Rebecca Davis editorDespite its emphasis on Asian representation and Southeast Asian themes, Disney’s “Raya and the Last Dragon” failed to soar in China, coming in third with just $8.4 million, according to Maoyan data.
16.02.2021 - 19:34 / deadline.com
Exhibition stocks, paced by Imax, are moving higher as investors react to explosive weekend box office in China and a belief that Stateside theaters may soon see a similar release of pent-up demand.
Imax shares rose 6% to $19.81 in the early hours of trading. AMC gained almost 3% to $5.78. Cinemark and leading in-theater ad firm National CineMedia each climbed more than 3%. Marcus Corp. was up a fraction, while Reading International perked up 2%. On the London Stock Exchange, Regal parent
Rebecca Davis editorDespite its emphasis on Asian representation and Southeast Asian themes, Disney’s “Raya and the Last Dragon” failed to soar in China, coming in third with just $8.4 million, according to Maoyan data.
Refresh for latest…: Disney’s Raya And The Last Dragon didn’t exactly come roaring out of the gate at the international box office with $17.6M from 32 markets. The global bow, including domestic’s launch, was $26.2M. Double-digit million-dollar debuts for Hollywood movies in the pandemic era are still a rare positive — and we’ve certainly seen family movies excel — but while not all openings are apples-to-apples, Raya’s start is being seen as a somewhat muted affair.
Imax posted lower revenues during its fourth quarter, compared to pre-pandemic 2019, but an Asian box office resurgence helped the giant screen exhibitor offset a continuing hit to its North American theaters from the COVID-19 crisis. On Thursday, Imax reported a loss attributable to shareholders at $21.2 million, compared to a year-earlier profit of $18.2 million, and the adjusted loss per share was 21 cents, compared with a 35 cents-per-share profit in 2019.
Imax sales slumped last quarter but beat Wall Street estimates and it swung to a loss. The stock popped in late trading as the company highlighted a strong box office in China and Japan, upbeat outlook and continued sales of its big-screen systems despite the pandemic.
Refresh for latest…: Warner Bros’ hybrid live-action/animated feature Tom & Jerry began offshore rollout in mid-February, and this session became the first studio title to hit China in the wake of the Lunar New Year, as well as adding a host of other new markets. The Hanna-Barbera rascals scampered off with a further $19.4M from 33 markets at the international box office in the session, which made for a global $33.1M weekend including domestic‘s strong start.
Rebecca Davis editor“Tom and Jerry” squeaked in a narrow fifth in China with a $12.4 million debut, failing to capture viewers still flocking to local Chinese New Year holdover titles over the Lantern Festival holiday weekend.The Warner Bros.
Chinese blockbusters Hi, Mom and Detective Chinatown 3 both sailed past the $600 million mark during their second weekend in cinemas — an unprecedented feat for two films competing head-to-head in a single market. Heartwarming comedy Hi, Mom, produced by Beijing Culture, has emerged as China's 2021 Lunar New Year champion despite beginning the holiday in distant second behind Wanda Pictures' comedy franchise hit Detective Chinatown 3.
Chinese New Year movies continued to drive the global and international box office this weekend, after their astonishing Covid-era debuts last frame. Leaders last session, Detective Chinatown 3 and Hi Mom, both crossed the RMB 4B mark locally, with each at an estimated RMB 4.02B ($621M) cume through Sunday. This is after just 10 days of play for each film, and boosts both up the all-time charts
Rebecca Davis editorThe Beijing Culture-backed tear-jerking comedy “Hi, Mom” grossed $134 million this weekend to finally surpass Wanda Film’s record-breaking Chinese New Year holiday frontrunner “Detective Chinatown 3” in overall box office, having led the latter in single-day returns since Monday.It is now only the sixth film to ever have grossed more than RMB400 million ($62 million) in China, a feat achieved by “Detective Chinatown 3,” “Avengers: Endgame” and four other local titles.The
Rebecca Davis editorThe embattled production powerhouse Beijing Culture has emerged as the biggest publicly-listed winner of the Chinese New Year box office bonanza. Its stock price has climbed 18% since the start of the holiday thanks to the success of its hit comedy “Hi Mom.”The boost is a much needed one following two years of losses and a government investigation late last year that unveiled mismanagement and inaccurate figures in its prior financial statements.
In the span of six days, the Chinese box office roared to a $1.2B Lunar New Year record, with Wanda Pictures’ Detective Chinatown 3 setting global benchmarks for the biggest opening day and weekend in a single market.
Rebecca Davis editorChina’s Lunar New Year holiday brought in a record $1.2 billion (RMB7.8 billion) in ticket sales, making a tenth of the global 2020 box office in just six days.It marked the first time in Chinese film history that the country’s single-day box office exceeded RMB1 billion ($155 million) for five consecutive days.
On Wednesday, Chinese New Year box office achieved yet another new milestone with grosses for the holiday period growing to an estimated RMB 7.78B ($1.2B). This beats the previous all-time high set during the comparable 2019 holiday (RMB 5.9B). China often outdoes itself, but the fact that 2021’s Lunar New Year frame came with Covid capacity restrictions makes the performance even more staggering.
Shares in Imax surged after China's Lunar New Year holiday propelled tentpoles like Detective Chinatown 3 and Hi, Mom to blowout box office performances. Market analysts and beleaguered North American exhibitors are watching China's holiday opening weekend this year for signs of an eventual full recovery globally from the COVID-19 pandemic.
A comeback story is underway at China's booming theatrical box office. Beijing Culture's time-travel comedy Hi, Mom, which opened the Lunar New Year holiday in distant second place behind Wanda Picture's Detective Chinatown 3, has suddenly surged to the front of the pack.
Patrick Frater Asia Bureau ChiefMovie industry shares soared in Hong Kong on Tuesday in response to the bumper revenues being earned at the mainland China box office over the Chinese New Year holidays.Leading the gains were Imax China and Alibaba Pictures, both of which have direct stakes in the box office boom. Imax China stock climbed by 31% to HK$18.36 per share at the close of trading.
Detective Chinatown 3 has broken Avengers: Endgame‘s record for the highest grossing opening weekend at the box office in a single market.The 2019 Marvel film made $357million (£256m) on its first weekend in the US, but it has now been eclipsed in China.Despite cinemas being closed in many parts of the world, Chinese film fans are now able to see new releases in theatres, and the third film in the Detective Chinatown franchise – released at the weekend in line with the Chinese New Year – has
What a difference a year makes. After a 12-month postponement caused by the coronavirus pandemic, Wanda Pictures' much anticipated comedy tentpole Detective Chinatown 3 finally opened in China Friday for the first day of the week-long Lunar New Year holiday.
Rebecca Davis editorChina made history this weekend with record sales of nearly $775 million (RMB50 billion) within the first three days of the Chinese New Year holiday, led by an incredible $424 million (RMB2.74 billion) debut from “Detective Chinatown 3.”This marked the first time the country’s national box office has ever broken RMB1 billion ($155 million) a day for three consecutive days, a feat achieved despite caps on max theater capacity at 75% in most of the country and 50% in areas