LOS ANGELES, June 1, 2011 (GLOBE NEWSWIRE) -- IMAX Corporation (NYSE:IMAX) (TSX:IMX), DreamWorks Animation SKG, Inc. (Nasdaq:DWA) and Paramount Pictures announced today that the international IMAX® 3D release of Kung Fu Panda 2 posted strong opening weekend results, generating approximately $1.6 million from 53 IMAX screens. The film's IMAX per screen average was $30,188.
"These results continue to reflect the strong and growing appetite for The IMAX Experience® internationally, and the weekend demonstrates that with the right movie, our growing network delivers growing results for our studio partners," said IMAX CEO Richard L. Gelfond. "This result is particularly encouraging in China, our largest and fastest growing international market, where the film shared screen time 50/50 with another film, opened on Saturday instead of Friday, and still generated a very healthy per-screen average of over $33,000."
"Our longtime partners at DreamWorks Animation and Paramount Pictures International have delivered an exciting 3D sequel to this successful franchise that resonates well with our international audiences," added Greg Foster, Chairman and President, IMAX Filmed Entertainment. "This weekend demonstrates how we are delivering on our commitment to providing a range of high-quality entertainment to our exhibition partners, and we're looking forward to the rest of this run which will ultimately play on 42 additional IMAX screens internationally."
Kung Fu Panda 2: An IMAX 3D Experience has been digitally re-mastered into the image and sound quality of The IMAX Experience with proprietary IMAX DMR® (Digital Re-mastering) technology for presentation in IMAX 3D. The crystal-clear images, coupled with IMAX's customized theatre geometry and powerful digital audio, create a unique immersive environment that will make audiences feel as if they are in the movie.
About Kung Fu Panda 2:
From DreamWorks Animation—the studio that brought you "How to Train Your Dragon," "Shrek," and the Academy Award®- and Golden Globe®-nominated "Kung Fu Panda"—comes the latest adventures of one of the most unlikely heroes ever to transition from noodle shop employee to kung fu master.
In "Kung Fu Panda 2" Po (JACK BLACK) is now living his dream as The Dragon Warrior, protecting the Valley of Peace alongside his friends and fellow kung fu masters, The Furious Five: Tigress (ANGELINA JOLIE); Monkey (JACKIE CHAN); Mantis (SETH ROGEN); Viper (LUCY LIU); and Crane (DAVID CROSS). Also returning is DUSTIN HOFFMAN as the kung fu guru and Po's mentor, Master Shifu, and JAMES HONG as Mr. Ping, Po's father and owner of the most popular noodle shop in the village.
Po's new life of awesomeness is threatened by the emergence of a formidable villain, Lord Shen (GARY OLDMAN), who plans to use a secret, unstoppable weapon to conquer China and destroy kung fu. Po must look to his past and uncover the secrets of his mysterious origins—only then will he be able to unlock the strength he needs to succeed.
Additional new cast members include MICHELLE YEOH as the Soothsayer in service to Lord Shen, whose visions of the future play a key role in the destiny to come; DANNY MCBRIDE as Shen's minion, the Wolf Boss; and DENNIS HAYSBERT as Master Storming Ox. The cast also features action superstar JEAN-CLAUDE VAN DAMME as Master Croc and VICTOR GARBER as Master Thundering Rhino.
The film is directed by JENNIFER YUH NELSON. It is produced by MELISSA COBB. The co-producers are JONATHAN AIBEL, GLENN BERGER and SUZANNE BUIRGY. It is written by JONATHAN AIBEL & GLENN BERGER. The music is by HANS ZIMMER and JOHN POWELL.
This film has been rated PG for sequences of martial arts action and mild violence.
About IMAX Corporation:
IMAX Corporation is one of the world's leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry's top filmmakers and studios are utilizing IMAX® theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company's new digital projection and sound systems - combined with a growing blockbuster film slate - are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX theatres deliver the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR (Digital Re-Mastering) technologies. IMAX DMR enables virtually any motion picture to be transformed into the unparalleled image and sound quality of The IMAX Experience.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo and Shanghai. As of March 31, 2011, there were 528 IMAX theatres (408 commercial, 120 institutional) operating in 46 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (), Twitter () and YouTube ().
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This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and investigation by the SEC and the ongoing inquiry by the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
About DreamWorks Animation:
DreamWorks Animation creates high-quality entertainment, including CG animated feature films, television specials and series, live entertainment properties and online virtual worlds, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE(r) Magazine for three consecutive years. In 2011, DreamWorks Animation ranks #10 on the list. All of DreamWorks Animation's feature films are now being produced in 3D. The Company has theatrically released a total of 22 animated feature films, including the franchise properties of Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
CONTACT: Entertainment Media: IMAX Corporation - Santa Monica Rebecca Klein 310-255-5656 rklein@imax.com Principal Communications Group - Los Angeles Melissa Zukerman/Paul Pflug 323-658-1555 melissa@pcommgroup.com paul@pcommgroup.com DreamWorks Animation Publicity Jeff Hare 818-695-6055 jeff.hare@dreamworks.com Investors: IMAX Corporation - New York Heather Anthony 212-821-0121 hanthony@imax.com Business Media: IMAX Corporation - New York Ann Sommerlath 212-821-0155 asommerlath@imax.com Sloane & Company - New York Whit Clay 212-446-1864 wclay@sloanepr.com DreamWorks Animation Corporate Communications Shannon Olivas 818-695-3658 shannon.olivas@dreamworks.com
