IMAX 2018 box office receipts increase 16%

Box office receipts from IMAX screenings soared in China last year, with Chinese films accounting for more than 30 percent of the total proceeds.

IMAX China Holding Inc reported on Wednesday that the total box office receipts for IMAX screenings in China hit a record high of $337 million in 2018, up 16 percent year-on-year. Among all of the movies screened, Chinese-language films accounted for 30 percent of IMAX China's total box office, up from 24 percent last year.

"Over the past six months, our box office performance and revenue generating power of the network has been on the upswing ... We differentiated the IMAX experience, increased awareness of the IMAX brand and refined our programming strategy, which helped deliver our strongest box office year ever in China," said IMAX China Chairman Richard L. Gelfond.