IMAX Soars to Banner Year in 2023 with $1.06 Billion in Global Box Office

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Jan 09, 2024, 08:30 ET

Historic Results Led by Company's Highest Grossing Year Ever at the Domestic Box Office with $393 Million

NEW YORK, Jan. 9, 2024 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) soared to $1.06 billion in global box office in 2023 — the second highest grossing year in the Company's history — powered by a diverse portfolio of awe-inspiring experiences across Hollywood and local language films, concerts, and live events*.

IMAX drove 24.4% growth in global box office over 2022 and programmed a record 98 new films worldwide in the year. Christopher Nolan's "Oppenheimer" — the Filmed for IMAX epic that took home five awards during Sunday's Golden Globes — was the top grosser with $183.2 million. The IMAX global technology platform further distinguished itself from exhibitors in 2023, as IMAX global box office increased 2% over its 2017-2019 average compared to an estimated -21% decline for exhibitors worldwide**.

"From 'Oppenheimer' to Taylor Swift to releases from across China, India, and Japan, IMAX delivered more awe-inspiring experiences from more creative partners in 2023, resulting in one of our best years ever," said Rich Gelfond, CEO of IMAX. "We will continue to push the envelope with our technology to make the impossible feel real for audiences around the world, and drive future growth for our company."

IMAX's strong results in 2023 were driven by record-breaking performances at the North American box office and grosses from local language films worldwide. With $393 million in box office receipts, 2023 was IMAX's highest grossing year ever at the domestic box office. IMAX also recorded a best-ever $227 million in local language box office from films across China, India, and Japan as well as new studio partners in Indonesia and Thailand.

For the first time ever, IMAX expects to program more than 100 films, experiences, and events globally in 2024, including highly anticipated blockbusters "Dune — Part Two", "Despicable Me 4", "Joker: Folie à Deux," "Deadpool 3", and "Wicked", as well as experiences including this month's IMAX exclusive "Queen Rock Montreal".

Global Network Growth

The Company's strong box office performance led to robust sales activity for IMAX, as it recorded 129 signings for new and upgraded IMAX systems worldwide — including its best Q4 since 2015 with 35 signings. IMAX completed 41 different sales agreements with 36 exhibition partners across 26 territories worldwide in 2023. The Company delivered the highest number of signings ever in priority growth markets including France, Thailand, Indonesia, and Malaysia. Several key regions saw the strongest sales activity in at least five years, including North America (2018), Europe (2017), and Latin America (2014).

*All global box office figures exclude booking fees in China; including booking fees IMAX 2023 GBO is $1.09B
**2023 Worldwide Global Box Office Estimate from Gower Street Analytics

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 systems to connect with audiences in extraordinary ways, making IMAX's network 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 additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2023, there were 1,731 IMAX systems (1,651 commercial multiplexes, 12 commercial destinations, 68 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."

IMAX^®, IMAX^® 3D, Experience It In IMAX^®, The IMAX Experience^®, DMR^®, Filmed For IMAX^®, IMAX LIVE™, and IMAX Enhanced^® are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com. You may also connect with IMAX on Instagram (www.instagram.com/imax), Facebook (www.facebook.com/imax), LinkedIn (www.linkedin.com/company/imax), X (www.twitter.com/imax), and YouTube (www.youtube.com/imaxmovies).