Studio's Latest Action-Adventure Posts Highest Grossing Worldwide IMAX Opening
Weekend for an Animated Motion Picture
Box Office Pattern Confirms Strong Word of Mouth
LOS ANGELES, March 29, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that the IMAX release of How to Train Your Dragon, the latest 3D action-adventure from DreamWorks Animation SKG, Inc. (Nasdaq:DWA), which features the voices of Jay Baruchel, Gerard Butler, Craig Ferguson, America Ferrera and Jonah Hill, generated approximately $4.9 million of the film's $43.7 million overall domestic gross box office from Friday, March 26 through Sunday, March 28, which represents approximately 11.2% of the film's total weekend take while playing on approximately 3% of the screens showing the film.
Internationally, the IMAX release generated approximately $788,000 from 38 IMAX screens during the weekend, for a global weekend total of approximately $5.6 million, which marks a new IMAX record for the global opening of an animated motion picture. To date, the IMAX release of the film has grossed approximately $6.1 million worldwide, reflecting several territories that opened the film last week. The film is expected to play in approximately 80 international IMAX® theatres over the course of its run.
"The 3D release of How to Train Your Dragon is off to a great start and the strong opening weekend results demonstrate the global consumer desire to experience it in IMAX® 3D," said Jeffrey Katzenberg, CEO of DreamWorks Animation. "We're looking forward to continued success with IMAX during the coming weeks."
"DreamWorks Animation continues to produce captivating films that moviegoers love to experience in IMAX," said IMAX CEO Richard L. Gelfond. "The positive reviews, encouraging exit surveys and IMAX box office results reflect continued consumer enthusiasm for high-quality 3D entertainment, and we're delighted to be a part of it."
"DreamWorks Animation has delivered a fun, exciting and heartfelt adventure that is ideally suited to The IMAX Experience® and the box office pattern during the weekend suggests word of mouth is quite positive," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "The film is scheduled to open on additional IMAX screens internationally, and we believe it is poised to show strong legs as we head into the holiday week ahead."
The special IMAX 3D release has been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience with IMAX DMR® (Digital Re-Mastering) technology.
From the studio that brought you Shrek, Madagascar, and Kung Fu Panda, comes How to Train Your Dragon. Set in the mythical world of burly Vikings and wild dragons, and based on the book by Cressida Cowell, the action comedy tells the story of Hiccup, a Viking teenager who doesn't exactly fit in with his tribe's longstanding tradition of heroic dragon slayers. Hiccup's world is turned upside down when he encounters a dragon that challenges him and his fellow Vikings to see the world from an entirely different point of view.
How to Train Your Dragon is based on the book by Cressida Cowell and is directed by Chris Sanders and Dean DeBlois and produced by Bonnie Arnold. The film features the voices of Jay Baruchel, Gerard Butler, Craig Ferguson, America Ferrera, Jonah Hill, Christopher Mintz-Plasse, Craig Ferguson, TJ Miller and Kristen Wiig.
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 December 31, 2009, there were 430 IMAX theatres (309 commercial, 121 institutional) operating in 48 countries.
IMAX®, IMAX® 3D, IMAXDMR®, Experience It In IMAX®, AnIMAX 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 (http://www.youtube.com/imaxmovies">www.youtube.com/imaxmovies).
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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® Magazine for two consecutive years. In 2010, DreamWorks Animation ranks #6 on the list. All of DreamWorks Animation's feature films are now being produced in 3D. The Company has theatrically released a total of 18 animated feature films, including the franchise properties, Shrek, Madagascar and Kung Fu Panda. DreamWorks Animation's three feature film releases in 2010 are How to Train Your Dragon, Shrek Forever After and Megamind.
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.
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.