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Imax Corp. CEO Richard Gelfond weighs in on business in China and his outlook for business internationally in 2013.
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-- -- thanks so much.
So when -- asked movies these days it's go big or go home as it comes that would just be popular in America about Blockbuster's world wide.
And in 20128 at the top ten highest grossing films were worldwide.
We're screen on IMAX we have a connection here.
With claimant is in Davos Switzerland with the CEO -- list.
So we're here -- -- Switzerland and I have to ask this question when you're talking about movies how much did the Swiss like the avengers are.
Or for example breaking dawn part two perhaps more importantly for a company like IMAX how much did the Chinese like these films.
Because -- right now has some 99 screens and they are growing in China and everywhere else in the world that seems we're joined.
By the CEO of IMAX is rich you'll -- I don't.
What was one of the more popular movies in China.
Surprisingly somewhat -- -- and all movie.
Was Titanic Jim Cameron went back into the original film.
And release it in 3-D.
All over the world what -- wasn't China they didn't see at the first time so for them it wasn't only new.
Because it was in 3-D it was new because it was in.
Because it was -- -- And it was a similar reaction the rest of the world -- the first time which is really surprising to us and I think to the whole Chinese film industry.
I remember when avatar came out four years ago three -- four years ago you and I were sitting in Davos talking about this.
And about how the Chinese were scalping IMAX tickets first ninety bucks just to see this movie.
Is that behavior still there is there that premium people will pay an IMAX and more.
Well the good news is -- for the Chinese people and analysts is it's not ninety dollars and more.
But the average ticket prices north of fifteen dollars and taken and because we have about a hundred theaters.
In China right now.
I'm was spread we have so many more where we're selling those fifteen dollar tickets that where we sold those ninety dollar tickets that was only thirteen theaters about -- years ago.
International box office performance -- year over year was essentially flat do you think the 2013.
Film slate.
Among the man of steel you've got the next Hunger Games installment star track.
Will that inspire people to jump into the movie theater so much so that you'll see that number move up next year.
I do think so I think a week we announced yesterday Iron Man three also that we're doing.
And I think there's no doubt in my mind international is going to continue to go up as a percentage of box office -- do it in the regular movie industry because of -- rising middle class around the world and that'll do it an IMAX.
Partly because our network is expanding internationally much faster than it is domestically so I think this I think and thirteen.
-- I'd be surprised by the NC international for -- bigger than domestic.
Okay that might -- news there who the -- -- star.
Do you travel to a lot of red carpet events all around the world to see openings of certain movies is that the Robert Downey -- of the world he was in both the avengers and of course the Iron -- series.
Or is -- still the Tom cruises at the world.
Of course it's a country by country and sort of thing so Tom Cruise is still a big star in a lot of places that we did Mission Impossible -- last year that was one of our biggest movies.
He he was a big draw.
But twilight -- done very well in certain of the international markets is more of an anomaly in some of them are really plays well in some of it it doesn't.
And I think is singing was -- this worldwide trend.
Where instead of globalization were calling it like localization.
Where.
There are falling on what ever -- near the local globe exactly organizational what that means as they like their international film product.
But in China this year we played five Chinese films and non right now where we're actually playing bond.
But before this we played sees he's seventeen re a grand masters in Russia -- playing Stalingrad.
In India were playing doom three so the trend is they like the Hollywood films but they also like their local product.
Rich if you had one question that you would love answered no matter what it is.
By whoever in this world that would help you do better in your business this year what is that.
-- I I think we'll have to do with the growth of the middle class on a worldwide basis because part of the -- story is so much about bricks and mortar and network growth around the world -- where we've done best is where this emerging middle class is happening so.
I think if I knew it was going to be in Brazil and India but I knew was to be in the Middle East we we focus more resources than.
And our thanks to -- claimant in Davos -- coming up in the next hour outing job both.
-- one on one with top whereas CEO Rick Goings who is questioning what -- really get done.
At the world economic form I've always wondered about that is the candid interview where they hear one hour from now you going to miss that.
