Latest news with #ImaxChina
Los Angeles Times
16-06-2025
- 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.
Business Times
03-06-2025
- Entertainment
- Business Times
Tom Cruise's ‘Mission Impossible' tops China box office
[SEOUL] Tom Cruise's film is back on top in China. Mission: Impossible – The Final Reckoning posted the biggest opening for a US film in the country this year, defying trade and geopolitical tensions between Washington and Beijing. Paramount Global's eighth instalment in the action franchise earned US$25.2 million across 11,847 locations in China during the opening weekend, the studio said. The film has become the top-performing US release in the country for 2025, surpassing Warner Bros Entertainment's A Minecraft Movie which raised US$29 million since its Apr 4 debut, according to ticketing platform Maoyan. While the Final Reckoning opening is comparable to its 2023 predecessor, the latest film's performance stands out in a year when most US titles have struggled to gain traction in China. Minecraft opened with US$14.5 million, while Walt Disney's Thunderbolts and Lilo & Stitch brought in US$10.5 million and US$8.7 million, respectively, on opening weekend. Tickets for larger Imax screens accounted for 19 per cent of Final Reckoning's total box office revenue, Imax China said. That marked the highest Imax share ever for the franchise on both opening day and opening weekend, the company said. The solid performance of Cruise's new film, which he's said will be his last Mission: Impossible, suggests that Hollywood pictures have withstood rising tensions between the world's two largest economies. In April, Beijing said it would 'moderately reduce' the number of US films allowed into the market as part of a broader response to trade friction. While initial negotiations between Washington and Beijing began shortly after, talks have since stalled. The Mission: Impossible series, starring Cruise as secret agent Ethan Hunt, has long been emblematic of China's enthusiasm for Hollywood. In 2018 – when US films reached a peak share of the Chinese market – the sixth instalment of the franchise opened to around US$77 million in China. But that momentum slowed after the first Trump administration sparked off a trade clash, leading to fewer releases and diminished returns. Under the Chinese government's national agenda to boost consumption, China has been gradually allowing more foreign films in an effort to help stimulate spending while moviegoers are visiting theatres at malls. Imax China said its upcoming slate features several high-profile releases, including the fantasy epic How to Train Your Dragon by DreamWorks Animation and dinosaur adventure Jurassic World: Rebirth by Comcast's Universal Pictures as well as Warner Bros' Superman. BLOOMBERG
Yahoo
03-06-2025
- Business
- Yahoo
Tom Cruise's ‘Mission Impossible' Tops China Box Office
(Bloomberg) -- Tom Cruise's film is back on top in China. Mission: Impossible – The Final Reckoning posted the biggest opening for a US film in the country this year, defying trade and geopolitical tensions between Washington and Beijing. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania At London's New Design Museum, Visitors Get Hands-On Access Paramount Global's eighth installment in the action franchise earned $25.2 million across 11,847 locations in China during the opening weekend, the studio said in a statement. The film has become the top-performing US release in the country for 2025, surpassing Warner Bros Entertainment Inc.'s A Minecraft Movie which raised $29 million since its April 4 debut, according to ticketing platform Maoyan. While the Final Reckoning opening is comparable to its 2023 predecessor, the latest film's performance stands out in a year when most US titles have struggled to gain traction in China. Minecraft opened with $14.5 million, while Walt Disney Co.'s Thunderbolts and Lilo & Stitch brought in $10.5 million and $8.7 million, respectively, on opening weekend. Tickets for larger Imax screens accounted for 19% of Final Reckoning's total box office revenue, Imax China said. That marked the highest Imax share ever for the franchise on both opening day and opening weekend, the company said. The solid performance of Cruise's new film, which he's said will be his last Mission: Impossible, suggests that Hollywood pictures have withstood rising tensions between the world's two largest economies. In April, Beijing said it would 'moderately reduce' the number of US films allowed into the market as part of a broader response to trade friction. While initial negotiations between Washington and Beijing began shortly after, talks have since stalled. The Mission: Impossible series, starring Cruise as secret agent Ethan Hunt, has long been emblematic of China's enthusiasm for Hollywood. In 2018 — when US films reached a peak share of the Chinese market — the sixth installment of the franchise opened to around $77 million in China. But that momentum slowed after the first Trump administration sparked off a trade clash, leading to fewer releases and diminished returns. Under the Chinese government's national agenda to boost consumption, China has been gradually allowing more foreign films in an effort to help stimulate spending while moviegoers are visiting theaters at malls. Imax China said its upcoming slate features several high-profile releases, including the fantasy epic How to Train Your Dragon by DreamWorks Animation and dinosaur adventure Jurassic World: Rebirth by Comcast Corp.'s Universal Pictures as well as Warner Bros.' Superman. (Updates with data from Imax China starting in third paragraph.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
