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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.
IMAX Corporation (NYSE: IMAX) and Major Cineplex announced an expansion of their partnership with an agreement to install up to ten IMAX with Laser systems in Thailand and Cambodia by 2025. This expansion includes five new systems and four upgrades at key locations such as Bangkok and Phnom Penh. Major Cineplex, the largest exhibitor in Thailand, operates seven IMAX locations and has seen substantial box office success, including record attendance for 'Avatar: Way of Water'. The new installations will enhance IMAX's presence in Southeast Asia, where the company achieved its highest-grossing year in both countries in 2022.
IMAX Corporation and Galaxy Cinema have announced a significant partnership to introduce two state-of-the-art IMAX with Laser systems in Vietnam. This deal marks the first premium IMAX with Laser installations in the country, with locations set for Ho Chi Minh City and another site in 2023. The agreement expands IMAX's presence in Vietnam from four to six systems, being the first new construction in the market since 2019. Notably, IMAX experienced record box office success in Vietnam in 2022, including high grossing for Avatar: The Way of Water. The new theatres will utilize advanced 4K laser projection technology, providing enhanced visuals and sound quality for an unmatched viewing experience.
IMAX Corporation and French exhibition company Megarama announced a strategic agreement to install three new IMAX systems in France and Morocco, significantly expanding IMAX's presence in these markets. This deal will bring the total number of IMAX systems in France to 29, enhancing the cinematic experience for audiences. Megarama, which opened its first IMAX location in December 2022, is now IMAX's second-largest commercial client in France. The agreement is timely, as IMAX recently reported its best first quarter ever at the box office in France, achieving $9.3 million in Q1 2023. The new venues will feature IMAX with Laser technology, known for its superior image quality and sound. This expansion is part of IMAX's ongoing strategy to grow its global footprint in key markets.
IMAX Corporation (NYSE: IMAX) announced a conference call for discussing its first quarter 2023 financial results, scheduled for April 27, 2023, at 4:30 p.m. Eastern Time. Interested participants can access the call via webcast or by pre-registering for a telephone link. The call aims to provide insights into the company's performance during the first quarter, enhancing transparency for investors. Furthermore, IMAX continues its innovation in entertainment technology and is a leading provider of theatrical distribution platforms globally, with 1,716 IMAX systems operational in 87 countries as of December 31, 2022.
IMAX Corporation (NYSE: IMAX) reported record-breaking results from the animated film "The Super Mario Bros. Movie," which achieved an all-time high opening weekend for an animated film with
CEO Rich Gelfond highlighted how 2023 has yielded record openings across various genres, reflecting the strong demand for the IMAX experience. The film also set records in multiple international markets including the UK, Germany, and Latin America. Furthermore, it will continue to run on the IMAX network in the coming weeks.
IMAX Corporation (NYSE: IMAX) announced a record-breaking first quarter box office of $282.2 million for 2023, surpassing its previous record by over $10 million. The success stemmed from a diverse range of films, making it IMAX's highest grossing quarter for local language films. Highlights include $86.3 million from local language releases, with notable performances from titles like The Wandering Earth 2 in China and Pathaan in India. CEO Rich Gelfond expressed optimism for 2023, anticipating a return to pre-pandemic box office levels. IMAX plans to release 30 to 40 local language films this year.
On March 14, 2023, IMAX Corporation (NYSE: IMAX) announced a strategic partnership with EntTelligence. This agreement grants IMAX access to robust theatrical impression-based analytics derived from over 3,000 theaters. EntTelligence's advanced platform enables precise measurement of attendance and capacity at the seat level, providing valuable insights for IMAX's film slate. Steve Buck, Chief Strategy Officer at EntTelligence, highlighted the significance of this collaboration for enhancing audience engagement. Craig Dehmel from IMAX expressed enthusiasm about leveraging EntTelligence's technology to further enrich the IMAX Experience globally.
IMAX Corporation (NYSE: IMAX) announced the appointments of Gail Berman and Jen Wong to its Board of Directors on March 6, 2023. Berman is an accomplished executive with extensive experience in film, television, digital media, and Broadway, currently serving as CEO of The Jackal Group. Wong, currently the COO of Reddit, brings a wealth of knowledge in digital sales and strategy from positions at Time Inc. and AOL. CEO Rich Gelfond emphasized the importance of diversifying IMAX's expertise in a rapidly evolving entertainment landscape, with both leaders expected to enhance partnerships and the company's technology expansion.
IMAX Corporation (NYSE: IMAX) has expanded its partnership with Cineplexx Austria to introduce three new IMAX with Laser systems in Europe, including Kosovo, which will mark the first IMAX installation in that country. This agreement highlights IMAX's commitment to growth in Europe, particularly in markets like Austria and new territories. Cineplexx currently operates eight IMAX locations in Austria, Serbia, and Greece. IMAX continues to experience momentum in Europe, with recent successes like 'Avatar: The Way of Water' being the highest-grossing IMAX release. This expansion reflects IMAX's strategy to enhance audience experiences with advanced technology.
IMAX Corporation anticipates a return to pre-pandemic gross box office levels of $1.1 billion in 2023, buoyed by the strong opening of China and the success of 'Avatar: The Way of Water', which grossed around $250 million globally. The company achieved a record $61.3 million box office during the Chinese New Year, led by 'The Wandering Earth 2'. IMAX reported a 33% increase in gross global box office to $850 million in 2022, garnering a 4.8% share of the domestic box office. Despite a 10% decline in Q4 revenue year-over-year to $98 million, full-year revenue rose 18% to $300.8 million.
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