IMAX Corporation reports developments in entertainment technology, premium theater systems and immersive cinematic releases. The company delivers IMAX experiences through proprietary software, auditorium architecture and projection systems, with business activity organized around Content Solutions and Technology Products and Services.
Recurring IMAX news includes quarterly results, global box office performance, Filmed For IMAX releases, exhibitor partnerships, IMAX with Laser system agreements, network expansion, investor conference participation and governance updates. Company announcements often connect studio content, local-language releases and theater-system signings to the economics of its global platform.
IMAX China reported a 2020 revenue of approximately US$52.3 million, down 58% from 2019, primarily due to COVID-19 theatre closures. However, a rebound in the second half saw box office figures return to 80% of prior levels, with revenue of US$45.6 million and adjusted earnings of US$10.9 million. The company maintained its dividend of US$0.02 per share and plans to increase the payout ratio to 50% of net income. IMAX China also expanded its network, signing agreements for 38 new theatre systems, despite a decline in installations due to pandemic disruptions.
IMAX Corporation reported Q4 and full-year 2020 results, highlighting a recovery in Asian box offices, particularly in China and Japan. Q4 revenues reached $56 million, a 54.9% decline year-over-year, with a net loss of $21.2 million. Despite challenges, IMAX installed 33 systems and signed 11 agreements, ending the year with 527 systems in backlog. The company achieved positive EBITDA and free cash flow for the first time since Q1 2020, with cash reserves increasing to $317 million. IMAX remains optimistic about the global film industry's recovery as vaccination efforts accelerate.
IMAX Corporation (NYSE: IMAX) announces that CEO Rich Gelfond will present at the Morgan Stanley Technology, Media, and Telecom Virtual Conference on March 3, 2021, at 3:30 p.m. Eastern Time. The presentation will be available via live webcast at investors.imax.com and archived for 90 days. IMAX, known for its innovative entertainment technology, currently operates 1,632 theaters globally, providing unique cinematic experiences. For more information, visit www.imax.com.
IMAX Corporation achieved a record-breaking $25 million in box office revenue during the Chinese New Year weekend, marking a 45% increase over its previous record in 2019. The film "Detective Chinatown 3" contributed significantly with $23.5 million, setting new records for both opening weekend and day for Chinese films. IMAX's market share surged, capturing 6% of the film's box office despite only 1% of overall screens. Since reopening, IMAX has grossed $126 million in China, with impressive monthly growth rates of 28% in December and 140% in January.
IMAX Corporation (NYSE: IMAX) will hold a quarterly conference call on March 4, 2021, at 4:30 p.m. Eastern Time to discuss its fourth-quarter and full-year 2020 financial results. The call will be accessible via webcast and telephone. Investors can dial (800) 437-2398 in the US or (647) 792-1240 internationally. The conference ID is 3139582. IMAX operates 1,632 theater systems globally, emphasizing its status as a key player in cinematic technology.
IMAX China (HKSE: 1970) will hold a quarterly conference call on March 4, 2021, at 7:00 p.m. ET to discuss its full-year 2020 financial results. The call can be accessed by dialing the respective numbers for US, Canada, and international participants. A replay will be available via webcast.
IMAX China focuses on expanding IMAX's business in Greater China and operates 1,632 theater systems globally as of September 30, 2020. The company is a subsidiary of IMAX Corporation, a leader in entertainment technology.
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.