IMAX earnings break records in fourth quarter with help from 'Gravity' and 'The Hobbit'

By Chelsea Lewis ,

IMAX has posted their fourth quarter profits and have set a record. The results seemed to have been boosted by strong box office performances from Gravity, The Hobbit: The Desolation of Smaug and Stallingrad.

The total fourth quarter profits for IMAX totaled $27.8 million, which is almost double the $12.8 million that was made last year, The Hollywood Reporter added.

IMAX earned $244 million worldwide during the fourth quarter, which was its highest box office quarter yet globally. If the numbers are broken down, that means that each screen averaged $366,300 during the fourth quarter.

Films like Gravity and The Hobbit: The Desolation of Smaug had been promoted for their strong visuals, and word of mouth spread about seeing these films on the big IMAX screens. Gravity was even re-released to IMAX screens following the Oscar nominations.

The large format screen did have a few slight stumbles along the way to profitability. Lionsgate's Ender's Game did not bring in the numbers that either company had hoped, Variety reported.

image: Warner Bros



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