Mythri Movie Makers’ “Pushpa 2: The Rule,” headlined by Allu Arjun, has delivered $1.4 million in global Imax box office across 16 markets. In India, the film generated $650,000 from 31 Imax screens, marking the biggest local language Imax opening of 2024 and the fourth-highest Imax opening ever in the market.
The strong performance comes as Imax continues to see robust growth across Asia-Pacific markets, with aggressive expansion plans in Southeast Asia and significant traction in local language content, according to CEO Richard Gelfond.
The giant-screen exhibitor has doubled its footprint in Indonesia, installing seven new theaters in 2024 alone to reach 18 operational screens with two more in the pipeline. The company now accounts for 5% of Indonesia’s box office revenue, bolstered by local language hits like “Dancing Village: The Curse Begins.”
“When I think of Southeast Asia, Indonesia and Malaysia are growing the fastest,” Gelfond told Variety. “The exhibition community in Indonesia and Malaysia saw the potential for Imax and the growth in really the premium end of the market. Malaysia also doubled its footprint this year.” Malaysia has 12 operational Imax screens with eight more coming up.
The company’s Asia-Pacific content slate has expanded significantly, with 61 releases including local language films, documentaries, and live events in 2024, out of a total of 110 pieces of content worldwide. “That represents another notable strategic shift where so much of the content is coming from those parts of the world,” Gelfond said.
In South Korea, Imax recently released the virtual K-pop band PLAVE’s concert film “Hello, Asterum,” which captured a significant percentage of the nationwide box office on just 25 screens.
In China, where Imax operates 777 screens with 238 more in the pipeline, Gelfond remains optimistic despite recent market slowdown. “The government has taken a much more inclusive view,” he said, noting increased access for Hollywood titles like “Deadpool & Wolverine” and “Joker: Folie à Deux.” The company expects stronger performance in 2025, driven by anticipated Lunar New Year releases including “Creation of the Gods 2” and “Nezha 2.”
India presents a mixed picture, with Imax’s premium positioning helping it weather broader market challenges. While overall screen count in India has dropped to the low 6,000s from over 9,000, Imax has grown from three to 31 screens over the past decade with 12 more in the pipeline. The company added six new screens in 2024, matching its record from the previous year.
Japan remains a growth market, with 52 operational screens and nine in backlog. The company’s expansion has shifted from urban centers to suburban locations following a deal with local exhibition giant Aeon Entertainment. Local language content, particularly anime, has driven success beyond domestic borders, Gelfond noted.
Imax cameras are seeing increased adoption globally, with four films currently in development in China. Filmmakers in India and Japan have also expressed interest, while productions in Indonesia, Malaysia, and Korea continue to use traditional cameras with Imax conversion.
In Southeast Asia, Imax’s growth extends beyond Indonesia and Malaysia to Vietnam and the Philippines. “The economies are developing so quickly, the appetite for entertainment has really increased dramatically in the last few years,” Gelfond said. “Those areas of the world are where we’re the most optimistic of anywhere.”
And, as revealed by Variety, Imax has ambitious plans for the Middle East.
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