With Box Office Surging, Entertainment Technology Company Sees Opportunity to Nearly Triple its Footprint in Dynamic French Market
With French box office surging, IMAX today unveiled ambitious plans for expansion in the country as it aims to nearly triple the number of IMAX systems from the 22 currently in operation to more than 60.
Underscoring the Company’s growth prospects in this dynamic cinema market and around the world, IMAX today announced an agreement with Belgian exhibitor Kinepolis for eight new and upgraded systems, including one new system in Nimes, France.
IMAX continues to drive strong momentum in France across box office, network growth, and its content portfolio.
IMAX at the French Box Office
- France has emerged as one of the strongest post-pandemic cinema markets in the world, and is currently a top ten global IMAX market in 2023 (#7)
- IMAX just delivered its best first quarter ever at the French box office with $9.3 million in Q1 2023 — on the heels of its highest grossing quarter of all time in France with $9.5 million in Q4 2022.
- Year to date in 2023, IMAX has already delivered more than 50% of what it did in 2019, its highest grossing year ever in France with $21.9 million.
IMAX Footprint in France
- IMAX currently has 22 locations in France, with another 7 new commercial systems and 1 institutional location contracted to open over the next several years.
- Sales of IMAX systems are booming in France, with the company expanding in the region with new exhibition partners including Kinepolis and Megarama post-pandemic.
- Cineum Cannes is one of IMAX’s global flagship locations and has served as an official screening venue for the Cannes Film Festival since opening 2021.
- Hollywood blockbusters are booming in France, where “Avatar: The Way of Water” gave IMAX its highest grossing film of all time in France with $13.5 million — more than triple the next highest grossing film.
- IMAX also continues to increase its pipeline of local French films, including 2022 “Notre Dame on Fire” — the first French film shot with IMAX cameras — and April 2023’s “The Three Musketeers: D’Artangan”, now the highest grossing French local language film ever for the Company.
- France is also one of the markets where IMAX has been most focused on delivering experiences beyond blockbusters, including “Indochine’s Central Tour”, the first concert ever recorded with IMAX cameras, which topped the French box office in November 2022.