The year will have 28 films in 3D — down from 34 last year and a peak of 39 in 2011 — which is one reason why Morgan Stanley’s Benjamin Swinburne says today that he expects this year’s domestic ticket sales to fall as much as 2%. Another reason: The analyst predicts that audience interest in 3D will continue to cool. He foresees 3D showings to account for just 39% of the total box office for films released in 3D, the lowest ratio in seven years and down from 42% in 2013 and 53% in 2012. The exhibition companies he tracks already are hurting from these trends. Consumers’ average outlay per admission in Q1 will rise just 0.5% as price increases of about 2.5% are offset by lower sales of the premium priced tickets for 3D movies. Three of the seven 3D films this quarter are “non-superhero films targeted at kids, which have recently yielded lower 3D [percentage] take-rates,” Swinburne says. Studios also probably won’t have a 3D film in early 2014 that will match last year’s Disney release, Oz: The Great And Powerful. “In the ‘golden age of TV,’ we remain cautious on attendance” for the year. Meanwhile theater growth initiatives aren’t ready to pay off just yet. The impact of efforts to promote sales of high-priced snacks “has been small,” the analyst says. He’s optimistic about plans to offer sports, opera, ballet, and other non-movie …
The Cameron-Pace Group, announced today at the start of the National Association of Broadcasters confab in Las Vegas, “seeks to accelerate worldwide growth of 3D across all entertainment platforms including features, episodic and live television, sports, advertising and consumer products.” The company, run by co-chairman James Cameron and longtime collaborator Vince Pace, will offer next-generation camera systems, services and creative tools to the entire entertainment industry, not just film. “Our goal is to banish all the perceived and actual barriers to entry that are currently holding back producers, studios and networks from embracing their 3D future,” Cameron said. “We are dedicated to building a global brand that is synonymous with high-quality 3D and spans multiple channels, from features to episodic television, and changes the boundaries of what is understood to be 3D material.”
Cameron and Pace developed under Pace’s company PACE the Fusion 3D system, which was used for the 3D in such films as Avatar, Tron: Legacy and U2: 3D. PACE has begun the formal rebranding process, and its operation under the Cameron-Pace Group banner is effective immediately. CPG will be headquartered in Burbank, Calif., the current home to PACE.
CPG already is working on film projects that include Pirates of the Caribbean: On Stranger Tides, Transformers: Dark of the Moon, The Three Musketeers,The Invention of Hugo Cabret, Life of Pi and 47 Ronin.
IMAX made news over the holidays when its stock jumped on speculative reports that Sony was angling to buy the company, though IMAX officially claimed not to know anything about it. Today, IMAX issued glowing year-end results.
TORONTO AND LOS ANGELES – JANUARY 3, 2011 – IMAX CORPORATION today announced that for the fifty-two weeks ended December 31, 2010, IMAX DMR® global gross box office reached a record $546 million, more than doubling the Company’s previous global box office record of $270 million achieved in 2009. The Company’s DMR gross box office for the fourth quarter of 2010 reached $102 million compared to $101 million in the fourth quarter of last year.
Gross box office generated from the Company’s original documentaries including Hubble 3D, Under the Sea 3D and Deep Sea 3D totaled $41 million.
“Our 2010 box office results reflect our model of showcasing the biggest blockbuster titles, whether they are 2D or 3D, our network expansion and the significant increase in box office generated from our existing theatres,” said Richard L. Gelfond, CEO of IMAX Corporation. “In fact, our box office per theatre average grew by 50 percent year-over-year. Looking ahead to 2011, we have more visibility into our future film slate than we have ever had, we will grow the size of our global network and we believe that this year’s strong box office performance will further fuel the theatre signing momentum we enjoyed in 2010 into 2011.”
“IMAX proves time and again to be the magic formula that
Relativity is planning on a 2011 release of the now untitled 3D shark thriller from director David Ellis. Relativity acquired the film, previously called Shark Night 3D, from Sierra Pictures and Incentive Filmed Entertainment. It stars Sara Paxton, Katharine McPhee and Donal Logue and was written by Jesse Studenberg and Will Hayes. Chris Briggs and Mike Fleiss are producing via their NextFilms banner, along with Lynette Howell via the Silverwood Films banner. It’s currently in post-production. Ellis directed The Final Destination and Cellular.