IMAX sets sights on record-breaking revenue in India
₹166 crore) this year. Blockbusters like Pathaan, Oppenheimer, and Jawan have contributed to these figures, accompanied by an expanded screen count, despite a few local titles, including Ponniyin Selvan: 2, falling short of expectations. In 2022, the company had earned $18.8 million from the Indian box office.
In contrast to 34 films released in the IMAX format last year, in 2023 it has been 39 titles, including six Indian films. Despite the challenges posed by the covid-19 pandemic, the company has increased its operational screens to 26 out of the installed 30, compared to 22 screens in 2022. The projected earnings of $20 million represent substantial growth compared to the pre-covid earnings of $15 million in 2019.
The company is also looking at standalone IMAX properties across the country while the average ticket price ranges around ₹360-370, a senior executive said. “The strong Hollywood line-up has played a big role in our business this year but from a local Indian perspective too, we’re asked for movies to be released in the IMAX format on an everyday basis and we try and accommodate all those that we can," Preetham Daniel, vice-president APAC (Asia Pacific), theatre development, IMAX Corp., told Mint in an interview. The upward trend began with James Cameron’s science fiction film Avatar-The Way of Water which made over ₹26 crore in the IMAX format when released last December.
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