'Polar Express' Sets Record for Imax Release

[K1052]

'Polar Express' Sets Record for Imax Release
Mon Nov 15, 2004 01:05 PM ET

By Jeffrey Hodgson
TORONTO (Reuters) - Tom Hanks' holiday movie "The Polar Express" has set an opening weekend record for a Hollywood film released in Imax Corp.'s giant-screen format, the company's co-chief executive said on Monday.

Brad Wechsler said the film grossed $2.1 million over the weekend in 59 North American Imax theaters for a total of $3 million in receipts since Wednesday.

"We're extremely pleased in terms of its absolute performance in Imax. We've set a new weekend record for us ... we've had a ton of sold out shows and our advance sales to consumers have been great," Wechsler told Reuters.

In the battle of computer-animated cartoons, "The Polar Express" pulled in at a distant No. 2 at North American weekend box offices after "The Incredibles," according to studio estimates issued on Sunday.

"The Polar Express," which reportedly cost $270 million to make and market, opened with a modest $23.5 million for the weekend, distributor Warner Bros. Pictures said. Since its release on Wednesday, it has grossed $30.8 million.

But Wechsler said the movie has outperformed other Hollywood films released simultaneously in the Imax format and regular theaters, including the "Harry Potter" and "Matrix" sequels.

Shares of Mississauga, Ontario-based Imax, which is run largely from New York, were up 10 cents, or about 1 percent, at $7.15 on Nasdaq on a volume of more than 300,000. In Toronto, the stock rose 25 Canadian cents to C$8.65.

"Polar Express opened to impressive Imax box office and is likely to have legs in Imax, in our view. We believe the films' performance will make exhibitors and studios take more notice of Imax," Soleil Research Associates analyst Marla Backer said in a note to clients.

"We reiterate our 'buy' rating on Imax shares and expect them to respond positively to the 'Polar Express' data."

In recent years, Imax has made deals with Hollywood studios to release potential blockbusters in the Imax format at the same time they hit regular theaters. The strategy is designed to fuel its main business of leasing and servicing its big-screen movie theater systems.

Wechsler said the company has had "serious" talks with Hollywood studios about releasing four to six new movies in the large format. He would not disclose which titles, but said the upcoming "Star Wars" prequel and Peter Jackson's "King Kong" remake are the types of movies Imax hopes to release.

The firm has not disclosed its financial arrangement with "Polar Express" distributor Warner Bros., but said it ultimately benefits if the studio and theater chains make money.
"Obviously, we're delighted with the financial performance of 'Polar', and it should translate into the sale of more Imax systems and the growth of our network," he said.

"There is almost always a participation in the box office. It's a licensing transaction where we receive money up front, and then a minimum royalty, and then an overage depending on the performance of the theater."

http://www.reuters.com/newsArt...ws&storyID=6817353

 

[DurocShark]

mmmmmmmmmm.............IMAX.............

 

[mobobuff]

Not surprised... with all the trippy roller coaster shots... IMAX would be quite a ride for this movie.

 

[mobobuff]

Going to see this movie again in an hour, on IMAX 3D!!!!!!!111dimension

Will update when I get back, if I haven't vomitted my liver and lungs out from motion sickness.

 

[aplefka]

I sure hope they didn't fvck up this book. I remember having it read to me as a kid every Christmas season.

 

[EMPshockwave82]

Originally posted by: aplefka
I sure hope they didn't fvck up this book. I remember having it read to me as a kid every Christmas season.

i never read the book but i went to see the movie.... i thought the movie was great... some of the animation was a little creepy though (aka girl on the train's creepy body movement)


the guy who did the movie said he didnt want to change the story, just expand it enough to make a movie out of it so i think you're safe there

 

[mobobuff]

THAT....WAS....AWESOME!!!

Sitting in the second row back from an IMAX screen in 3D... talk about trippy! And a sore neck too... having your head at an angle other than 180 makes the 3D go all outta whack.

Polar Express is a fantastic movie, 100-fold when viewed in mega huge 3D :Q I felt like I could touch everything, and everything could touch me....

Dude... my hands.... they're huuuuuuuuuge... they can touch anything but themsellllllveeees...

*falls down*

 

[LtPage1]

more people saw polar express than matrix 2 or attack of the clones?

WTF is wrong with america.

 

[jorken]

Nice, they just opened the Imax where I work and are showing it... i'll have to check it out.

 

[Goosemaster]

Originally posted by: LtPage1
more people saw polar express than matrix 2 or attack of the clones?

WTF is wrong with america.

Actually, I am surprised that a nice artsy film did better than two mega-ultra-"blockbusters" from hell.

 

[mobobuff]

OMGWTF3DSNOW!!!!!!

 

[Anubis]

Originally posted by: Goosemaster

Originally posted by: LtPage1
more people saw polar express than matrix 2 or attack of the clones?

WTF is wrong with america.

Actually, I am surprised that a nice artsy film did better than two mega-ultra-"blockbusters" from hell.

the matrix was fing sweet in imax

 

[Goosemaster]

Originally posted by: Anubis

Originally posted by: Goosemaster

Originally posted by: LtPage1
more people saw polar express than matrix 2 or attack of the clones?

WTF is wrong with america.

Actually, I am surprised that a nice artsy film did better than two mega-ultra-"blockbusters" from hell.

the matrix was fing sweet in imax

whoops. I read it wrong then. I wish I could have seen it in imax.

Imax is good for eye-candy and those alst wtwo matrices were ALL eye-candy🙁

 

[0roo0roo]

yea ebert was saying the movie was best seen in the imax form. he praised it like mad... wore imax glasses the entire show... story works better at that length too. another critic i read is from thehotbutton.com and he considered the imax version superior too. from what i've read, the dead kiddie zombie effect is less so in imax, and the story doesn't seem stretched thin for material like in the normal version.