IMAX Rockets to $7.8 Million During May Day Holiday in China

Strong Performance of "Born to Fly" Leads Pivotal Box Office Period, Setting Multiple IMAX Local Language Records for the Second Quarter

SHANGHAI and NEW YORK, May 3, 2023 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) today announced the Company grossed $7.8 million over the 6-day May Day holiday in China — the second highest grossing May Day period ever for IMAX China. Driven by the strong performance of Alibaba's "Born to Fly", IMAX accounted for 16 out of the top 20 locations nationwide during one of the country's peak moviegoing periods.

The stellar performance was led by Alibaba's airborne actioner "Born to Fly", which grossed $6.5 million across the IMAX China network — good for nearly 8.5% of the film's total gross on less than 1% of screens. "Born to Fly" soared to several records for IMAX China, including:

• Biggest second quarter opening weekend ever for a Chinese film
• Biggest second quarter opening day ever for a Chinese film
• Highest IMAX market share ever for a second quarter Chinese film

Rounding out the diverse slate for IMAX were the newly released comedy "Godspeed" and action thriller "Flashover", as well as the continued strong run of the Japanese anime release "The First Slam Dunk", which has grossed $6.6 million in China to date.

"The Chinese box office continues to make great strides in 2023, as the momentum of our record-breaking performance during Chinese New Year has carried across the year and into the Labor Day holiday," said Rich Gelfond, CEO of IMAX. "With a very strong mix of Hollywood, local, and international blockbusters arriving in Chinese cinemas this summer, IMAX is set to strengthen its standing as the market leader in Chinese moviegoing and a powerful catalyst for the rebound of the country's box office."

Many highly anticipated Hollywood blockbusters are set for release in China this summer, including this weekend's Filmed For IMAX release "Guardians of the Galaxy, Vol. 3", "Fast X", "The Little Mermaid", "Spider-Man: Across the Spider-Verse", "Transformers: Rise of the Beasts", and "The Flash".

About IMAX China

IMAX China is a subsidiary of IMAX Corporation, and was incorporated as a limited liability company under the laws of Cayman Islands. IMAX China was established by IMAX Corporation specifically to oversee the expansion of IMAX's business throughout Greater China. Shares of IMAX China trade on the Hong Kong Stock Exchange under the stock code "1970."

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. Streaming technology company SSIMWAVE, an IMAX subsidiary, is a leader in AI-driven video quality solutions for media and entertainment companies.

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2023, there were 1,711 IMAX systems (1,631 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." 

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SOURCE IMAX Corporation