IMAX Enjoys Record-Shattering Opening At Chinese Box Office During Chinese New Year

LOS ANGELES and SHANGHAI, Feb. 20, 2018 /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 ? Detective China Town 2, Monster Hunt 2 and Operation Red Sea ? IMAX grossed ¥112 million (US$18 million) over the four-day period starting Feb. 16 across IMAX® theatres in China. This marked IMAX China's best Chinese New Year four-day performance ever, and represents a 60 percent increase in the box office over the same holiday period in 2017.

IMAX theatres earned ¥40 million (US$6.4 million) on Feb. 16, marking the best-ever opening day, single day and highest Chinese New Year opening day for IMAX in China.

Detective China Town 2, Monster Hunt 2 and Operation Red Sea represented the top three films in China over the four-day period, with the films trading the top spot throughout the period. IMAX theatres represented 83 out of the top 100 locations for 2018 Chinese New Year weekend.

"We'd like to extend our sincere congratulations to our long-time partners and friends at Wanda Pictures, Edko Film and Bona Film on their successful openings," said Greg Foster, Senior Executive Vice President, IMAX Corp. and CEO of IMAX Entertainment. "This weekend's record-breaking results clearly highlight the benefits of our new programming strategies, which include a multi-film approach, as well as new marketing initiatives. By providing Chinese audiences with a greater variety of high-quality content, we were able to capitalize on audience preferences and maximize our box office returns. We look forward to the continued success of the three films across our China network during the Chinese New Year period."

The IMAX releases of Monster Hunt 2, Detective Chinatown 2 and the IMAX® 3D release of Operation Red Sea 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 offices in London, Dublin, Tokyo and Shanghai. As of Sept.30, 2017, there were 1,302 IMAX theaters (1,203 commercial multiplexes, 13 commercial destinations and 86 institutions) in 75 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®, 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