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Twentieth Century Fox’s The Day The Earth Stood Still opens number one at the box office, shows strong performance in IMAX(R) theatres

December 15, 2008

LOS ANGELES, Dec. 15 /PRNewswire-FirstCall/ – IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Twentieth Century Fox today announced that The Day The Earth Stood Still, which opened number one at the domestic box office, generated an estimated $31 million, with 123 IMAX(R) theatres contributing approximately $3.7 million to http://ecmisapp:9090/editor/blockedit.HTM#the domestic total. From Friday, December 12, through Sunday December 14, the IMAX release generated an impressive per screen average of approximately $30,000. Included in the weekend’s performance were 38 locations equipped with IMAX’s new digital projection technology. The film also had a strong international opening, grossing $532,000 from 20 IMAX screens, and it will ultimately play on 26 international IMAX screens in the weeks to come.

“We’re very happy with the film’s overall performance for the weekend and, with 19 of the top 20 engagements having IMAX screens, its clear that more moviegoers are taking advantage of The IMAX Experience(R) to make the film an extra special event,” said Bruce Snyder, President, Domestic Distribution, Twentieth Century Fox. “We look forward to its continued success in both conventional and IMAX theatres throughout the holiday season.”

“This strong opening demonstrates that people are still going to the movies and are willing to pay a premium ticket price for The IMAX Experience, despite the economic downturn,” said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. “Twentieth Century Fox has once again delivered a box office winner during the holiday season, and we’re very pleased with the initial results at IMAX theatres. We’re particularly happy with the performance of our new joint venture digital locations, which are gaining a lot of traction, given the rapid pace of the rollout.”

“The exciting action and stunning visual effects in The Day the Earth Stood Still are very conducive to The IMAX Experience and, as a result, Twentieth Century Fox has enabled the IMAX network to be part of another number-one debuting movie at the box office,” said Greg Foster, Chairman and President of IMAX Filmed Entertainment. “The combination of the studio’s well-executed marketing and distribution plan,, the film’s appeal to the tech-savvy 15-30 year-old demographic and the larger footprint of IMAX theatres is proving to be an effective draw, which we believe bodes well for the IMAX network as we head into 2009.”

In THE DAY THE EARTH STOOD STILL, a contemporary reinvention of the 1951 science fiction classic, renowned scientist Dr. Helen Benson ( Jennifer Connelly) finds herself face to face with an alien called Klaatu ( Keanu Reeves), who travels across the universe to warn of an impending global crisis. When forces beyond Helen’s control treat the extraterrestrial as a hostile and deny his request to address the world’s leaders, she and her estranged stepson Jacob ( Jaden Smith) quickly discover the deadly ramifications of Klaatu’s claim that he is “a friend to the Earth.” Now Helen must find a way to convince the entity who was sent to destroy us that mankind is worth saving – but it may be too late. The process has begun.

About IMAX Corporation

IMAX Corporation is one of the world’s leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world’s best movie presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R), technology. IMAX DMR is the Company’s groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. IMAX’s renowned projectors display crystal-clear images on the world’s biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2008, there were 320 IMAX theatres operating in 42 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R), and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

This press release contains forward looking statements that are based on management’s assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company’s accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

SOURCE IMAX Corporation


Source: newswire