was adapted by Blizzard Entertainment’s video game juggernaut and its release date in China is two days ahead of North America. Of the total for midnight grosses, Wanda’s 151 IMAX screens accounted for RMB 4.7 million, or nearly half.

    John Zeng, President and board director of Wanda Cinema Line Corporation said: “I’m thrilled to see what Wanda IMAX screens have achieved in presale and midnight show box office, which is the best example to show that the pairing of Wanda Cinema’s premier theater environment and IMAX technologies has been strongly recognized by the Chinese moviegoers. And I believe it is only the start for Warcraft’s journey in China.

    “Warcraft presents a spectacular world for moviegoers and IMAX is definitely the best way to experience the scenes. We are excited about this incredible opening across IMAX screens in China and look forward to the future partnership with IMAX to bring new record-setting films to the moviegoers,” said Peter Loehr, Managing Director of Legendary East.

    “Warcraft has become a true cultural phenomenon in China, and IMAX is pleased that the fans’ passion and loyalty has translated into this record-setting opening day for IMAX,” said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. “Congratulations to Legendary, Wanda, Universal and all of our other partners involved in this film. We are proud that our collaboration has resulted not only in these fantastic numbers, but has launched a new cinematic franchise.”

    The IMAX® 3D release of Warcraft will be digitally re-mastered into the image and sound quality of The IMAX Experience® with proprietary IMAX DMR® (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX’s customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.

  • Warcraft shatters IMAX opening-day box office records; Grosses $5.32 million, or RMB 35 million on 290 IMAX® screens across China

    Warcraft shatters IMAX opening-day box office records; Grosses $5.32 million, or RMB 35 million on 290 IMAX® screens across China

    MUMBAI: IMAX Corporation (NYSE: IMAX) and IMAX China (HKSE: 1970) today announced that Warcraft, released by Legendary Pictures, scored a record-setting opening day – including midnight shows – in 290 IMAX® theatres across China with box office of $5.33 million, or RMB 35 million. The new all-time record surpassed the previous record-holder Furious 7’s RMB 31 million. In addition, Warcraft also breaks the IMAX midnight show (RMB 9.03 million) and presale (RMB 53.8 million) record in China, driven by its strong following. 

    Warcraft was adapted by Blizzard Entertainment’s video game juggernaut and its release date in China is two days ahead of North America. Of the total for midnight grosses, Wanda’s 151 IMAX screens accounted for RMB 4.7 million, or nearly half.

    John Zeng, President and board director of Wanda Cinema Line Corporation said: “I’m thrilled to see what Wanda IMAX screens have achieved in presale and midnight show box office, which is the best example to show that the pairing of Wanda Cinema’s premier theater environment and IMAX technologies has been strongly recognized by the Chinese moviegoers. And I believe it is only the start for Warcraft’s journey in China.

    “Warcraft presents a spectacular world for moviegoers and IMAX is definitely the best way to experience the scenes. We are excited about this incredible opening across IMAX screens in China and look forward to the future partnership with IMAX to bring new record-setting films to the moviegoers,” said Peter Loehr, Managing Director of Legendary East.

    “Warcraft has become a true cultural phenomenon in China, and IMAX is pleased that the fans’ passion and loyalty has translated into this record-setting opening day for IMAX,” said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. “Congratulations to Legendary, Wanda, Universal and all of our other partners involved in this film. We are proud that our collaboration has resulted not only in these fantastic numbers, but has launched a new cinematic franchise.”

    The IMAX® 3D release of Warcraft will be digitally re-mastered into the image and sound quality of The IMAX Experience® with proprietary IMAX DMR® (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX’s customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.

  • IMAX Corp net income triples in Q3-2014

    IMAX Corp net income triples in Q3-2014

    BENGALURU: Toronto, Canada based, New York Stock Exchange traded entertainment, technology and distribution company IMAX Corp (IMAX) reported more than 3 times (3.01 times) income attributable to common shareholders (income) in Q3-2014 (Quarter ended September 30, 2014, or current quarter) at US$ 4.858 million versus the US$ 1.609 million in the corresponding year ago quarter Q3-2013. During the 9 month period ended 30 September 2014 (9M-2014), the company’s income rose 15.1 per cent to US$ 18.744 million from US$ 16.286 million in 9M-2013.

    IMAX revenue in the current quarter at US$ 60.742 million was 17.9 per cent more than the US$ 51.507 million in Q3-2013. Revenue in 9M-2014 at US$ 188.084 million was 2.8 per cent higher than the US$ 182.886 million in Q3-2013.

    Notes: (1) The primary revenue sources for the Company can be categorised into two main groups: theatre systems and films. On the theatre systems side, the Company derives revenues from theatre exhibitors primarily through either a sale or sales-type lease arrangement or a joint revenue sharing arrangement. Theatre exhibitors also pay for associated maintenance and extended warranty services. Film revenue is derived primarily from film studios for the provision of film production and digital re-mastering services for exhibition on IMAX theatre systems around the world. The Company derives other film revenues from the distribution of certain films and the provision of post-production services. The Company also derives a small portion of other revenues from the operation of its own theatres, the provision of aftermarket parts for its system components, and camera rentals

    (2)The Company has seven reportable segments identified by category of product sold or service provided: IMAX systems; theatre system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production; and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theatre projection system equipment. The theatre system maintenance segment maintains IMAX theatre projection system equipment in the IMAX theatre network. The joint revenue sharing arrangements segment provides IMAX theatre projection system equipment to an exhibitor in exchange for a share of the box-office and concession revenues. The film production and IMAX DMR segment produces films and performs film re-mastering services. The film distribution segment distributes films for which the Company has distribution rights. The film post-production segment provides film post-production and film print services. The Company refers to all theatres using the IMAX theatre system as “IMAX theatres”.

    IMAX Theatre Systems:

    IMAX Theatre Systems reported 13.1 per cent growth in revenue in the current quarter to US$ 33.899 million from US$ 29.965 million in Q3-2013. 9M-2014 revenue was down 0.2 per cent to US$ 106.742 million from US$ 106.948 million in 9M-2013.

    Gross Margin from IMAX Systems increased 18.9 per cent to US$ 20.188 million in Q3-2014 from US$ 17.576 million in Q3-2013. Gross margins in 9M-2014 rose 1 per cent to US$ 62.993 million from US$ 62.376 million in 9M-2013.
    The rise in revenue and gross margins in Q3-2014 and 9M-2014 is because of corresponding increases in Joint Revenue Sharing Arrangement (JSRA) segments. Revenue fell in 9M-2014 because of lower performance of IMAX Systems segment.

    Films:

    Revenue from ‘Films’ increased 21.1 per cent to US$ 23.678 million in Q3-2014 from US$ 19.547 million in Q3-2013. During 9M-2014, revenue increased 6.3 per cent to US$ 72.935 million from US$ 68.594 million in 9M-2013.

    Gross margins’ for ‘Films’ increased 55 per cent in Q3-2014 to US$ 15.472 million from US$ 9.984 million in Q3-2013. For 9M-2014, gross margins increased 35.7 per cent to US$ 46.853 million from US$ 34.526 million in 9M-2013.

    Geographic information:
    Revenue by geographic area is based on the location of the customer. Revenue related to IMAX DMR is presented based upon the geographic location of the theatres that exhibit the re-mastered films. IMAX DMR revenue is generated through contractual relationships with studios and other third parties and these may not be in the same geographical location as the theatre.

    No single country in the rest of the world, Western Europe, Latin America and Asia (excluding Greater China) classifications comprise more than 10 per cent of the total revenue.

     

    Click here to read the condensed consolidated balance sheet