IMAX reached a milestone in 2023 by grossing $1.06 billion at the global box office, only the second time in its history that it has passed the $1 billion mark. 2019 was the only prior year when the Toronto-based exhibitor exceeded this number, bringing in $1.1 billion. 2023 revenues came in 24.4% higher than those in 2022.
In 2023 IMAX played 98 new movies at its theatres, a record for the company. The diversified slate consisted of Hollywood blockbusters and international films with strong appeal in local markets, particularly in Asia where IMAX theatres posted their highest-ever totals in China, India, and Japan.
The top-grossing film of 2023 in IMAX theatres was Christopher Nolan’s OPPENHEIMER, which brought in $183.2 million for IMAX. Other high-earning Hollywood titles included Sony’s SPIDER-MAN: ACROSS THE SPIDER-VERSE, Paramount’s MISSION: IMPOSSIBLE – DEAD RECKONING PART ONE, and Disney’s AVATAR: THE WAY OF WATER.
These figures represent another proof point that IMAX may be best positioned among major global exhibitors as the industry recovers from the pandemic’s disruption of moviegoing. IMAX was the only exhibitor to have a higher 2023 box office than the annual average over the three years leading up to the pandemic.
While IMAX’s 2023 gross is 2% higher than its annual average from 2017-2019, the industry as a whole in 2023 had a 21% lower box office. Audiences are demonstrating their preference for the high-end, big-screen experience that large format screens provide over a more traditional movie house. Event films such as AVATAR: THE WAY OF WATER and OPPENHEIMER brought out large crowds to IMAX venues.
Other exhibitors with the resources to invest are installing IMAX and other large-format screens to appeal to this segment of moviegoers. IMAX Corporation is also posting record numbers of new installations of their technology at partner exhibitor locations.
Installation grew in the U.S. and most global markets, including France, Thailand, Indonesia, and Malaysia. Headed into 2024, IMAX has high expectations for DUNE: PART TWO, DESPICABLE ME 4, JOKER: FOLIE A DEUX, and DEADPOOL 3.