IMAX Corp. more than than doubled its previous best year of global box office receipts with a record $546 million in 2010 from its DMR system (Digital Media Remastering) of converting conventional movies for its proprietary large screen format, the company announced this morning (Monday, Jan. 3).
The company’s previous biggest year was 2009 with $270 million.
Even without the anticipated seventh chapter of “Harry Potter” in 3D, IMAX’s fourth quarter of $102 million still edged out the company’s $101 million in 2009.
Of course there were more mainstream IMAX 3D movies than ever before, each of which carries a higher ticket price premium, but the company’s original large format documentaries also contributed, led by “Hubble 3D,” “Under the Sea 3D,” and “Deep Sea 3D,” with a combined total of $41 million.
“Our box office per theatre average grew by 50 percent year-over-year,” said Richard L. Gelfond, IMAX CEO.
IMAX presented almost all of the top domestic film releases of the year — nine of the top 10 movies in 2010 — adding roughly 10%, more or less, to the gross of most of them. Whether it’s because IMAX is good at picking the winners or because an IMAX release ensures its success, or both, 24 of the last 25 IMAX presentations topped the overall box office on opening weekend.
“With nearly $600 million in worldwide box office and same-store revenues up an incredible 50%, the premium IMAX format continues to be a key contributor to the success of more and more big studio titles,” said Paul Dergarabedian president of the box-office division of Hollywood.com.
Overseas expansion drove a big percentage of box office gross increases, with 39% generated overseas in 2010 compared to 26% in 2009.
“In 2011, we anticipate another record number of DMR titles will be released to a record number of IMAX screens,” said Greg Foster, Chairman and President, IMAX Filmed Entertainment.
Eight new IMAX 3D releases have already been announced for 2011 — “The Green Hornet,” “Sanctum,” “Mars Needs Moms,” “Born to Be Wild,” “Pirates of the Caribbean: On Stranger Tides,” “Cars 2,” “Harry Potter and the Deathly Hallows: Part 2,” and “Happy Feet 2” — and four other IMAX 2D studio releases: “I am Number Four,” “Sucker Punch,” “Fast Five,” and “Real Steel.”
— By Scott Hettrick