The concept of IMAX screens arrived in India around 20 years ago and since the last decade, it has taken the movie goers by storm. It became a must for many to watch large-scale movies on IMAX screens as it gave an incredible experience with its sound system and giant wall-to-wall screen. Avatar: The Way Of Water (2022), which was recently released, did very well in IMAX theaters, as expected. And recently, IMAX Corporation CEO Richard Gelfond, who was on his fourth trip to India, shared some interesting details and statistics.
Ahead of Pathaan’s release, IMAX CEO Richard Gelfond reveals Avatar: The Way Of Water grossed Rs. 32.65 crores from just 23 IMAX screens in India. RRR is one of the major films that boosted global IMAX revenue from regional language films
During an interaction with The Economic Times, he said that IMAX theater ticket collections in India have increased by 41% in 2022 compared to 2019. He also said that Avatar: The Way Of Water it is the highest grossing IMAX film in India. It has earned $4 million ie, an impressive Rs. 32.65 crores on IMAX screens in India. The box office collections till date have been nearly Rs. 368 crores in India. This means that about 10% of Avatar: The Way Of WaterIts earnings came from just 23 IMAX screens in India. Richard Gelfond also revealed that on average, each IMAX screen in the country in India earned around $900,000 (7.34 crores) in revenue in 2022.
He then talked about his expansion plans and that he has set a target of 100 screens for India. With 23 screens open, the IMAX group is poised to open 19 more screens soon, six of which will start operating in 2023 itself, with eventual plans to have 100 IMAX screens in the next five years. He also compared the scenario with China, where there are 800 IMAX screens with another 200 in the pipeline and observed that “India has come under enormous scrutiny. He has a long way to go.”
Until now, the strategy has been to convert a regular multiplex screen to an IMAX screen in existing multiplexes or reserve one for IMAX in upcoming multiplexes. But there will be a change in plans as Richard Gelfond wants to partner with single screen theaters and convert their properties to IMAX.
Meanwhile, in an interaction with Mint, Richard Gelfond revealed that regional language films are doing big business in IMAX and the numbers are improving with time. It admitted that in 2019, 2% of their box office earnings in India came from local content. But in 2022, it rose to 30%. In 2022, six Indian films were released in IMAX, and the number will double to 12 or 13 in 2023, Richard said. He also credited SS Rajamouli RRR (2022) as among the major films that helped boost global IMAX revenue from local language films.
Finally, it is the first IMAX release for Bollywood Pathan. It is all set to release tomorrow, January 25, 2023, and is expected to do big business in IMAX as evidenced by its strong ticket sales. Adipurushstarring Prabhas, will also release in IMAX on June 16, 2023. Last year, Ponniyin Selvan – Part 1 (2022) was released in the IMAX version. Its sequel, which will be released on April 28 this year, will also be released in the format, according to reports.
More pages: Pathaan Box Office Collection
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