LOS ANGELES -- IMAX Corporation (NYSE:IMAX; TSX:IMX), and Marvel Entertainment, a division of The Walt Disney Company (NYSE: DIS), today announced that Marvel's Iron Man 3, the latest installment of the film franchise that has grossed more than $1.2 billion at the global box office, will be digitally re-mastered into the immersive IMAX® 3D format and released to IMAX® theatres internationally starting April 25 and domestically on May 3.
Marvel's Iron Man 3 marks the fourth Marvel Entertainment film to be presented in IMAX theatres, following the releases of Iron Man 2 in 2010, Thor in 2011 and Marvel's The Avengers in 2012 - which all delivered record breaking performances in IMAX theatres.
"Marvel and IMAX are a perfect one-two punch and the Iron Man franchise has become a global phenomenon that resonates with fans around the world," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "We look forward to moviegoers experiencing this highly-anticipated next installment of Tony Stark's latest adventures in IMAX 3D."
"With Iron Man 3 building on the events of Marvel's The Avengers, audiences are in for yet another incredible moviegoing experience from Marvel Studios," said Dave Hollis, Executive Vice President of Motion Picture Distribution for The Walt Disney Studios. "We're thrilled to be able to offer that to fans in the larger-than-life action of IMAX 3D."
The IMAX 3D release of Marvel's Iron Man 3 will be digitally re-mastered into the image and sound quality of The IMAX Experience® with proprietary IMAX DMR® (Digital Re-mastering) technology. The crystal-clear images, coupled with IMAX's customized theatre geometry and powerful digital audio, create a unique environment that will make audiences feel as if they are in the movie.
The official press release from the IHS Screen Digest Cross Platform Movie Market Monitor:
Worldwide consumer spending on movies increased by $1.3 billion in 2012 following tepid growth a year earlier, according to an IHS Screen Digest Cross Platform Movie Market Monitor from information and analytics provider IHS (NYSE: IHS).
Total worldwide consumer spending on motion pictures in 2012 reached $62.4 billion, up from $61.1 billion in 2011 and $60.1 billion in 2010. Last year's rate of increase amounted to 2.1 percent, demonstrably better than the 0.9 percent growth experienced in 2011. Most important, growth for consumer spending on movies worldwide is recovering after declines across 2008 and 2009, with spending forecast to continue to rise by 2 to 3 percent every year from 2013 to 2016.
"Consumers were tracked on their movie spending and consumption across 37 countries in five different global regions via four delivery platforms," said Tania Loeffler, analyst for video at IHS Screen Digest. "These platforms include theaters; the purchase and rental of physical disks on DVD and Blu-ray; pay-TV video-on-demand (VOD); and digital retail buys and rentals."
Growth in 2012 was generated by the Asia-Pacific region, which commanded a 25 percent share of worldwide movie spending, the third-largest after North America and Western Europe, as shown in the attached figure. With new cinema construction in markets such as China driving increased movie transactions, coupled with the popularity of higher-priced premium content, the amount of money that Asia-Pacific consumers spend on going to the cinema is rising rapidly. That amount last year equated to $10 billion, up 12 percent from 2011.
Asia-Pacific is poised to overtake Western Europe as the second-largest region for consumer spending on movies by 2016. An important consideration is that a significantly higher proportion of locally produced movie content is consumed in Asia-Pacific, especially in countries such as India and China. Western Europe currently owns a 26 percent share.
North Americans remained by far the biggest spenders on movies at about $80 per capita per year, and accounting for 41 percent of worldwide movie spending in 2012. As in Western Europe, spending on physical media encompassing DVDs and Blu-ray Discs alike are pulling down the North America total for movie spending, even as consumers in the region increase their spending on movies consumed on digital platforms and in cinemas.
Consumer spending on movies increased significantly in other regions-by 17 percent in Central and Eastern Europe, and by 7 percent in Latin America. Ultimately, however, these markets still remain very small, with only an 8 percent combined share of worldwide spending in 2012.
Theatrical is key driver of consumer spending growth worldwide. Worldwide consumer spending on theatrical grew 7 percent from 2011 to reach $33.4 billion in 2012. Across all five territories, consumers overwhelmingly demonstrated that the cinema experience remains the most desirable way to consume movies, with theatrical accounting for 53 percent of all movie transactions.
In contrast to theatrical, consumption and consumer spending on movies-either purchased or rented on physical discs-declined again, from $24.4 billion in 2011 to $23.7 billion in 2012, down -3 percent. The worldwide decline is forecast to continue for both DVD and Blu-ray purchases and rentals, with rentals projected to overtake physical purchase as the second-largest generator of worldwide consumer spending on movies.
"Unlike theatrical, physical media is subject to competition on price, inherent to retail in all environments," Loeffler said. Average pricing for physical purchase transactions has continuously fallen, declining by a further 2 percent between 2011 and 2012. This trend, along with the increased dominance of lower-value rental transactions, will result in physical media struggling to maintain its share of worldwide movie spending. Physical media is forecast to lose a 10 percent share of total worldwide consumer spending, from 39 percent in 2012 to 29 percent by 2016. Even so, physical will still account for a combined 31 percent of total worldwide movie transactions by 2016.
The preference for physical rental among consumers is translating into the digital space. This is true even in regions like Western Europe, where physical purchases traditionally dominated physical video transactions. On the whole, TV-based Video-on-Demand (VOD) and digital rentals from over-the-top services such as Apple's iTunes vastly outpaced the number of digital movies purchased in 2012. Pay-TV VOD transactions rose 16 percent in 2012 to reach 685 million in number, while digital rentals grew 61 percent to reach 174 million. In comparison, digital purchase transactions climbed to just 52 million.
Total consumer spending on buying and renting movies on digital platforms continued to see strong growth, climbing to $4.9 billion in 2012. However, total digital movie spending accounts for just 7 percent share of worldwide movie expenditures.
Django Unchained is off to a great start with $48.1 million in 54 markets. Globally, Django has $186.5 million in the bank. Key stats from Sony, the film's overseas distributor:
DJANGO opening is 30% bigger than the aggregated opening weekends of INGLOURIOUS BASTERDS in the same 54 markets ($37.02 million). In all, 23 of the 38 individual markets we tracked opened at #1 with just about all of them exceeding the opening of INGLOURIOUS BASTERDS.
Top markets: GERMANY launched with $9.6 million, #1 in the market and 2½ times the opening of INGLOURIOUS. FRANCE opened with $7.3 million, also #1 and 25% bigger than INGLOURIOUS. RUSSIA earned $5.4 million, #2 in the market behind HANSEL AND GRETEL... and more than double INGLOURIOUS. The UK bowed with $4.8, 2nd in the market behind LES MIZ and 54% more than the F-S-S of INGLOURIOUS. ITALY grossed $4.3 million, #1 in the market and 62% bigger then INGLOURIOUS, SPAIN tallied $3.3 million, #1 in the market and 13% less than INGLOURIOUS, AUSTRIA launched with a big $1.3 million, 68% better than INGLOURIOUS, and SWITZERLAND also bowed at #1 with $1.3 million, which is 64% more than INGLOURIOUS' standard opening weekend.
Life of Pi took in another $20.7 million from 7,944 screens in 66 markets, pushing its overseas cume to $393.9 million. Globally, the drama is up to $493 million. Key stats from Fox:
In Australia, the film has retained the top position for three weeks straight earning $2.9m with a $20m cume. The three-week-feat was repeated in Chile; while in Peru it has done it for four weeks straight. Other notable holdovers were in the UK where it made $2m taking the cume there to $39m. In Mexico, the film was #1 with $1.7m, dropping a mere 10%. The international cume stands at a healthy $393.9m, where it is poised to sail past $400m any day now.
Les Miserables grossed an estimated $19.4 million at 2,900 dates in 29 territories this weekend for an overseas cume of $150.5 million. Combined with the domestic estimated gross of $130.4 million, the global total is $280.9 million as of today. The musical will pass $300 million globally this coming week. Key stats from Universal:
LES MIS opened in 7 territories this weekend and the results are great with No. 1 openings in Estonia, India, Indonesia, Norway and Philippines and strong No. 2 openings in South Africa and Sweden.
Philippines broke records on its opening weekend as the biggest musical, biggest opening for Tom Hooper and Russell Crowe and the biggest January opening for Universal in this market.
In the U.K. and Ireland, LES MIS is holding at No. 1 for the second week in a row with a weekend estimate of $7.4M (£4.6M) at 600 dates for a 10-day total of $28.3M (£17.5M).
In Japan, LES MIS placed 2nd behind the opening of TED. LES MIS grossed an estimated $2.4M at 356 dates this weekend for an outstanding 31-day total of $38.5M.
In Korea, LES MIS is holding at No. 4 with $2.3M at 341 dates in its 5th weekend for a total of $36.5M. LES MIS admissions total 5.33M, which is 10% of the population of South Korea. We opened in IMAX this weekend and the results are great and the audiences are applauding at the end of all shows.
Australia moved up a spot to No. 4 on Sat. The weekend estimate is $1.8M at 247 dates for a 26-day total of $21.4M.
New Zealand is holding strong at No. 1 for the second week in a row with $510k at 77 dates for an 11-day total of $1.5M.
We have 35 territories to open over the next few months. Next week, we open in Croatia, Iceland, Poland and Romania.
Jack Reacher added another $11.8 million from 5,744 locations in 58 countries. The overseas total is now $98.8 million. Globally, Jack Reacher is sitting at $176 million. Key stats from Paramount:
• Korea was the new opening with an estimated solid $3.3M from 415 locations and taking the 2nd place at the local Box Office.
• Russia's second weekend is estimated at $1.2M, bringing the cume to $4.6M.
• Australia's 3rd weekend is estimated at $960k from 216 cinemas. The cume is now at $7.8M.
• France's 4th weekend made $700k from 610 locations. The cume is now $11.3M.
• The 2nd weekend in Spain made $695k from 320 cinemas, bringing the local cume to $2.5M.
• Germany's 3rd weekend made $575k from 504 cinemas pushing the cume to $5.3M.
• Brazil added $550k on the 2nd weekend; the cume after 10 days is $2.2M
• Mexico is estimated to deliver $521k on the 3rd weekend from 424 cinemas, pushing the cume to $3.8M.
• The 4th weekend in the UK is estimated at $405k from 260 cinemas. The cume is now at $14.8M.
Wreck-It Ralph took in another $8.2 million from 60 territories. The overseas cume is now $173.4 million. Globally, the animated flick is up to $354.2 million.
Hansel and Gretel: Witch Hunters grabbed $7.3 million in Russia from 650 locations in four days. That puts the opening 59% above the opening of Abraham Lincoln: Vampire Hunter, 349% above Red Riding Hood and 22% above Underworld: Awakening. 98% of the box office is from 3D screens.
Next weekend, Hansel and Gretel will hit the following territories: Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Paraguay, Peru, Trinidad, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, Vietnam and Bulgaria.
Lincoln debuted to $3.3 million from 605 screens in 3 markets. The historical drama expands to 19 new markets next weekend including Brazil, Germany, Italy, Russia and the UK.
Gangster Squad took in $5.7 million from 1,530 screens in 24 territories, pushing its overseas cume to $19 million. The global total is now $51.2 million. Key stats from WB:
New Zealand grossed a very good NZ$373k (US$314k) including previews with 31k admissions from 52 screens nationwide. The results were 108% ahead of ARGO and 96% ahead of THE TOWN.
Argentina grossed Ps 1.2m (US$243k) with 37k admissions from 80 screens nationwide. These are good #'s - 50% ahead of THE TOWN and 35% ahead of ARGO, and also exceeding the openings of DEPARTED, AMERICAN GANGSTER, and COLLATERAL amongst others.
Key Market Holdovers
Australia (2nd w/e) A$1.5m (US$1.6m) with 117k admissions from 205 screens nationwide. This represents an excellent drop of 34% from the previous weekend and the cume is A$4.7m (US$5.0m).
In the UK, the industry was affected by freezing temperatures and extreme weather conditions. GS grossed an estimated £820k (US$1.3m) from 414 situations nationwide. The drop is 55% for a cume of £3.9m (US$6.3m).
The Last Stand, Arnold Schwarzenegger's first star vehicle since 2003's Terminator: Rise of the Machines, won't even hit $10 million over the four-day Martin Luther King Jr. holiday weekend. That makes it an early contender for a spot on the "Biggest Bombs of 2013" list.
So what went wrong?
For starters, Schwarzenegger should have taken some advice from Sylvester Stallone. Stallone was able to resurrect his career by bringing back beloved characters so that fans would come rushing back. 2006's Rocky Balboa became a solid $155.7 million global hit, and Stallone followed it with Rambo, a respectable $113.2 million global success. Stallone then wisely assembled a cast of aging action heros for his two Expendables films. The Expendables grossed $273 million globally and Expendables 2 improved upon that with $312.6 million. On February 1, Stallone will hit theaters again in Bullet to the Head--a film that isn't part of an established franchise--and he's poised to stumble. Boxoffice.com is currently predicting that the action flick won't gross more than $20 million during its domestic run. Imagine if Bullet to the Head was Stallone's comeback film. We would be writing the same thing about him that we are writing about Schwarzenegger now.
The lesson here is that Schwarzenegger should have held out for an established property instead of assuming that people would pay to see him in just any film. Even a sequel to Jingle All the Way or Kindergarten Cop would have been welcomed with more enthusiasm than The Last Stand.
The material also hurt Schwarzenegger. To be blunt, The Last Stand looks like a movie that could have ended up as a straight-to-video release in 1989. It feels dated, and not in a good way. Stallone showed that you can bank on nostalgia for '80s actions flicks without feeling like a relic at the same time. Schwarzenegger didn't take that one to heart either.
So does the failure of The Last Stand mean that Schwarzenegger's career is over? Of course not. It just doesn't bode well for the two films he has coming out next: The Tomb and Ten. Both films aren't based on established properties. Our advice: get Terminator 5, Triplets or The Legend of Conan made as quickly as possible.