Blockbuster Achieves Largest Three-Day Summer Box Office Opening Weekend in IMAX for Local-Language Film in China
LOS ANGELES, Aug. 7, 2016 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and IMAX China (HKSE: 1970) today announced that Time Raiders, the 3D adventure film from director Daniel Lee, debuted in China with approximately $5 million on 309 IMAX screens, making it the highest three-day summer opening weekend for a Chinese local-language film.
Launching in China on Aug. 5, Time Raiders—a co-production between Shanghai Film Group, Le Vision Pictures, Nanpai Entertainment Co. and S&C Pictures Co., Ltd.—also now ranks as the third-highest IMAX opening weekend ever for a local-language film, behind Mojin-The Lost Legend (with $7.5 million) and Monster Hunt ($7.2 million).
"Chinese moviegoers are among the most enthusiastic in the world," said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. "That passion—combined with such thrilling entertainment asTime Raiders and the uniquely immersive nature of The IMAX Experience®—is what leads to benchmark results at the box office. We offer a huge congratulations to our partners at Shanghai Film Group and Le Vision, as well as director Daniel Lee on this benchmark IMAX opening, and we look forward to the film's continued success throughout China in IMAX."
The IMAX® 3D release of Time Raiders was 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.
About IMAX China
IMAX China is a subsidiary of IMAX Corporation, and is incorporated 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. IMAX China trades on the Hong Kong Stock Exchange under the stock code "HK.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 theatres 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.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of Jun. 30, 2016, there were 1,102 IMAX theatres (990 commercial multiplexes, 16 commercial destinations and 96 institutions) in 69 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX nXos® 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).
This press release contains forward looking statements that are based on IMAX 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. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
For additional information please contact:
IMAX Corporation – New York
Sloane & Company – New York
IMAX Corporation – New York
Principal Communications Group – Los Angeles
Melissa Zuckerman/Paul Pflug