Imax CEO Makes Big Bet – The Hollywood Reporter

IMAX CEO Richard Gelfand predicts big box office in China and around the world for James Cameron’s long-awaited sequel Avatar: The Way of the Water.

Avatar And IMAX shares synergy, DNA, Gelfand said during Tuesday’s session at the Wells Fargo TMT Summit. He recalled that in 2010 IMAX had 250 theaters worldwide at the time and that his company had grossed nearly $250 million at the box office for the original. Avatar movie

Gelfond said he could not predict the final global box office Avatar: The Way of the Water, But the sequel will inevitably do disproportionately more business on IMAX screens as cinema-goers gravitate to his company’s premium, giant-screen experience.

The sequel opens on December 16 across 1,700 IMAX screens in 89 countries. Gelfand said pre-sales numbers. Avatar It won’t be made public yet, but he added: “It’s one of the highest pre-sale levels we’ve ever seen. So I’m very excited. Avatar Going to China.”

Disney and the 20th century movie opens in China on December 16, the same day it hits North American theaters. Avatar: The Way of Water It took a rare position in China for a Hollywood film since the pandemic began.

Cameron’s sequel lands in theaters worldwide after 13 years Avatar Made history in 2009, becoming the top-grossing film of all time at the global box office, which still holds the crown today with over $2.92 billion in ticket sales, unadjusted for inflation and including re-releases.

IMAX credits the 2010 release Avatar on its screens in China, turbocharging its brand’s expansion in that key Asian market. “There is no doubt that Avatar is a catalyst for innovation [theater] Signing and opening territories around the world,” Gelfand said at the investor conference.

In March 2021, when Imax rereleases the original Avatar In China, the film, technology company distributed 30 percent of the opening weekend box office, while IMAX had just 1 percent of screens in China.

Gelfand said at the Wells Fargo conference that China’s relaxation of its zero-COVID policy could boost the box office. Avatar sequel, but continued regional lockdowns could dampen business for the Hollywood tentpole. “It’s volatile … because if not enough people go, it’s definitely a risk,” the Imax CEO argued.

Gelfand said he hasn’t performed yet Avatar The sequel, however, touted its production values. “I have seen some technology and work [Cameron has] is over and it is a quantum leap from the first film and I think people will gravitate towards it,” he said.

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