Imax Corp Stock Price, News & Analysis

IMAX Corporation (NYSE: IMAX) achieved a record-breaking $34 million in box office revenue during the Chinese New Year holiday, surpassing previous records by 3% from 2021 and a significant 54% increase compared to 2022. Notably, $26.3 million of this total came from the film 'The Wandering Earth 2', which accounted for 8.2% of its total gross despite being shown on less than 1% of screens. The IMAX China network fully reopened recently, contributing to a robust $1.2 billion overall Chinese box office year-to-date, significantly exceeding the North American box office of $513 million.

IMAX Corporation (NYSE: IMAX) reported impressive box office results with $6 million from the opening day of The Wandering Earth 2, nearly doubling its predecessor's performance. This represented 8.5% of the film's total gross on just 1% of screens. The overall opening day in IMAX China reached $7 million, marking IMAX's second-best performance during the Chinese New Year. Strong audience reactions on major platforms fueled optimism, evidenced by high scores of 9.4 on Maoyan and 9.7 on Taopiaopiao. The company anticipates continued success with upcoming releases, positioning itself well in China's robust film market.

IMAX and AEON Entertainment have announced an agreement for seven new IMAX with Laser systems to be installed across Japan by summer 2023. This expansion follows a previous agreement made in April 2022 for two new locations. Over the last decade, IMAX has nearly tripled its presence in Japan, now operating 41 locations, with the market generating more than $73 million in box office revenue in 2022. Notably, Japan was the third highest-grossing market globally for IMAX last year. The new installations aim to enhance the theater-going experience and capitalize on the demand in largely untapped areas.

IMAX Corporation has reported that Avatar: The Way of Water has become the highest-grossing IMAX film of all time in 44 countries, generating over $215 million in global box office revenue within its first month. It ranks as the third highest IMAX release ever, with $139.3 million earned internationally and $75.7 million in North America. The film's success accounts for 11.2% of its global box office, demonstrating strong performance across diverse markets such as South Korea, France, and India. Notably, IMAX screens in China have contributed $47.6 million to the total, representing 23% of China's box office.

Sony Pictures Entertainment, Xperi (NYSE: XPER), and IMAX Corporation (NYSE: IMAX) have announced a significant expansion of the IMAX Enhanced ecosystem. Upcoming titles, including Spider-Man™: Across the Spider-Verse, Gran Turismo, and The Equalizer 3, will be released in the IMAX Enhanced format during their home entertainment windows. This format combines exclusive 4K HDR content and premium DTS:X audio, aiming to elevate the at-home viewing experience. The deal reflects a commitment to delivering high-quality entertainment globally.

IMAX Corporation (NYSE: IMAX) announced on January 3, 2023, that "Avatar: The Way of Water" became its highest-grossing film of 2022, generating $160 million at the global IMAX box office. The film ranks as the fourth highest-grossing IMAX release ever and has topped the box office in 18 markets. IMAX's total global box office for 2022 reached $848.5 million, a 33% increase from 2021, aided by the installation of 92 systems worldwide. IMAX enjoys significant market share in both domestic and international markets for this title, particularly in China.

IMAX Corporation reported that "Avatar: The Way of Water" has achieved $105.5 million in global box office receipts, marking the fastest film to surpass $100 million in IMAX since April 2019. The film accounts for 11.4% of its global gross, making it one of the top ten all-time IMAX releases. In China, it brought in $26.5 million, representing 25.5% of total grosses on just 1% of screens. The film is performing exceptionally well internationally, with a gross of $67.5 million outside North America, solidifying its position as the highest-grossing IMAX title in several countries.

IMAX Corporation reported a remarkable achievement with the global opening of "Avatar: The Way of Water," which amassed $48.8 million in its opening weekend. This marks the second-largest IMAX global opening ever and the biggest December opening for IMAX. The film accounted for 11.2% of the film's worldwide gross, with notable contributions from both North America ($16.5 million) and China ($15.8 million). IMAX's share of the Chinese box office reached a record 27%, solidifying its strong market presence.

IMAX China has appointed Daniel Manwaring as its new CEO, effective January 9, 2023. He succeeds interim CEO Jiande Chen, who returns as Vice Chairman. Manwaring brings extensive experience from CAA, where he led efforts in building relationships within the Chinese film industry and helping drive local and Hollywood films to theaters in China. His expertise positions IMAX to strengthen its leadership in the Chinese cinema market. CEO Rich Gelfond highlighted Manwaring’s experience and ties with filmmakers and financial partners as crucial assets for IMAX's growth.