IMAX rakes in US$28M at CNY box office

IMAX Corporation capitalized on the Chinese New Year holiday, delivering US$28 million at the Chinese mainland box office. The Spring Festival holiday is one of the peak moviegoing periods in China, and this year’s holiday was especially long. With three of the top five titles screened in IMAX format, the IMAX China network contributed 3.4% of the total box office on less than 1% of total screens.

“Pegasus 3”

Results were driven by Maoyan’s “Pegasus 3,” a high-octane racing thriller that earned US$24 million in its first seven days — the strongest IMAX performance for a Chinese film since last year’s smash hit “Ne Zha 2.” Already the highest-grossing film of the “Pegasus” franchise in IMAX, “Pegasus 3” marks the fourth collaboration between IMAX and filmmaker Han Han.

“Our continued success with the Chinese New Year holiday underscores the diverse global breadth of our content portfolio — and our unique ability to create opportunities and generate results throughout the year,” said Rich Gelfond, CEO of IMAX. “Around the world, IMAX continues to drive momentum and deliver strong market share as we approach historically the most lucrative period of the moviegoing year.”

“Blade of the Guardians”

Rounding out the IMAX Chinese New Year slate are Super Lion’s martial arts actioner “Blade of the Guardians,” which earned US$3.3 million, and Damai’s thriller “Scare Out,” which notched US$500,000 across the holiday period.

“Moviegoing remains a beloved part of Chinese culture, and nowhere is that more apparent than during the Chinese New Year holiday, where IMAX continues to capture strong market share and help lead the Chinese box office,” said Daniel Manwaring, CEO of IMAX China. “Our fans in China continue to show remarkable loyalty to our brand, and we believe the holiday will give us strong momentum at the box office with a solid slate of local and Hollywood releases ahead.”

“Scare Out”

IMAX also continues to expand the global reach of local-language titles to audiences across the world. 

“Pegasus 3” will receive an exclusive North American IMAX release beginning this week in select IMAX locations, followed by select U.K., Australia, and New Zealand locations later this week. Meanwhile, “Blade of the Guardians” will play in select Asia and Pacific markets, including Australia.