Imax Corporation has reported significant growth across the Asia-Pacific markets, with robust expansion plans in Southeast Asia and a strong presence in local language content. The company’s footprint in Indonesia has doubled to 18 operational screens, with two more in the pipeline, accounting for 5% of the country’s box office revenue.
According to CEO Richard Gelfond, Southeast Asia, including Indonesia and Malaysia, are growing at a rapid pace, with Imax seeing immense potential for growth in the premium end of the market. The company has also seen success in other countries, such as South Korea, where its virtual K-pop concert film captured a significant percentage of the nationwide box office on just 25 screens.
Imax’s Asia-Pacific content slate has expanded significantly, with 61 local language films, documentaries, and live events in 2024 alone. The company remains optimistic despite recent market slowdowns in China, expecting stronger performance in 2025 driven by anticipated Lunar New Year releases.
India presents a mixed picture, but Imax’s premium positioning has helped it weather broader market challenges. The company has grown from three to 31 screens over the past decade and added six new screens in 2024. Japan remains a growth market, with 52 operational screens and nine in backlog, driven by local language content such as anime.
Imax cameras are seeing increased adoption globally, with four films currently in development in China. The company’s expansion has shifted from urban centers to suburban locations, following a deal with local exhibition giant Aeon Entertainment. Southeast Asia, including Vietnam and the Philippines, is also showing significant growth, with Imax remaining optimistic about its prospects in these markets.
Source: https://variety.com/2024/film/news/pushpa-2-imax-asia-expansion-1236242894