Imax Corp - IMAX STOCK NEWS

IMAX Corporation reported record-breaking box office revenue of $61.3 million during the recent Chinese New Year holiday, a 72% increase compared to 2022. This performance marks the company's best-ever results for Chinese local language films during this peak period. The success was largely driven by 'The Wandering Earth 2', which generated $50.4 million on IMAX screens, constituting 9% of the film's total box office. IMAX has already earned $82 million in 2023 from the Chinese box office, significantly exceeding its revenue for all of 2022. CEO Rich Gelfond expressed optimism for the future as China rebounds as a leading moviegoing market.

IMAX Corporation (NYSE: IMAX) has announced a significant expansion of its partnership with Cinema XXI, Indonesia's largest cinema chain, by adding ten new IMAX with Laser systems. This deal will double the number of IMAX theatres in Indonesia from ten to twenty and is the largest agreement for new systems since 2020. Locations will include key cities such as Bandung and Jakarta, with a rollout expected through 2027. IMAX aims to strengthen its market presence in Indonesia, which showed promising growth with notable releases in local cinema. The new theatres will enhance the moviegoing experience with advanced technology.

SSIMWAVE, part of IMAX, will utilize its Emmy Award-winning technology to evaluate the video quality of various broadcast and OTT streams during the upcoming pro football championship on February 12, 2023. The technology will assess viewing experiences, measuring impairments, latency, and overall quality using its SSIMPLUS metric. A detailed report card will be generated for each service, highlighting viewer experiences, latency, and video quality during halftime and ads. Results will be announced on February 13, providing insights into viewer experiences and identifying key video issues.

IMAX Corporation (NYSE: IMAX) has scheduled a conference call on February 22, 2023, at 4:30 p.m. Eastern Time to discuss its fourth quarter and full-year 2022 financial results. The call will be accessible via webcast and requires pre-registration for telephone access. IMAX continues to innovate in entertainment technology, operating 1,703 systems globally as of September 30, 2022. The company emphasizes its significant role in theatrical distribution for major films worldwide. More details can be found on their investor relations website.

IMAX China (HKSE: 1970) will hold a conference call on February 23, 2023, at 8:00 AM Hong Kong time to discuss its full-year 2022 financial results. The call can be accessed via a webcast or by telephone, with pre-registration required. IMAX China, a subsidiary of IMAX Corporation, oversees the company's expansion in Greater China. As of September 30, 2022, IMAX operated 1,703 systems globally, reflecting its significant presence in the market. The call's replay will be available online after the event.

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.