The recent reopening of the mainland Chinese box office, including a $1 billion Chinese New Year holiday season, has put a different complexion on the global theatrical industry. Few companies coul…
The recent reopening of the mainland Chinese box office, including a $1 billion Chinese New Year holiday season, has put a different complexion on the global theatrical industry. Few companies could be closer to that change in fortune thanThe company operates as both a supplier of screens, audio and projection equipment for premium cinemas and as a partner in making local Chinese films fit for exhibition in the giant format.
We refer to indexing as our market share of a film’s ticket sales. “The Wandering Earth 2” is our highest grossing local-language film of all time in Imax and third after “Avengers: Endgame” and “Avatar 2.” Our indexing on “Wandering Earth 2” was 9%. That’s astounding. This year [has the potential for] “Fast 10,” “Transformers,” “Mission Impossible” and “Guardians of the Galaxy.” From May, we have a new Imax title every week until the rest of the year.
The most significant changes came in the last few weeks, when we started seeing the dating policy change. So, with the exception of big, blackout periods like the May Day holiday, the October holiday and Chinese New Year, those other windows in between, we’re starting to see films get dates as late as July.
We hear that the emphasis is business recovery after the changes of COVID policy. The leaders of this country [understood that] Hollywood movies still make up a very large percentage of total box office and that as leaders they need to go and help restore every sector. And the film business, is a significant business in the cultural sector.
My long-term goal is when people think of Imax, in addition to the great experience in a in a theatre, they’re really thinking about passionate film people, passionate audiences, passionate directors, who are using our cameras, wanting Imax formats because the color is deeper.It’s our clients’ choice. They can either flat-out acquire our system.
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