Latest news with #DanielManwaring
Bloomberg
11 hours ago
- Business
- Bloomberg
Imax China CEO on Tariffs, Ne Zha 2 Impact
Imax China is aggressively adding screens across the country, betting on big local and US productions to boost its sales. Partner Wanda Film, China's largest movie exhibitor, is planning to replace 27 premium format screens with Imax's larger high-tech jumbo screens. In a wide-ranging conversation, Bloomberg's Stephen Engle discusses the impact of the trade war and Ne Zha 2 with CEO Daniel Manwaring. (Source: Bloomberg)
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
Imax adds China screens with Wanda, betting on blockbusters
Imax Corp.'s Chinese arm is aggressively adding screens across the country, betting on big local and US productions to boost its sales in the world's second-largest film market. Partner Wanda Film Holding Co., China's largest movie exhibitor, is planning to replace 27 premium format screens with Imax's larger high-tech jumbo screens in cities from Beijing to Xi'an, the companies said Monday. Imax China Holding Inc., which currently runs about 800 screens in China, drew a record 22 million moviegoers from January to May, up 106% from a year earlier, largely thanks to fantasy film 'Ne Zha 2.' The overall movie attendance in China rose about 27% in the same period, the firm said. Wanda operates more than 50% of China's Imax screens, Li Jinbo, assistant president of Wanda Film and general manager of Wanda's cinema chain, said at a corporate event in Shanghai. The cinema chain is seeking to boost the number of premium format auditoriums across the country, he said. Shares of Wanda Film rose 3.6%, while Imax China advanced 4.6%. China's movie industry has been facing a boom-and-bust cycle as many new titles produced during the pandemic years weren't released until 2023, raising box office sales to $7.7 billion. The following year, box office sales fell by 23%. While 'Ne Zha 2' has boosted ticket sales this year, film executives have raised concerns that other new titles may be hit by waning demand. Imax, however, is projecting that its attendance will keep growing as consumers seek larger screens to watch big productions with friends and family. 'If people choose to go to movie theaters, they're going to have to have a clear reason why,' Daniel Manwaring, head of Imax China, said in Shanghai. 'Is this a movie that deserves my time and money? Imax is the only company that is answering that question head-on. We guarantee the experience.' This summer, Imax is counting on Chinese and Hollywood titles such as the war epic 'Dongji Rescue,' directed by Guan Hu and Fei Zhenxiang, Universal Pictures' 'Jurassic World Rebirth' and Apple Inc.'s 'F1.' Walt Disney Co.'s 'Avatar: Fire and Ash' is expected to be released on Imax screens late this year. Imax China is also planning to release five local films shot on Imax cameras. Out of 73 films released on Imax screens in China last year, 34 were local, including at least two movies shot for Imax, according to the company. The company is seeking to maintain the balance between local and foreign films being released on its screens, Manwaring said. 'The film business needs to make movies sensational and big,' he said. 'At least in China, I am very optimistic about the long-term moviegoing audience.' Kim writes for Bloomberg.
Zawya
05-02-2025
- Entertainment
- Zawya
IMAX Soars to Highest Grossing Chinese New Year Ever with $53 Million
IMAX Box Office in China's Peak Moviegoing Period up +57% over Previous Best; Animated Blockbuster 'Ne Zha 2' Leads the Way with $36 Million and Counting NEW YORK, US and SHANGHAI, CHINA - Media OutReach Newswire - 5 February 2025 -IMAX Corporation (NYSE: IMAX) shattered its box office record for Chinese New Year, delivering $53 million during the 7-day holiday period concluded February 4. The busiest window annually for moviegoing in China, the 2025 Chinese New Year holiday saw IMAX exceed its previous record of $34 million set in 2023 by a whopping +57%. IMAX also delivered its highest attendance ever for the Chinese New Year, with 5.5 million admissions nationwide. While the holiday has concluded, IMAX's record-breaking slate of Chinese New Year films will continue to play throughout the IMAX China network for another month. IMAX delivered its highest market share of the holiday – 4.3% on only 1% of screens – and $7.3 million on the final day of the period, demonstrating the continued strength of the slate. "Chinese New Year unleashed one of the most impressive surges in moviegoing we've seen in recent years, anywhere in the world — leaving a slew of broken IMAX records in its wake," said Rich Gelfond, CEO of IMAX. "This is a shot of adrenaline for moviegoing in China that comes at just the right time, with a tentpole heavy slate of local language and Hollywood films ahead for 2025." Enlight's "Ne Zha 2" — the highly anticipated sequel to the 2019 smash hit — led the way with $36 million. The film scored the biggest opening weekend in IMAX history for an animated film with $22 million and is already the fourth highest grossing IMAX local language release of all time. "Ne Zha 2" took just seven days to top its predecessor "Ne Zha," which earned $35 million in China over its two-month IMAX run. Alibaba's fantasy "Creation of the Gods II: Demon Force" delivered $7.6 million and Bona's naval drama "Operation Hadal" added another $2.7 million in IMAX. Both films featured IMAX-exclusive expanded aspect ratio. China Film Group's martial arts actioner "Legend of the Condor Heroes: The Gallants" scored $3.7 million while Maoyan's "Detective Chinatown 1900" contributed an additional $2.7 million in IMAX. "The message from audiences is clear: IMAX is their first choice," said Daniel Manwaring, CEO of IMAX China. "Riding on a stronger-than-ever audience preference, IMAX has transformed moviegoing into a cultural phenomenon and a social talking point. We deeply value their brand loyalty and are confident that we can carry this momentum throughout what is poised to be one of the strongest years for Chinese local language films." With the 2025 Chinese New Year slate, IMAX continues to expand its strategy of bringing local language films to audiences around the world. "Creation of The Gods II: Demon Force" and "Detective Chinatown 1900" were also released in select IMAX locations across 11 countries worldwide, bringing in more than $1.2 million outside of China. "Ne Zha 2" will be shown exclusively in IMAX theaters in Australia and New Zealand beginning February 6 th. The Chinese New Year slate will continue to play in China for the next month, alongside Disney's "Captain America: Brave New World" and the re-release of the classic romance "In Mood for Love". Hashtag: #IMAX The issuer is solely responsible for the content of this announcement. 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. IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2024, there were 1,788 IMAX systems (1,714 commercial multiplexes, 12 commercial destinations, 62 institutional) operating in 89 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 You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube ( IMAX Corporation
Bloomberg
05-02-2025
- Business
- Bloomberg
IMAX China on Impact of Geopolitics on Film Industry
IMAX China CEO Daniel Manwaring says regulators in mainland China still want to grow the country's film industry and allow as many movies into the country as possible, despite tensions with the US. He speaks exclusively with David Ingles and Rebecca Choong Wilkins on "Bloomberg: The China Show" after the company logged record box office sales over the Lunar New Year holiday. (Source: Bloomberg)
