Avatar a boon for IMAX

By IBTimes Staff Reporter | January 06 2010 12:35 PM

IMAX, which has positioned itself as a specialist in “immersive” movie technologies, reported that more than half of fourth quarter box office receipts showing its large format films came from blockbuster hit Avatar.

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The publicly traded company (Nasdaq:IMAX) said Monday it had reached $100 million in gross box office receipts worldwide in the fourth quarter for the first time in 2009. Of that, $54 million came from 'Twentietch Century Fox's Avatar: An IMAX 3D Experience.

We consistently delivered approximately 10% of the box office, on average, of any major title in our network this year on less than 3 percent of the screens, said Richard L. Gelfond, chief executive of IMAX Corp. We look forward to our 2010 film slate with great anticipation, and are pleased to kick off the year with the juggernaut, Avatar, which opens in China this week.

The box office receipts figures includes films using its IMAX DMR process which alters 35 mm film digitally so that it can fit on its 70 mm film format. The process removes graininess, increases brightness, sharpens images, and adjust colors.