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
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…: Big action at the global and international box office this weekend as Universal/Amblin Entertainment’s Jurassic World Dominion put its dino-print into an additional 52 overseas markets, and along with last weekend’s holdovers, grossed an estimated $177M to lift the offshore cume to $245.8M through Sunday. With the threequel’s stomping domestic bow, the
China recently set release dates for two summer films – Universal’s Jurassic World Dominion on June 10 and big local-language production Mozart From Space (by the director of the Detective Chinatown series) on July 15. That’s good news for the giant market’s reopening, said Imax CEO Rich Gelfond. But he doesn’t expect heightened scrutiny of
Big-screen pioneer Imax said Thursday that it recorded a net non-cash provision of $6.9 million, or $0.12 per share, due to an increase in reserves given the uncertainty of collecting receivables in Russia. With the Russia-Ukraine war ongoing, sanctions and boycotts underway include all major studios pulling releases from Russia. “This provision was taken in
Refresh for latest…: After setting a new opening day record for a local title in India, S.S. Rajamouli’s RRR (Rise! Roar! Revolt!) continued a strong run in the home market throughout the weekend and picked up an estimated $3.8M from 16 offshore hubs along with $9.5M from North America. The India total is still murky,