Imax Corp Stock Price, News & Analysis

IMAX (NYSE: IMAX) has appointed Jonathan Fischer as Chief Content Officer, responsible for overseeing the company's content strategy across various platforms. Fischer, previously Vice President of Content Strategy & Analysis, Global Films at Netflix, will be based in IMAX's Playa Vista office and report to CEO Rich Gelfond.

In his new role, Fischer will manage IMAX's expanding content portfolio, which includes over 100 experiences across films, documentaries, music, sports, and gaming in 2024. He will work with Distribution, Post-Production, and IMAX Documentaries teams, while collaborating on new business initiatives. Fischer's experience includes leadership roles at Illumination Entertainment, New Regency Entertainment, and various other entertainment companies.

This appointment aligns with IMAX's strategy to offer a more diverse content portfolio to global audiences, leveraging Fischer's expertise in content strategy and analysis.

IMAX (NYSE: IMAX) announced that Disney's "Moana 2" and "Mufasa: The Lion King" will be shown in IMAX theaters globally later this year. "Moana 2", the sequel to the 2016 hit, will debut on November 27, while "Mufasa: The Lion King" will premiere on December 20. The Walt Disney Studios released a new poster and TV spot for "Moana 2", featuring a snippet of a new song called "We're Back".

IMAX CEO Rich Gelfond expressed excitement about the films strengthening IMAX's year-end slate. Disney's EVP of Theatrical Distribution, Tony Chambers, highlighted the opportunity for audiences to experience these films on IMAX's screens worldwide. Both movies feature star-studded voice casts and are produced using advanced filmmaking techniques.

IMAX (NYSE: IMAX) has announced its participation in the 2024 Bank of America Media, Communications and Entertainment Conference in New York, NY. The event will feature a fireside chat with IMAX CEO Rich Gelfond on Wednesday, September 4th at 2:50 p.m. ET. This virtual fireside chat will be accessible via a live webcast on the IMAX investor relations website.

In addition to the fireside chat, IMAX representatives will engage in one-on-one investor meetings during the conference. This participation underscores IMAX's commitment to investor relations and provides an opportunity for the company to share insights with industry professionals and potential investors.

IMAX (NYSE: IMAX) and Disney/Marvel achieved significant records with the global debut of 'Deadpool & Wolverine', earning $36.5 million globally — the biggest IMAX opening since 2022.

This debut marks:

• Biggest IMAX July opening ever
• Biggest IMAX R-rated opening
• Biggest IMAX opening since 'Avatar: The Way of Water' (2022)
• Biggest Marvel IMAX opening since 'Spider-Man: No Way Home' (2021)

In North America, the film grossed $19.1 million, accounting for 9.3% of the domestic box office on just 1% of screens, with an impressive $46,000 per screen average. International markets like China contributed significantly, with $5 million in IMAX revenue, 21% of the nationwide total on less than 1% of screens.

The film opened on 1,642 IMAX screens in 83 markets and will continue its run into August, followed by other major releases such as 'Joker: Folie á Deux' and 'Venom: The Last Dance'.

IMAX reported solid Q2 2024 results, with revenue of $89 million, net income of $3.6 million, and EPS of 7 cents. The company saw significant growth in new system signings, up 89% to 87, and increased system installations by 20% to 24. IMAX raised its full-year 2024 installation guidance to 130-150 systems, up from 128 in 2023. Global box office reached $196 million for the quarter, boosted by a strong June. The company's cash from operations climbed to $35 million, a substantial increase from $5 million in Q2 2023. IMAX highlighted its strong position post-strikes and pandemic, with a robust film slate through 2026 and continued expansion in key markets like India, the Middle East, and Southeast Asia.

IMAX and muvi Cinemas, Saudi Arabia's largest exhibitor, have announced their first collaboration with an agreement for four new IMAX® with Laser systems in key commercial centers. The partnership includes two systems in Riyadh, one in Jeddah's Mall of Arabia, and the first-ever IMAX system in Dhahran. Three locations are set to open by the end of 2024, with the fourth following in 2025.

This expansion strengthens IMAX's presence in Saudi Arabia, a market that has shown significant growth and potential since 2019. The country consistently ranks among IMAX's top 20 globally, with recent releases like 'Oppenheimer' and 'Bad Boys: Ride or Die' achieving historic success. The new locations will feature IMAX with Laser technology, offering superior image quality and precision audio.

IMAX (NYSE: IMAX) has announced a conference call to discuss its second-quarter 2024 financial results. The call is scheduled for Thursday, July 25th at 8:30 a.m. Eastern Time. The webcast will be accessible at IMAX's investor relations website. Interested participants need to pre-register at the provided link to receive a dial-in number and unique PIN. To avoid delays, it is recommended to dial in ten minutes before the call starts. A replay of the call will be available on the company's investor relations website.

Wanda Film and IMAX have announced an expanded strategic partnership to enhance their footprint in China. The agreement entails upgrading 61 top-performing Wanda Film locations to IMAX® with Laser technology, renewing up to 37 existing IMAX locations, and potentially adding 25 new locations over the next three years. The collaboration also includes developing exclusive content and experiences in documentaries, music, gaming, and sports. This move strengthens IMAX's leading position in China, ensuring continued growth and innovation in the cinematic experience.

IMAX and French exhibition company MEGARAMA have announced an agreement to install three new IMAX with Laser systems in France. This deal will double IMAX's footprint with MEGARAMA and includes locations in the northern part of France (set to open in 2025) and two in the suburbs of Paris (scheduled for 2026). Currently, IMAX and MEGARAMA operate two locations in France, with four more planned sites in the backlog. The new locations will feature IMAX's advanced laser projection technology, enhancing the cinematic experience with better image quality and sound. This agreement follows a successful year for IMAX in France, highlighted by record box office earnings of over $23 million in 2023 and a strong Q1 in 2024 driven by the success of "Dune: Part Two".