PRESS RELEASE

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NEW YORK - Feb. 1, 2016 -- IMAX Corporation (NYSE: IMAX) today announced a distribution and marketing partnership, which provides Discovery Communications' (NASDAQ: DISCA, DISCB, DISCK) flagship network Discovery Channel with 18 months of exclusive paid global television rights for up to 10 IMAX documentary films to be released through the IMAX Original Film Fund (Fund), following the titles' theatrical release across the IMAX institutional theatre network. The alliance marks IMAX's first television distribution agreement for original content.

Under the partnership agreement, Discovery Channel will air IMAX documentaries worldwide following their theatrical IMAX release, and consult on development, production and marketing. The IMAX Original Film Fund was established in 2014 to deliver new educational documentaries for the Company's institutional partners, which include many of the world's most prestigious museums, science centers and aquariums. The Fund will finance an ongoing supply of educational documentaries that push the envelope of traditional documentary filmmaking for a new generation of moviegoers.

"As content is created and consumed across multiple platforms we continue to innovate and look for new ways to maximize the reach of our original films. We are delighted to partner with Discovery to help us achieve this goal," said IMAX CEO Richard L Gelfond. "From content creation and capture to distribution and presentation, IMAX is a diversified company involved in every aspect of the entertainment ecosystem. As today's agreement shows, we will continue to invest in all parts of our business to drive long-term, sustainable growth and bring IMAX to more and more consumers worldwide."

"Discovery is dedicated to nourishing our global audiences with the most compelling and highest-quality content on the planet," said David Zaslav, President & CEO, Discovery Communications. "IMAX is a terrific company and partner, and we are proud to come together to ensure these important documentary films are given, through Discovery's unmatched global distribution platform, the expanded viewership they deserve."

"Both IMAX and Discovery have reinvested in our legacy business of producing family-focused entertainment - a responsibility that we both hold near and dear to our hearts," said Greg Foster, Senior Executive Vice President of IMAX Corp. and CEO of IMAX Entertainment. "This partnership is the coming together of two pioneering brands in the documentary space to deliver a new breed of IMAX original content to billions of viewers across Discovery's global networks following the initial exclusive IMAX theatrical release."

"This partnership signifies the importance that Discovery is placing on documentary filmmaking that spurs action. Working with IMAX, we can provide audiences multiple global platforms to experience these important stories," stated Rich Ross, Group President, Discovery Channel, Animal Planet, and Science Channel. "We are thrilled to be in business with IMAX to bring socially important films to the world."

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Kung Fu Panda 3 won the international box office with plus-sized victories in the world’s two largest film industries — the US where it bowed to an estimated $41.0 million and China where it opened to the largest opening weekend for an animated film with $58.3 million. In total, the threequel grabbed $75.7 million from 6 overseas markets.

China’s haul is impressive on paper, but many in the industry had predicted a much larger debut and DreamWorks Animation has been criticized in the local press for its choice of release date. Most Chinese travel home the weekend before the Lunar New Year and parents are too busy preparing for the holiday or visiting relatives to accompany their children to the cinema. Three potential blockbuster local films will open next Monday giving Panda a limited amount of time to run up its numbers.

South Korea opened to $11.4 million while Russia scored $5.1 million in its debut. Most territories will see openings in march.

The Revenant earned $24.3 million on 7,363 screens across 61 overseas markets, lifting its international total to $136.5 million and its worldwide total to $274.8 million. Top territories this weekend were UK/Ireland ($3.3M/$23.5M cume), Germany ($2.7M/$18.8M cume), Mexico ($2.1M/$9.1M cume), Italy ($2.1M/$12.1M cume), and South Korea ($1.4M/$12.7M cume). Openers this weekend include Holland ($1.2M), Belgium ($0.92M), Argentina ($0.9M), Sweden ($0.9M), Poland ($0.4M), Finland ($0.3M), Slovenia ($0.063M), Venezuela ($0.041M), and Lithuania ($0.032M).

Rolling into 6 new markets including Mexico ($1.7M on par with The Maze Runner and Divergent openings) and France ($2.4M on par with The Maze Runner), The 5th Wave grossed $13.0 million in 66 total overseas markets. Top market performances to date include Australia ($4.4M), Brazil ($3.4M), Russia ($3.1M), Germany ($2.8M), Malaysia ($2.3M), Spain ($2.3M), and the Philippines ($1.7M). The YA film has only grossed $45.1 million overseas and $65.3 million worldwide. Italy opens next weekend. 

Alvin and the Chipmunks: The Road Chip drove off with $12.8 million this frame. China had a 6-day $4.8 million opening. The sequel’s overseas total is $69.5 million and it has grossed $152.7 million worldwide.

Star Wars: The Force Awakens posted an estimated $12.6 million in its seventh weekend of overseas release from all territories worldwide. The film has grossed $83.3 million in Japan where it is the #1 Western release for the 7th consecutive weekend. Other top territories are: UK/Ireland ($176.4M), China ($121.1M), Germany ($106.1M), and France ($86.3M).

Creed grossed an estimated $7.5 million this weekend in 42 markets, bringing the overseas cume to $51.7 million and the global total to $160.4 million. Spain opened in first with $1.6 million while Mexico’s debut outperformed Rocky Balboa by 4% with $1.0 million. 

The Big Short grossed $6.8 million from 57 markets. Strong holdover territories include UK/Ireland ($1.4M/$4.3M cume), South Korea ($683K/$2.3M cume), Spain ($655K, $2.1M cume), Australia ($599K, $3.7M cume), and Venezuela ($510K/$1.5M cume).

Daddy’s Home opened this weekend in first place in Mexico with $2.1 million and in fourth place in Brazil with $767K. The Mark Wahlberg/Will Ferrell comedy grossed $6.4 million from 50 total overseas markets, bringing the international total to $67.6 million and the global tally to $210.6 million. Next week sees an opening in Venezuela. 

Ride Along 2 opened in several new territories this weekend including Sweden ($211K), Norway ($161K), German-Switzerland ($214K), Panama ($150K), and Peru ($127K). The buddy cop’s $5.1 million overseas weekend pushed the early international box office total to $17.8 million and the worldwide box office to $88.6 million. The Netherlands opens next weekend on February 4.

The Danish Girl expanded into 7 overseas markets for $2.7 million total this weekend with Russia ($95K) and New Zealand ($84K) leading the pack. The romantic drama has grossed $24.2 million overseas and $34.5 million worldwide. It opens next weekend in 9 territories including Denmark.

Joy mopped up $2.6 million taking its overseas cume to $39.8 million. Italy opened with $1.3 million on 323 screens. David O. Russell’s film has earned $95.1 million worldwide.

The Peanuts Movie picked up another $2.4 million from 31 holdover markets this weekend. The animation has earned $112.8 million overseas and $242.7 million worldwide. Top markets are UK ($14.3M), Germany ($9.2M), Brazil ($6.7M), and Australia ($5.6M).

Goosebumps pulled in an estimated $2.1 million from 13 total markets this weekend. The overseas total is now $54.7 million and the worldwide gross is $135.8 million. Spain claimed the #2 spot with $1.1 million from 350 screens. Germany, the UK, and France open next weekend.

Films earning less than $2 million overseas this weekend and local language films

The Finest Hours

Overseas Weekend: $1.6M

Overseas Total: $1.6M

Global Total: $11.9M

13 Hours: The Secret Soldiers of Benghazi

Overseas Weekend: $1.5M

Overseas Total: $1.5M

Global Total $44.1M

Point Break

Overseas Weekend: $1.1M

Overseas Total $87.9M

Global Total: $116.2M

Sisters

Overseas Weekend: $0.86M

Overseas Total: $15.1M

Global Total: $101.2M

Room

Overseas Weekend: $0.14M

Overseas Total: $0.41M

Global Total: $10.3M

L’Abbiamo Fatto Grosso (Italy)

Overseas Weekend: $3.8M

 

Overseas Total: $3.8M

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By Daniel Garris

Academy Award nominees for Best Picture, currently in limited release held up very nicely this weekend.

Paramount's The Big Short took in an estimated $3.00 million from 983 locations, for a per-location average of $3,052. The Adam McKay directed Best Picture nominee was down just 6 percent upon playing in 368 fewer locations this weekend than last weekend. In addition to continuing to benefit from awards season buzz and strong word of mouth, The Big Short (and holdovers in general) also benefited this weekend from last weekend's grosses being deflated by both Winter Storm Jonas and last Sunday's NFL Conference Championship Games. The Big Short passed the $60 million mark this weekend and has grossed $60.90 million in 52 days.

Fox Searchlight's Brooklyn took in an estimated $1.72 million from 748 locations, for a per-location average of $2,293. The John Crowley directed Best Picture nominee starring Saoirse Ronan was essentially unchanged from last weekend's performance, when it was playing in 214 more locations. Brooklyn passed the $30 million mark this weekend and has grossed $30.39 million through 87 days of release.

A24's Room grossed an estimated $1.22 million from 795 locations, for a per-location average of $1,532. The Lenny Abrahamson directed Best Picture nominee starring Brie Larson was down a slim 9 percent from last weekend, when it was playing in 67 more locations. Room is now on the verge of surpassing the $10 million mark with an 108-day take of $9.88 million.

Open Road's Spotlight performed similarly with an estimated $1.12 million from 715 locations, for a per-location average of $1,567. The Tom McCarthy directed Best Picture nominee starring Michael Keaton and Mark Ruffalo was down 12 percent from last weekend, when it was playing in 315 more locations. The 87-day total for Spotlight stands at $34.69 million.

In other Academy Award related box office news, ShortsHD's The 2016 Oscar Nominated Short Films opened with an estimated $505,000 from 112 locations, for a per-location average of $4,509. That was 21 percent stronger than the $416,850 debut of last year's The 2015 Oscar Nominated Short Films from 118 locations. Last year's collection of Academy Award nominated short films went on to gross $2.41 million during its entire domestic run.

Well Go USA's Ip Man 3 remained strong this weekend with an estimated $503,200 from 115 locations, for a per-location average of $4,376. The third installment of the Donnie Yen led martial arts series was down a solid 36 percent from last weekend's debut. Ip Man 3 has grossed $1.62 million in ten days of release. The film has already easily out-grossed the $205,675 total North America gross of 2011's Ip Man 2: Legend of the Grandmaster.

45 Years took in an estimated $472,000 from 94 locations, for a per-location average of $5,021. The critically acclaimed drama from IFC Films' Sundance Selects division, starring Charlotte Rampling and Tom Courtenay was up a terrific 195 percent over last weekend, when the film was playing in 55 fewer locations. 45 Years has grossed $1.25 million in 40 days.

Sony Pictures Classics' The Lady in the Van grossed an estimated $321,972 from 50 locations, for a per-location average of $6,439. The critically acclaimed Nicholas Hytner directed film starring Maggie Smith was up a healthy 84 percent upon expanding into an additional 20 locations this weekend. The Lady in the Van has grossed $743,265 through 17 days (and an additional one-week Oscar qualifying run back in early December).

Also of note this weekend was Rooster Teeth's Lazer Team. The sci-fi action-comedy took in an estimated $114,950 from 35 locations over the weekend, for a per-location average of $3,284. This weekend's performance came on the heels of the film's $1.01 million performance over the Tugg on-demand distribution platform on Wednesday and Thursday. Lazer Team has grossed $1.12 million to date and will receive an expansion next weekend.

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Sunday Update: Kung Fu Panda 3 easily led the box office this weekend with an estimated $41.0 million. However, the 3D computer animated sequel from Fox and DreamWorks Animation opened below expectations, which had been boosted a bit as a result of strong online pre-sales heading into the weekend. Kung Fu Panda 3 debuted 21 percent below the $52.11 million debut of last year's Home and 14 percent below the $47.66 million opening weekend take of 2011's Kung Fu Panda 2 (which was deflated a bit from opening on a Thursday). Without adjusting for ticket price inflation, Kung Fu Panda 3 did register the third largest January debut of all time (behind only American Sniper and Ride Along).

Kung Fu Panda 3 opened with $10.5 million on Friday, was up a strong 74 percent on Saturday to gross $18.3 million and is estimated to decline 33 percent on Sunday to gross $12.2 million. That places the film's estimated opening weekend to Friday ratio at 3.90 to 1. With no new family films going into wide release during the month of February, Kung Fu Panda 3 will have a strong chance of holding up well going forward. The film's strong A rating on CinemaScore is a good sign for Kung Fu Panda 3 going forward as well.

Fellow Fox release The Revenant placed in a distant second with an estimated $12.4 million. The Alejandro González Iñárritu directed western starring Leonardo DiCaprio was down a slim 23 percent, as holdovers in general benefited this weekend from last weekend's grosses being deflated by both Winter Storm Jonas and last Sunday's NFL Conference Championship Games. The Revenant continues to exceed expectations with $138.17 million after 24 days of wide release (and an additional two weeks of platform release). The film is currently running an impressive 28 percent ahead of the $108.01 million 24-day take of 2010's Shutter Island.

Disney's Star Wars: The Force Awakens claimed third place with an estimated $10.78 million. The seventh chapter of the Star Wars franchise was down just 23 percent from last weekend's deflated performance. This weekend's hold was especially impressive given that The Force Awakens was playing in 809 fewer locations this weekend than it was last weekend. With a record-breaking 45-day gross of $895.43 million, Star Wars: The Force Awakens is now just $4.57 million away from becoming the first film ever to reach the $900 million unadjusted domestic mark.

Fellow Disney release The Finest Hours followed closely behind in fourth place with an estimated $10.33 million debut. The 3D action drama starring Chris Pine debuted towards the higher end of its modest expectations, but performed softly with its price tag in mind. The Finest Hours opened 6.5 percent below the recent $11.05 million debut of In the Heart of the Sea. However, The Finest Hours is likely to hold up significantly better than In the Heart of the Sea did, thanks in part to not opening the weekend before The Force Awakens. The Finest Hours received a healthy A- rating on CinemaScore.

Ride Along 2 rounded out the weekend's top five with an estimated $8.35 million. Universal's PG-13 rated comedy sequel starring Ice Cube and Kevin Hart was down 33 percent, as the film held up much better this weekend than it did last weekend. Ride Along 2 has grossed $70.78 million in 17 days. That is below expectations and places the film 24 percent behind the $92.70 million 17-day take of 2014's Ride Along (which fell 43.5 percent in its third weekend to gross $12.04 million).

Last weekend's three new wide releases all held up nicely this weekend and all three films remained fairly bunched together. STX Entertainment's The Boy was down just 27 percent to take sixth with an estimated $7.89 million; Lionsgate's Dirty Grandpa declined 32 percent to follow in seventh with an estimated $7.58 million and Sony's The 5th Wave also fell 32 percent to land in eighth place with an estimated $7.00 million. Respective ten day grosses stand at $22.82 million for Dirty Grandpa, at $21.53 million for The Boy and at $20.19 million for The 5th Wave.

Meanwhile, Open Road's Fifty Shades of Black disappointed this weekend with an estimated ninth place start of just $6.19 million. The Marlon Wayans led R-rated comedy debuted below its already scaled back expectations and a very underwhelming 30 percent below the $8.84 million start of 2014's A Haunted House 2. Given the performances of Wayans' more recent films, Fifty Shades of Black is likely to fall off extremely quickly going forward. The film's lackluster C rating on CinemaScore won't do it any favors either.

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Saturday Update: Fox reports that DreamWorks' Kung Fu Panda 3 bowed to an estimated $10.5 million on opening day Friday, claiming first place in the process -- the first animated film to do so since October 1 (Hotel Transylvania 2's last day in that position). Unfortunately, that does fall slightly short of pre-release expectations (and south of Home's $15.7 million opening day last March). However, the long game should benefit the long-awaited second sequel in the franchise as strong word of mouth (89 percent on Flixster) and very positive reviews (79 percent on Rotten Tomatoes) are in its favor, in addition to a lack of any real competition until March's Zootopia. For opening weekend, BoxOffice projects a $37 million haul, followed by strong legs thereafter.

Disney's The Finest Hours debuted in second place on Friday with an estimated opening of $3.312 million. That's generally in line with the $3.63 million opening day of the studio's McFarland, USA last February. While in line with pre-release expectations, the big-budget film will certainly need to sprout strong legs in the long run. Early word of mouth appears mixed with a 69 percent Flixster score and 59 percent critics' rating. BoxOffice projects a $10 million opening weekend in fourth place.

The Revenant scooted down to third place on Friday with $3.22 million, off 30 percent from the same day last week. That brings the 12-time Oscar nominee's domestic tally up to an impressive $129 million and counting. This weekend should ring up around $12.1 million for a second place finish.

Star Wars: The Force Awakens took fourth place yesterday as it eased 30 percent from last Friday to $2.459 million. That brings the all-time domestic champ's running total up to $887.1 million now as it chases down its next benchmark of $900 million (which it will reach sometime next week). Look for another strong weekend around $10.4 million in third place.

The Boy filled out the top five yesterday with $2.31 million, down just 39.5 percent from its opening day last week. That's an impressive hold for most movies, especially in the horror genre, indicating healthy word of mouth among the target audience. The film has tallied $15.9 million in eight days of release as it heads toward a strong sophomore frame around $7.8 million.

Meanwhile, Fifty Shades of Black lived down to expectations with a $2.25 million opening day. By comparison, fellow Wayans-led spoof A Haunted House bagged a $6.8 million first day back in January 2013. Word of mouth (40 percent) and reviews (14 percent) are both in the cellar, so theatrical life will be short-lived. Look for an opening weekend around $6.3 million.

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Friday Update: Sources report that Disney's The Finest Hours grabbed an estimated $375,000 from Thursday night's first showings. By comparison, that bests the Thursday bows of McFarland, USA ($260,000) and Million Dollar Arm ($250,000) -- two other recent live action Disney films based on true stories. With the film taking over most IMAX locations this weekend from the studio's own Star Wars: The Force Awakens, premium screen grosses could help the film open somewhere between $12-15 million this weekend.

Meanwhile, Fifty Shades of Black pulled $275,000 from last night's shows. Unfortunately, the best comparison would be for the fellow Marlon Wayans-led A Haunted House movies, but neither of those received Thursday night openings. Rough projections have the comedic spoof pulling in between $8-11 million overall this weekend.

The headlining opener for the weekend, Kung Fu Panda 3, did not receive any Thursday night shows. This is becoming a fairly common practice even for high profile animated films as last year's Hotel Transylvania 2 and Fox's own The Peanuts Movie also opted out of Thursday night openings. Given the popularity of the Panda series through two films, very positive reviews for the new entry, the lack of NFL playoffs this weekend, and many east coast families looking to get out after being snowed in last weekend, we're very optimistic about Panda 3's opening weekend (not to mention potential for legs through February) having a shot at $50 million or more this weekend -- but an opening in the $40m+ range would be a great start regardless.

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By Daniel Garris

Fox's The Revenant took in $1.52 million on Thursday to remain in first place at the daily box office. The Alejandro González Iñárritu directed western starring Leonardo DiCaprio was down 4 percent from Wednesday and down just 29 percent from last Thursday. The Revenant was the week's top film with a weekly take of $22.58 million. That represented a 50 percent decline from the previous frame and brings the film's domestic total to an impressive $125.77 million through three weeks of wide release (and two additional weeks of platform release).

Disney's Star Wars: The Force Awakens held steady in second with $1.34 million. The seventh chapter of the Star Wars franchise increased 1 percent from Wednesday and decreased only 29 percent from last Thursday. The Force Awakens placed in second for the week with $19.61 million, which represented a 50 percent decline. The film continues to pad its total as the highest grossing film of all-time domestically with $884.64 million through six weeks of release. That leaves The Force Awakens just $15.36 million away from becoming the first ever the reach the $900 million domestic mark.

Dirty Grandpa grossed $0.949 million to remain in third place. The R-rated comedy from Lionsgate starring Robert De Niro and Zac Efron was down a slim 1 percent from Wednesday's performance. Dirty Grandpa placed in fourth for the week with a seven-day start of $15.25 million. The film is running towards the lower end of pre-release expectations and 32 percent behind the $22.43 million seven-day take of 2013's Last Vegas.

13 Hours: The Secret Soldiers of Benghazi continued to claim fourth place with $0.851 million. The Michael Bay directed action thriller from Paramount fell 7 percent from Wednesday and a solid 34 percent from last Thursday. 13 Hours took seventh place this week with $12.84 million. The film was down 46 percent from its opening week performance and has grossed $36.57 million in two weeks, which is a bit below expectations.

Ride Along 2 rounded out the day's unchanged top five with $0.824 million. Universal's PG-13 rated comedy sequel starring Ice Cube and Kevin Hart was down 3 percent from Wednesday and down a respectable 41 percent from last Thursday. Ride Along 2 took third place for the week with $16.28 million. The film was down a very sharp 65 percent from its opening week performance and is performing below expectations with $62.43 million in two weeks.

STX Entertainment's The Boy and Sony's The 5th Wave rounded out their respective first weeks of release with sixth and seventh place takes of $0.632 million and $0.598 million. For the week, The Boy placed in fifth with a seven-day start of $13.63 million, while The 5th Wave followed closely behind in sixth with a seven-day start of $13.19 million. Both films are performing towards the lower end of expectations and both films are likely limiting the potential of one another as a result of the overlap between their audiences.

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