IMAX Shatters Chinese New Year Opening Box Office Record Grossing ¥217 Million (US $32.3 Million)

LOS ANGELES and SHANGHAI, Feb. 11, 2019 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and IMAX China (HKSE: 1970) today announced that IMAX reported record-shattering opening box office during the Chinese New Year. Driven by the strong performance of three IMAX local-language films – The Wandering Earth, Crazy Alien and Pegasus – IMAX grossed ¥217 million (US$32.3 million) over the period starting Feb. 5 across 599 IMAX® theatres in China. The results marked IMAX China's best Chinese New Year performance ever, up 40% over the same period in 2018.

The Wandering Earth, China's first big-budget sci-fi film, led the pack grossing more than ¥185 million (US$27.6 million) in IMAX to become the highest grossing local-language film ever for IMAX surpassing Mojin: The Lost Legend. IMAX represented more than 9% of the film's overall gross. The film also set new IMAX records for biggest opening week, surpassing Avengers: Infinity War, and biggest single day and best three-day performance for a local-language title.

"We are very pleased with these record-breaking Chinese New Year results, which are particularly significant when compared to 2018's record performance that was up 80% over the previous year," said IMAX CEO Richard L. Gelfond. "We believe these results clearly highlight the strong consumer demand in China for the premium IMAX experience and the power of the IMAX network for launching high quality, blockbuster content. That content includes The Wandering Earth, the first Chinese sci-fi film which will, no doubt, spur additional projects in the genre. As production values continue to strengthen in China, we believe more audiences will seek out The IMAX Experience®. We'd like to extend our sincere congratulations to our partners at China Film Group, Beijing Culture, Enlight, Bona Film Group and Maoyan on their successful openings and we look forward to the continued success of these titles across our China network during the Chinese New Year period."

The Wandering Earth was also released exclusively in 33 IMAX® 3D theatres in North America on Feb. 5, three days ahead of its wider release, grossing US$775,000 for a per screen average of US$23,500 and setting a new record as IMAX's highest grossing Chinese release in the market.

The IMAX releases of The Wandering Earth, Crazy Alien and Pegasus were 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 additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2018, there were 1,443 IMAX theatre systems (1,346 commercial multiplexes, 13 commercial destinations, 84 institutional) operating in 79 countries and territories.  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®, IMAX Is Believing® 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).

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SOURCE IMAX Corporation