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IMAX Corporation (NYSE: IMAX) stands as a premier global technology platform for entertainment and events. Renowned for its immersive cinematic experiences, IMAX combines proprietary software, specialized auditorium architecture, and patented technology to deliver unparalleled visual and sound quality. The company's innovative approach enables it to be a leader in multiple facets: as a technology innovator, a Hollywood collaborator, and a global enterprise.
IMAX partners with top filmmakers and studios to enhance blockbuster movies and documentaries, ensuring that every film shown in its theaters offers a unique, awe-inspiring experience. The company's state-of-the-art systems are operational in over 1,772 theaters across 90 countries, making it a dominant force in the global cinema landscape.
Recent achievements highlight the company's robust performance and innovation. For instance, IMAX recorded a stellar 22% of the global box office for 'Dune: Part Two' in its second weekend, marking the biggest global weekend market share in the company's history. Furthermore, IMAX has expanded its footprint by partnering with Major Cineplex in Thailand and Miraj Cinemas in India, adding numerous state-of-the-art IMAX with Laser systems.
Financially, IMAX remains solid with significant liquidity and a strategic share-repurchase program aimed at enhancing shareholder value. As of March 31, 2024, the company reported available liquidity of $367.0 million and continues to invest in technology and global expansion.
IMAX's commitment to innovation extends beyond just films. It is also a pioneer in live events, gaming, and virtual reality experiences. Additionally, the company maintains a strong presence on social media and regularly engages with its audience through platforms like Instagram, Facebook, LinkedIn, X (formerly Twitter), and YouTube.
Headquartered in New York, Toronto, and Los Angeles, IMAX also operates offices in London, Dublin, Tokyo, and Shanghai. The company continues to drive forward with plans for further global expansion and technological advancements, solidifying its position as a leader in the entertainment industry.
On December 17, 2020, IMAX announced a new 12-theatre agreement with Guangzhou JinYi Media Corporation, enhancing its footprint in China's recovering film industry. This deal includes upgrading seven existing IMAX locations to IMAX® with Laser technology and adding five new systems. Post-agreement, IMAX will operate 989 screens in China. JinYi, a major film exhibitor, reported RMB 2.88 billion in box office revenue in 2019. IMAX has seen a significant rebound in attendance, achieving RMB 128 million during the National Day Holiday, and grossing nearly $80 million since theaters reopened.
On December 7, 2020, IMAX Corporation announced that CEO Richard L. Gelfond and CFO Patrick McClymont will present at the MKM Partners Virtual Conference on December 16, 2020, at 11:10 a.m. Eastern Time. The conference will be accessible via live webcast at investors.imax.com and archived for 90 days. IMAX continues to be a leader in entertainment technology, operating 1,632 theater systems in 82 countries as of September 30, 2020, and enhancing audience experiences worldwide.
IMAX reported third quarter 2020 revenue of $37.3 million, down 56.9% from $86.4 million in Q3 2019, with a net loss of $47.2 million versus a profit of $9 million a year prior. The company ended the quarter with $305 million in cash, expecting break-even cash flow for Q4 2020 and Q1 2021. Despite challenges from COVID-19, IMAX installed 23 systems and signed agreements for 10 more, highlighting robust demand for its technology. Local language films, particularly in Asia, are driving box office returns, indicating a potential recovery in the global theatrical market.
IMAX Corporation (NYSE: IMAX) and TOHO Co., Ltd. (TYO: 9602) have formed a significant agreement to release five films in IMAX theatres, marking the largest deal with a non-Hollywood studio. This partnership highlights the success of "Demon Slayer The Movie: Mugen Train," which grossed $44 million in its opening weekend, with $2.3 million from IMAX. The deal includes upcoming releases through at least 2021, strengthening IMAX's foothold in Japan, which has become a lucrative market for the company.
IMAX Corporation will host a quarterly conference call to discuss its third-quarter 2020 financial results on October 29, 2020, at 8:30 a.m. Eastern Time. The call will be accessible via webcast on the investors website and by telephone for US and Canadian callers at (800) 367-2403. This call aims to provide investors and analysts with insights into the company's performance amidst ongoing industry challenges. IMAX operates 1,615 theater systems across 81 countries, serving as a key distribution platform for major films worldwide.
IMAX Corporation reported a record-breaking $13 million opening weekend during the National Day Golden Week in China, a 25% increase compared to last year, despite 75% capacity limitations. The animated film "Jiang Ziya: Legend of Deification" led the box office with $11.5 million, breaking several IMAX records. The company has grossed $53.2 million since theaters reopened in July, with 97% of its theaters in China now operational. CEO Rich Gelfond highlighted the strong recovery in the country as a stabilizing factor amidst global uncertainties.
IMAX Corporation announced the launch of the 'Filmed In IMAX' program, partnering with leading camera manufacturers like ARRI, Panavision, RED, and Sony. This initiative aims to certify high-end cameras for use in IMAX's unique format, enhancing the overall viewing experience. Upcoming films including Top Gun: Maverick and Dune will feature this certification. The program is designed to meet rising filmmaker demand and offers a wider selection of films annually, ensuring optimal performance on IMAX's theatrical platform.
IMAX Corporation (NYSE: IMAX) announced that CEO Richard L. Gelfond and CFO Patrick McClymont will present at the Goldman Sachs 29th Annual Communacopia Conference on September 16, 2020, at 3:45 p.m. ET. The presentation will be available via live webcast and archived for 90 days. IMAX continues to innovate in entertainment technology, boasting 1,615 theater systems worldwide as of June 30, 2020, and is a key player in the theatrical distribution of major films.
On September 6, 2020, IMAX Corporation reported that Warner Bros. Pictures' film "Tenet" surpassed expectations with a global box office earning of $11.1 million during its debut weekend in IMAX, marking the largest September weekend for the company. The film achieved $16.3 million in total IMAX earnings since its international release on August 26. Notably, "Tenet" contributed 14% of the overall weekend box office despite representing only 1% of screens. Strong performances were noted in China, where it grossed $5.3 million, and in North America with $2.8 million.
IMAX Corporation (NYSE: IMAX) announced that CEO Richard L. Gelfond and CFO Patrick McClymont will present at the BofA Securities 2020 Media, Communications and Entertainment Conference on September 9, 2020, at 1:30 p.m. Eastern Time. The conference will be available for live streaming and archived for 90 days on investors.imax.com. As of June 30, 2020, IMAX operates 1,615 theater systems worldwide. The company focuses on creating immersive cinematic experiences through its unique technology.
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