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The box -- back.
Transformers revenge of the fallen from Viacom's Paramount Pictures in theaters today and the robot battle is generating big business -- IMAX screens.
With over three and a half million dollars in advance ticket sales the film format struggled for more than a decade to gain acceptance.
Again and well which -- in this field line that if you're talking explicitly about how he's transforming the company's.
Bottom line -- good to see you great to see you Alexis I thought last night I I said I I need to make sure that -- an -- -- in almost every place that I go -- live because the experience is unbelievable.
You talk at the beginning in the movie last night about how the director of this film.
Used IMAX camera is just like Chris Nolan -- in Dark -- How does that change the film.
-- what happens is when we use an IMAX camera.
You get this incredibly sharp resolution and also changes the aspect ratio for most of the films we use technology to convert them into IMAX.
The typical films -- a letter box format.
The IMAX format is more square -- rectangular.
So in the scenes where the camera is used it pops up full screen.
And the resolution just really grabs you into the movie.
How are you having success getting some of the top Hollywood directors and producers to buy into the concept of filming in IMAX.
-- Alexis -- really getting into now so what we consider -- the secret.
Ingredient in IMAX is that the fact that the directors.
Really want to showcase their films on this phenomenal.
Big screen it's like an artist painting on it on a giants going.
How what's happened is we're trying in addition to the theater experience to give viewers something special and each movie.
So in transformers it's the fact -- was shot -- IMAX cameras.
In the next month or so we open Harry Potter -- numbers six and the first twelve minutes or in 3-D.
So directors as saying not only is -- the immersive format that's special but let's do something special -- To the film.
And let's give our audience is -- special -- how that translating for you guys -- dollars.
Wolf the last several years we've been negatively impacted by our transition.
From film to digital in terms of our projection platform.
And while we were going through the transition who as any company going from analog to digital.
If financially it's difficult consumers -- -- exhibitors warrant taking deliveries of the of the systems.
-- people waiting for the new products so as a result we had the expenses.
But not the revenues -- -- were installing about twenty systems a year now we're opening two to three theaters a week.
So just to give you a frame -- the last movie night at the museum opened on 200 screens.
Transformers opens on 237.
A year ago we were like on a 130 screens so what that kind of growth in the network we expect to see a positive impact.
On the bottom line.
When do you think you'll turn to profitability is when he issues has been announcing quarterly losses in the transition that you've been talking about.
How does this translate into a good investment for Wall Street or for any investor.
Well during the -- first quarter the results were markedly better than than a year ago I mean revenues were up significantly.
On the loss was six cents a share vs I think it was 23 cents a year earlier so it's starting to have to face in -- we've said publicly.
That wouldn't be would who would be profitable for the year and I stand by that.
You've been traveling overseas a lot of expansion -- -- in China and India.
Would tell me a little bit about your trip is he just got back a week ago what do you -- -- over there but this time it was China and Japan.
-- China is our second largest market in the world were scheduled to have 43 theaters open.
By the end of 2012.
Which makes us the largest foreign exhibition presence in China.
But one of the obstacles we have is how do you get all those Hollywood films.
-- to China had given the restrictions on China film and also given the appetite of audiences so in addition to doing films like Harry Potter and transformers and -- man.
We started we entered in an agreement with one of the largest studios there Hawaii Brothers where we're gonna take Chinese films but we're actually gonna turn those into IMAX so.
Next July we have a film called aftershock -- you know which will be big for us we think.
Can expand the market in Japan we actually opened our first commercial theater in the country.
Last week and for this week it was the number one theater in the entire country.
So we think that's Japan is a second largest film market in the world.
And we think the fact that we are starting to crack that market.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Has it impacted you or have the results shown that in fact people will in a -- Alexis I'm constantly amazed -- I just got a report on the way here this morning that last night all of our 160 domestic midnight shows sold out.
As you know the premium is usually thirty or 40%.
Many exhibitors added 3 AM shows you mentioned are advance sales.
-- for the last few movies that we did Star -- by the end of a run on 2% of the screens.
We were up to almost 20% of the North American box office.
So it see if it seems to suggest that for premium experience I guess it's still sort of a cheap.
Night out in the cheapest -- -- some.
People away willing to pay more -- experience and an IMAX clearly you're taking advantage of the opportunities that you see in Hollywood and and yet.
One would assume that for the directors -- producers who gonna buying into this that the cost would be precipitously higher.
Clarify that is that true or is that a -- know more about shooting and I -- now that you -- that conversion.
Well it's mostly a misnomer because most of the films.
Are being -- are not being shot and I -- that just being transferred time accent.
That costs around a million dollars a little bit more maybe -- we put up that cost.
What's happened than really that we -- talk about that's the real -- to our growth has been the transition to digital.
And he used to have to pay for prints which -- 45000.
Dollars for two.
45000 dollars for three days.
And now it's 400 dollars to go in the theaters so it's almost like here at Lincoln square.
The theater for the one theater it would have cost 25000 dollars.
Now -- plus 400 dollars.
So that cost saving is really what's -- driving the network growth and driving more studios to release there.
Films and -- OK so which films coming up.
Dean is saying could be the big blockbuster.
You know I.
There's no doubt in my mind and and this isn't 'cause it's only for the home team Alexis but.
Avatar which is that Jim Cameron film and it's released by fox is coming out in December and I've seen twenty minutes of the film.
And it's spectacular and he just showed -- yesterday Jim -- cynnex bow out and Amsterdam and I'm told the audience went crazy it's the most innovative.
-- making I've seen.
Throughout my tenure IMAX were also doing not Harry Potter next which I -- and -- -- Really surprised that that was not a big blockbuster.
Than a little bit off people's radar charts is for Christmas Disney is doing Christmas -- Bob zemeckis.
Who did not far -- and polar express in 3-D and I we saw some footage in the last couple days and I think that's gonna surprise some people.
And then next year one I'm really excited about is.
Disney is releasing.
Tim Burton is doing Alice in Wonderland starring Johnny Depp as the mad hatter I think that's a magic recipe.
-- -- and continued success screening teen Yale endowment avatar my kids didn't really psyched about that.
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