IMAX has faced losses during the 3rd quarter of 2022 due to “a temporary slowdown in the Hollywood pipeline”. However, the CEO of IMAX, Rich Gelfond, cited that local language movies like Dragon Ball Super Super Hero from Japan and Indian Telugu language movie RRR has increased the exportability of local films.
He further added that they have only scratched the surface of the potential of regional language movies. Since earlier people used to view IMAX as a platform for Hollywood movies only, he explained.
He further stated that in Japan alone IMAX’s per screen average for the last 12 months is $1.9 million.
He also added that Demon Slayer Mugen Train and Evangelion: 3.0 + 1.0: Thrice Upon A Time are top-performing IMAX movies in Japan.
He further added that, approximately 30% of IMAX’s worldwide box office came from local language movie. They will also be targeting 30 to 40 local language movies to be released globally in 2023
In the third quarter, approximately 30% of IMAX’s global box office was derived from local language films. The company is targeting 30 to 40 local language releases worldwide in 2023.