IMAX Riding High on GODZILLA Success

Source: IMAX Corporation, Zacks Investment Research, Inc. press releases Official Site: Godzillamovie.com IMAX Corporation registered the highest opening weekend box-office collection from Warner Bros. Pictures and Legendary Entertainment`s recently released flick, GODZILLA. From May 16-18, the movie grossed approximately $14.2 million in 352 North American IMAX 3D theatres and approximately $7 million in 187 international IMAX theatres, resulting in a strong IMAX worldwide per-screen average of approximately $40,000. Overall, GODZILLA grossed approximately $93.2 million for Warner Bros. domestically and $196.6 million worldwide in its first 3 days of release.

IMAX reported dozens of individual theatre records across its global network and breakout international territories for the Company included Taiwan, Austria, Germany, New Zealand and the UK. The film is set to open in IMAX theatres across China on June 13. The launch is likely to drive box office collections further as IMAX boasts over 75 theaters in the nation. "The cornerstone of our portfolio strategy is finding those movies where people say, `if you haven`t seen it in IMAX than you haven`t really experienced it.` GODZILLA is clearly one of those films," said Greg Foster, Senior Executive Vice President, IMAX Corp and CEO of IMAX Entertainment. "Congratulations to our longtime partners at Warner Bros. and Legendary Entertainment and Director Gareth Edwards on a massive and flawlessly executed launch. GODZILLA`s epic scope and scale dynamically lends itself to The IMAX Experience and we expect the strong momentum and word-of-mouth we are seeing to carry through into the second week, particularly with the added benefit of Memorial Day weekend in the US." The IMAX 3D release of GODZILLA has been digitally re-mastered into the image and sound quality of The IMAX 3D 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 make audiences feel as if they are in the movie. A few days back, IMAX signed an agreement with Europe`s Nordic Cinema Group to install a theatre at the latter`s SF Bio multiplex. Nordic Cinema Group is one of the major cinema operators in Europe with 590 screens installed across the continent. Thus, the Nordic Cinema deal will certainly fortify IMAX`s position in the region. Recently, the company entered into a multi-picture agreement with The Walt Disney Company and received strategic investments in its Chinese venture. We believe these two developments will significantly benefit the company over the long term. In the recently concluded first quarter of 2014, IMAX recorded total revenue of $48.2 million, down 3% year over year.

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 March 31, 2014, there were 840 IMAX theatres (707 commercial multiplexes, 18 commercial destinations and 115 institutions) in 57 countries. IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAXnXos® are trademarks of IMAX Corporation.

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For more information on Warner Bros and Legendary Pictures` GODZILLA, please see the earlier coverage here on SciFi Japan: