LOS ANGELES, Oct. 25, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Paramount Pictures today announced that PARANORMAL ACTIVITY 2, the follow-up to the hit supernatural thriller released in 2009, opened no. 1 at the box office this weekend, with the film's IMAX release contributing approximately $2.5 million to the overall gross of $41 million from 151 IMAX screens. Internationally, the IMAX release generated approximately $120,000 from 5 IMAX French screens with more international IMAX runs to follow as additional territories open the film. The film's limited IMAX release has been digitally re-mastered into the image and sound quality of The IMAX Experience® with IMAX DMR® technology.
"We're pleased with our weekend results, particularly given our late participation in the release," said IMAX CEO Richard L. Gelfond. "Our digital theatre network has enabled us to capitalize on an exciting film between previously scheduled IMAX releases, and this title is not only generating incremental revenue but providing IMAX fans with a unique experience that wouldn't have existed otherwise."
Said Greg Foster, Chairman and President of IMAX Filmed Entertainment, "The picture was well reviewed, there's good buzz surrounding the film, and we're optimistic that it will continue to deliver solid results in IMAX® theatres leading into Halloween weekend."
About Paranormal Activity 2
From Paramount Pictures, PARANORMAL ACTIVITY 2 is produced by Jason Blum and Oren Peli with a story by Michael R. Perry and screenplay by Michael R. Perry, Christopher Landon, and Tom Pabst. The movie is directed by Tod Williams.
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX® 3D, and IMAX DMR® technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience®. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of June 30, 2010, there were 447 IMAX theatres (325 commercial, 122 institutional) operating in 47 countries.
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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 ( www.facebook.com/imax ), Twitter (www.twitter.com/imax) and YouTube ( www.youtube.com/imaxmovies ).
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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. 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.
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