Imax saw sales dip in the fourth quarter to $86 million from $98 million, in line with Wall Street forecasts, as the company focused on the full year and its accelerated global expansion. The stock has popped more than 8% in after-market trading on the numbers and outlook. Adjusted ebitda (earnings before interest, taxes, depreciation
IMAX
Imax and Adam McKay’s Hyperobject Industries have started production on Stormbound, a feature documentary the follows storm chaser Jeff Gammons. Imax is financing the project, which is directed by Miko Lim (Ocean Mother) using Imax film and Imax digital cameras. It’s slated for release in 2025 across the big-screen theater network. “Next to firefighters, there may
Refresh for latest…: There were two new Hollywood entries at the international box office this weekend as both Warner Bros/Village Roadshow/Heyday Films’ Wonka and Universal/Illumination’s Migration began early offshore rollout, though on different patterns. It was good news all around with Timothée Chalamet-starrer Wonka launching to $43.2M in 37 markets, well ahead of pre-weekend projections.
Imax and Pathé Live in partnership with Mercury Studios and Queen Films will release Queen Rock Montreal globally for four days in January digitally remastered for Imax. The film of a live concert in Montreal in November of 1981, directed by the late Saul Swimmer, will hit 450+ Imax locations globally for four days starting Jan. 18 in the UK,
As it continues its rapid global growth, IMAX has set a significant expansion of its partnership with Pathé Cinemas in Europe, pacting for five new IMAX with Laser systems locations, four of which will be in France. The agreement also spans distribution, with IMAX and Pathé Live set to release three upcoming Pathé Live films
Imax CEO Rich Gelfond predicts the long SAG-AFTRA strike will settle relatively soon. If, instead, it drags on, theater chains will face a rocky second half of 2024 but he sees the large-format exhibitor standing apart. “An exhibitor who programs a multiplex needs lots of movies,” he told Wall Streeters after Imax reported a record
In yet another move to increase its footprint in Asia, IMAX is expanding its partnership with Hengdian Films via an agreement for 20 new IMAX with Laser systems across China. This marks the largest deal for new IMAX systems in four years, reinforcing the strong demand among Chinese exhibitors and audiences for the premium experience
Imax said today it won’t proceed with its proposed acquisition of the outstanding stake in Imax China after a vote of shareholders of its subsidiary fell short. Some 70% of the shares voted were in favor of the deal, but those against exceeded the 10% threshold required by Hong Kong law to defeat a privatization transaction. Approximately
Monday night’s special 40th anniversary screening of Jonathan Demme’s Stop Making Sense at the Toronto Film Festival is now Imax’s highest-grossing live event, the company said. The groundbreaking Talking Heads concert film, from A24, earned $640,839 and sold out 25 screens across 165 Imax locations in North America and the BFI Imax in London. The remastered world premiere
Imax CEO Rich Gelfond turned a media conference Q&A back on the host today, grilling a Goldman Sachs analyst about the firm’s two-year ‘sell’ rating on the stock when, he said, much of the Street has a ‘buy’. The two were discussing Gelfond’s $1.1 billion box office projection for Imax, made earlier this year,
As Barbie becomes the highest-grossing film of 2023 today at the domestic box office with north of $575M, Warner Bros and Imax said the Greta Gerwig-directed movie is getting a one-week Imax release starting September 22 in North American and select locations around the world. The pic starring Margot Robbie and Ryan Gosling has cleared
Imax blew past Wall Street forecasts with sales up 32% at $98 million for the second quarter ended in June. Adjusted EPS was 26 cents a share – up 271%. The company swung to a net profit of $8.35 million (15 cents a share) from a loss of $2.85 million (negative 5 cents) the year
AMC Entertainment set a new post-Covid record for global admissions revenue this past weekend with Barbie and Oppenheimer leading a charge that drew 7.8 million moviegoers to theaters. Warner Bros/Mattel’s Barbie racked up $162 million opening weekend. Universal’s Oppenheimer stands at $82.4 million for a $300 million weekend at the domestic box office. For Imax, Christopher Nolan’s Oppenheimer delivered a $35 million debut
Imax said today it expects to return to its pre-pandemic gross box office level of $1.1 billion in 2023, even as it reported revenue of $98 million for last year’s fourth quarter, down 10% from the year before. Earnings per share fell to 19 cents from 31 cents. CEO Rich Gelfond attributed the dip to the Chinese
Imax chief executive Rich Gelfond said blockbuster titles will probably be back on Imax screens later this year, as per Top Gun: Maverick last year and, more recently, Titanic’s 25th anniversary re-release. “Yes, I think they do. Especially seeing what happens at the Academy Awards, and what wins,” said Gelfond when asked on a conference
Moonage Daydream is returning to the really big screen. Brett Morgen’s award-winning documentary about David Bowie will be re-released on Imax screens around the country for limited engagements, beginning on Monday, December 5 at the TCL Chinese Theatre in Hollywood. From Dec. 7-13 it will play at six Imax locations in the Los Angeles area,
Imax CEO Richard Gelfond is opening up about how important the theatrical window is and how he thinks some streaming services are realizing it now. “The debate is over,” Gelfond said in an interview with Yahoo Finance Live. “The argument that you can skip a theatrical window and make up for it on streaming just
Imax missed Wall Street’s third-quarter earnings projections due to what it called “a temporary slowdown in the Hollywood pipeline,” but edged revenue estimates thanks to a string of local-language blockbusters. The company’s net loss of 5 cents a share, reported Monday, marked an improvement from 8 cents in the year-ago period, but was worse than
EXCLUSIVE: Imax has inked a deal with Wanda Films, China’s largest exhibitor, to install six Imax systems in new multiplexes across top Chinese markets including Shanghai, Shenzhen, and Guangzhou. Wanda will also relocate and upgrade three of its existing Imax systems to forthcoming locations. The agreement marks an expansion of their work together and a
Sarigama Cinemas’ Ponniyin Selvan: Part One crashed the weekend box office at no. 6, looking at $4+ million on 500 screens for a per theater average of $8,260, the biggest of the top ten. The Tamil-language historical epic being billed as India’s Game of Thrones is based on a Tamil history book series that’s read
Imax is out this Sunday with Brandi Carlile: In The Canyon Haze – Live from Laurel Canyon on 31 screens nationwide, an encore of a live event that reps a milestone for the large format exhibitor. The concert was broadcast Thursday from LA’s storied Laurel Canyon neighborhood to 87 Imax theaters (there would have been
Imax Corp. has acquired Ssimwave, an Ontario-based AI-driven tech firm whose clients include media giants from Disney and Paramount Global to Warner Bros. Discovery and NBCU parent Comcast. It’s a cash and stock deal worth $21 million. Imax has also worked with Ssimwave, an expert in enhancing on-demand and live visual imagery for broadcast and
Big screen exhibitor Imax has extended the employment agreement of chief executive Richard Gelfond through Dec. 31, 2025. The amendment to Gelfond’s initial agreement, effective as of January 1, 2023, also commits to annual equity award grants in 2023, 2024 and 2025. Otherwise his compensation and severance terms remain the same, according to an SEC
Imax just cut a deal for six new big-screen installations in China this year — “a very positive development,” according to CEO Rich Gelfond. The company is a big player in the Chinese market, which is still strained by Covid lockdowns and in limbo for Western theatrical releases. He noted the new contract during a
No, the tabloid headlines about all the behind-the-scenes mishesgoss on Olivia Wilde’s Don’t Worry Darling isn’t hurting ticket sales. The Imax Live Experience advance screening for the Florence Pugh, Harry Styles and Chris Pine genre movie was the fast-selling for the large format exhibitor to date with 21 Imax locations selling out in 24 hours. And these
“I do think the studies will get paid, like they usually do, whatever they are owed. Because we are the suppliers and that’s usually what happens,” Lionsgate vice chair Michael Burns said Wednesday of the Chapter 11 filing earlier in the day by Regal Cinemas’ parent Cineworld. “Those things seem to go through the same
Cineworld,, staggering under heavy debt and facing a dip in box office revenue this quarter, asserted Friday that it’s business as usual for the giant movie chain while it explores options. The statement follows a report today that the U.K parent of Regal Cinemas is preparing to file for bankruptcy. Cineworld presaged a potential Chapter 11
Refresh for latest…: Happy New Year, Peter Parker! In its third weekend, Sony/Marvel’s Spider-Man: No Way Home has lifted its global cume to $1.37B, becoming the 12th highest-grossing film of all time worldwide. Slinging up another $78.3M in 61 international box office markets this session, Spider-Man: No Way Home now has an offshore cume of
Imax grossed $95,000 live simulcasting the Kanye West (with special guest Drake) benefit concert at the L.A. Coliseum to 35 Imax theaters — a one-night event Thursday that included seven sellouts despite being available to stream live on Amazon Prime. The show, Imax’ first live concert event, comes as the large format exhibitor experiments with
Sean Baker’s Red Rocket, the highest-profile specialty opening to report numbers this weekend (i.e. not distributed by a streamer) posted a solid $96,953 for a per screen average of $16,158 in six theaters in New York/Los Angeles. Critics are calling the film about a washed up porn star returning to his hostile Texas hometown audacious
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