Chinese Animation Drives Imax Growth as ‘Ne Zha 2’ Breaks Box Office Records
Imax is capitalizing on the growth of Chinese animation, particularly with the success of “Ne Zha 2,” which grossed RMB 14.8 billion ($2.06 billion) in China. Imax has reported an increase in market share post-pandemic due to audience demands for premium experiences. The company has adopted strategic marketing and technological advancements, ensuring a bright future amid evolving industry trends.
In the post-pandemic landscape, Imax is significantly investing in the Asian market, particularly benefiting from the surge in Chinese animation. The animated film “Ne Zha 2” has set impressive box office records, accumulating over RMB 14.8 billion ($2.06 billion) in mainland China, as reported by Maoyan Entertainment. This development reflects a growing appreciation for premium theatrical experiences among audiences.
“Ne Zha 2” has excelled in Imax theaters, with around 55% of its showings in 3D format. Imax CEO Rich Gelfond described the film’s attributes, stating, “It had just all these elements of a good movie. It was humorous. There was a lot of action in it… and based on an ancient Chinese story, which many children know.” This impressive reception is largely attributed to the film’s technical excellence, which showcases the premium format’s strengths.
Gelfond emphasized the film’s visual and auditory quality, comparing it to “Avatar,” noting its careful rendering and vibrant imagery. He remarked, “The animation is very high-quality… they make it just a much better movie.” This quality may have driven audiences to seek multiple viewings, significantly bolstering the film’s box office performance.
Imax’s strategic marketing efforts during the Chinese New Year season, including joint ventures with studios and targeted social media campaigns, have proven effective. Gelfond mentioned, “We pooled some of our marketing efforts and leaned into the movies… together than either us could have done alone.”
According to Lai Li, a market analyst at Maoyan Entertainment, the success of “Ne Zha 2” follows a prior period of industry stagnation in China. She explained, “The Chinese film market was a little lackluster last year… only three films managed to break the RMB 3 billion barrier.” Now, the success of this year’s films indicates a favorable outlook for the Chinese film market moving into 2025.
“Ne Zha 2” aligns with the global industry trend of focusing on franchise development. Lai Li added, “Sequels and franchise films are a cornerstone of the film market… only two of the top 10 highest-grossing films in Chinese history aren’t sequels or part of a series.”
Currently, there are seven “Filmed for Imax” projects in production in China, with some set for release in 2025. Major studios such as Alibaba, Maoyan, and Wanda are gearing up for high-budget projects like “A Writer’s Odyssey 2.” Anticipated Hollywood titles for China include sequels to popular franchises, enhancing the prospects for the box office.
Shifting audience preferences post-pandemic are notable. Li pointed out that audiences are prioritizing the “time-effectiveness” and “cinema-ness” of their experiences, emphasizing the uniqueness of watching films in theaters. Imax is benefiting from this trend, with Gelfond noting, “Our market share has gone up post-pandemic from where it was pre-pandemic.”
Recent trends show that comedies have gained popularity in China. Li mentioned, “In 2021 and 2022, comedies snagged two of the top three spots at the box office… the year’s biggest hit, ‘Full River Red,’ was a suspenseful comedy.”
Imax is committed to continual technological advancement, with Gelfond highlighting new innovations such as an improved sound system and laser-based projection technology that enhances cinema quality. New film cameras have also been introduced, providing filmmakers with greater flexibility and better shot quality.
Imax sees promising growth in Japan, with plans for opening approximately 10 new theaters by the first quarter of 2025. Gelfond expressed optimism about the Japanese market, suggesting it could see record-breaking attendance this year with upcoming films like “Demon Slayer: Infinity Castle.”
Imax currently operates 796 locations in China and 185 across Asia, with a backlog of 191 contracted locations awaiting installation in China. After China, Japan leads in Imax locations, followed by India, South Korea, and Indonesia. As the industry recovers from the pandemic, premium formats like Imax are uniquely positioned to thrive, particularly in Asia, where audience demand for high-quality cinematic experiences remains strong.
In conclusion, the success of “Ne Zha 2” signifies a resurgence in the Chinese film market, driven by high-quality productions and audience preference for premium cinematic experiences. Imax’s strategic focus on the Asian market, combined with burgeoning local content and technology advancements, suggests promising prospects for both the company and the industry as a whole. With strong audience engagement and innovative marketing efforts, Imax is set to play a pivotal role in the evolution of film consumption in the coming years.
Original Source: variety.com
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