By Etan Vlessing on August 6, 2012
The Indian multiplex pioneer is to install a fifth large format theater in Bangalore, after an earlier four-theater agreement.
TORONTO – Indian cinema chain and multiplex pioneer PVR Cinemas has purchased an IMAX theater for Bangalore, to add to an earlier four-screen deal with the Canadian giant screen exhibitor.
New Delhi-based PVR, which is currently expanding its cinema circuit overall, will open the fifth IMAX screen in March 2013 in Bangalore’s Vega Mall.
The latest agreement follows an earlier March 2011 deal with IMAX for four theaters. Read entire article on The Hollywood Reporter's website.
By Brent Lang on August 5, 2012
In a summer where Hollywood has fielded nearly as many high-priced flops as blockbuster behemoths, one sector of the movie business has remained remarkably consistent – IMAX.
Audiences, particularly fanboys, have remained intensely loyal to its mammoth 70mm screens at a time when theatrical attendance domestically has declined.
Overall, IMAX, which has struggled in the past with the seasonal ups and downs of the movie business has been a more consistent performer. In the most recent quarter IMAX posted revenue growth of 22.7 percent. That outpaces the industry average of 13.4 percent. Profits increased six-fold to $11.1 million.
And even while the recent shootings at a Colorado theater have cast a shadow over the industry, the last month has been outstanding for the large-screen format. “The Dark Knight Rises” is shattering box-office records for IMAX, earning $50 million in just two weeks of release.
During the Batman’s sequel’s $160.8 million opening weekend, IMAX accounted for nearly 12 percent of the film’s box office, despite making up less than 5 percent of the screens showing the movie. A company that ten years ago was best known for showing science documentaries and only began screening theatrical features with "Fantasia 2000" in 2000, has become a true Hollywood player.
Indeed, at a time where theatrical exhibition is facing fierce challenges from gaming, digital content and elaborate home-entertainment systems that allow consumers to watch films from the comfort of their couch, IMAX provides something that can only be found on its screens. Read the entire article on The Wrap's website.
By Jill Goldsmith on July 26, 2012
A strong box office buoyed Imax profits as more filmmakers film bigger chunks of their movies for the massive screens, the longest bit so far being 72 minutes of Warner Bros. "The Dark Knight Rises," and two big releases shoot in Imax simultaneously for the first time.
Imax needs to ramp up camera production to meet increased demand, said CEO Richard Gelfond on a conference call Thursday.
"Prometheus" and "The Amazing Spider-Man" used Imax sequences. 2013 highlights include J.J. Abrams' "Star Trek" sequel and "Catching Fire," the second "The Hunger Games" installment.
Gelfond began the investor call saluting victims of the tragic theater shooting in Aurora, Colo. at a "Dark Knight" screening last week. "Our thoughts go out to them," he said.
For the three months ended in June, net profit surged to $11.1 million from $1.8 million the year before. Revenue rose 23% to $70 from $57 million.
Total film revenue of $26 million was up from $19 million Production and Imax DMR (digital media remastering) revenues were $19.7 million vs. $12.4 million. Gross box office from DMR titles was $173 million from $108 million the year before. Average box office per screen in rose to $341,900 from $315,700.
Imax signed contracts for 40 theatre systems and installed 20 during the quarter. It increased its 2012 installations scheduled from current backlog to approximately 110 new theatres, from a previous outlook of 95 to 100 new theatres.
There were 280 theatre systems in backlog as of June 30, 2012 compared to 261 systems in backlog at the end of March and 294 systems in backlog in the 2011 second quarter.
Gelfond said China is its fastest growing market outside the U.S. through a partnership with the Dalian Wanda Group, which is in the process of acquiring U.S. exhib AMC Entertainment. Imax expects to grow its China footprint by 50% year-on-year in 2012. Read the entire article on The Hollywood Reporter's website.
By Robert Mitchell on July 18, 2012
LONDON -- Two days out from release Warner Bros' ''The Dark Knight Rises'' is already setting records in the U.K.
The BFI London IMAX cinema announced Wednesday that the blockbuster has already sold 62,300 tickets at the venue, grossing more than 1 million ($1.57 million) since going on sale five weeks ago.
A total of 43 screenings are now sold out and extra shows are being added.
Advance sales for the new Batman film far surpassed the venue's previous record holder, ''Avatar,'' which sold 47,000 tickets ahead of its December 2009 release.
''The Dark Knight Rises'' also set records for biggest first day sales (24,754) and first week sales (38,658). Please click here to read the entire article.
By Lou Lumenick on July 18, 2012
Batman is lured back into action after a lengthy hiatus — to prevent a terrorist from nuking a Gotham City closely resembling the Big Apple — in the imposingly dark and hugely entertaining “The Dark Knight Rises.’’
Superhero movies are perhaps the most predicable genre out there right now (sorry, Marvel fans), but take it from someone who can usually spot plot twists half an hour away: Christopher Nolan’s dramatically and emotionally satisfying wrap-up to the Dark Knight trilogy adroitly avoids clichés and gleefully subverts your expectations at every turn.
Eight years after the end of 2008’s “The Dark Knight,’’ Christian Bale’s Bruce Wayne is a shattered recluse who hobbles around his mansion on a cane following the death of his fiancée — and his long-unseen alter ego, Batman, is being blamed for the death of DA Harvey Dent.
Please click here to read the entire article.