AEON Entertainment and IMAX Corporation announced an agreement Wednesday that will open seven new IMAX auditoriums with Laser systems across Japan in 2023.
Under the deal, all seven systems will be installed in existing multiplexes by summer 2023 in areas largely untapped by IMAX. This is the second major deal between IMAX and AEON — a leading Japanese exhibition company with 800 screens nationwide — in under a year. The two agreed during the 2022 CinemaCon to create two new locations outside Tokyo and Osaka.
IMAX has nearly tripled its network in Japan over the last 10 years, from just 16 locations in 2012 to 41 today. Japan was IMAX’s third highest grossing global market in 2022, with over $73 million in theatrical revenue. It was also home to six of IMAX’s top 15 highest grossing locations. Thirty-one IMAX auditoriums generated theatrical grosses of more than $1 million each in 2022 — a figure second only to the United States.
“We look forward to expanding our partnership with IMAX, a provider of innovative entertainment technology, to provide strong support for our mission of enhancing the value of the theater-going experience,” Yasuhiro Asada, president and representative director of Aeon Entertainment, said in a statement. “We will continue to actively introduce the latest equipment and services that will add value to our theaters.”
The seven new IMAX locations will be equipped with IMAX with Laser technology, IMAX’s most advanced theater experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. It is set apart by a groundbreaking 4k laser projection system that features a new optical engine, custom designed lenses and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast and the widest range of colors exclusively to IMAX systems.
IMAX’s momentum in Japan has been driven by a potent combination of Hollywood tentpoles and its local language strategy. “Avatar 2” slightly underperformed in Japan — partially due to competition from “The First Slam Dunk,” which grossed $64 million and “Suzume no tojimari” which has thus far amassed $98 million since November.
However, IMAX has thus far amassed 20% of “The Way of Water”s ongoing $26.5 million total on only a fraction of total screens. “Top Gun: Maverick” grossed $18 million on IMAX screens in Japan and is the country’s second highest-grossing IMAX title ever, displacing previous silver medalist “Bohemian Rhapsody.”
“Japan continues to be an incredible market for IMAX,” IMAX CEO Rich Gelfond said. “We’re very pleased that AEON is taking the opportunity to rapidly expand our partnership and bring The IMAX Experience to even more of its customers. From expansion in Japan to our record-breaking results with “Avatar: The Way of Water” to the strong, diversified global slate ahead, 2023 is already beginning to deliver on the great promise it holds for IMAX and our business.”
IMAX amassed a record $40.2 million in global box office from Japanese language titles in 2022 — up 26% from 2021. Anime has emerged as a growth area for the format, from the recent “Dragon Ball Super: Super Hero” and “One Piece Film: Red” to “Demon Slayer The Movie: Mugen Train.” That action fantasy was the biggest global grosser of 2020 and the biggest earner ever in Japan, earning $386 million out of $506 million in Japan. Its follow-up, “Demon Slayer: The Swordsmith Village,” opens next month locally.