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IMAX Begins Reopening in China With 369 Theatres Nationwide

IMAX Corporation and IMAX China (NYSE: IMAX) today announced that IMAX theatres across China began to resume operations on Friday -- six months to the day after all movie theatres in the Chinese mainland were closed due to the COVID-19 pandemic.

Benzinga · -
IMAX Corporation and IMAX China (NYSE: IMAX) today announced that IMAX theatres across China began to resume operations on Friday -- six months to the day after all movie theatres in the Chinese mainland were closed due to the COVID-19 pandemic. As of July 26, a total of 369 of IMAX's more than 700 screens have reopened, with at least 600 IMAX theatres in total expected to reopen by mid-August. Under China Film Administration's health and safety guidelines, IMAX theatres returned with "Bloodshot" and "Dolittle"-- two Hollywood titles making their theatrical debuts for Chinese audiences and generating a weekend IMAX box office of $750,000. "Dolittle" earned $535K from 266 IMAX China screens, 11% of the nationwide total despite releasing on only 40% of IMAX screens open at this time in the market. "Bloodshot," distributed by Bona in China, provided $210K from 228 IMAX China screens, about 7% of the nationwide total. Additionally, IMAX was among the headliners for the 23rd Shanghai International Film Festival, with a range of classic titles including the full "Harry Potter" series and IMAX exclusive documentaries "Pandas" and "Michael Jordan to the Max." All IMAX showings sold out in minutes, including more than 1000 tickets for the "Harry Potter" screenings which sold out in seconds. The following titles are scheduled to make their IMAX debut across China in the coming weeks: August 2: "Interstellar" (re-release) August 7: "Ford V. Ferrari" August 7: "1917" August 14: "Bad Boys For Life" August 14: "Harry Potter and the Sorcerer's Stone 3D" "We are delighted to welcome Chinese audiences back to the IMAX Experience in low-risk areas and thank the China Film Administration and our exhibition partners for implementing the necessary measures to help keep moviegoers safe and comfortable," said Rich Gelfond, CEO of IMAX Corporation and Chairman of IMAX China. "From China to South Korea and across our global network, we are seeing that moviegoers are eager to return to theatres where it is safe to do so and we will be ready to support studios, exhibitors and, most importantly, our fans as theatres continue to reopen around the world." With the reopening, IMAX will look to grow its continued strength and success in China. In 2019, IMAX broke several records in China, including Chinese New Year box office, record local language box office and an all-time high full-year box office of $365.8 million. With its recently announced 20-theatre agreement with Wanda Film, IMAX now has 985 screens in operation or contracted to open in China.