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Wall Street analysts have given a thumbs-up to Imax’s $124 million planned deal to take full control of its Chinese unit. Imax had unveiled the transaction to acquire the remaining 28.5 percent stake in its Shanghai-based subsidiary, or around 96.3 million shares currently trading on the Hong Kong Stock Exchange, on Wednesday. The company currently…
Imax has unveiled a deal to acquire a 28.5 percent stake in its Shanghai-based subsidiary that oversees its theatrical business in China and which it does not already control. Imax currently has around 770 branded commercial locations in China, the most of any market worldwide and a key component of its international expansion outside of North…
Imax has boarded production on a new nature documentary, The Elephant Odyssey, chronicling 16 wild Asian elephants’ improbable journey across China’s Yunnan province. Filmed with Imax cameras and slated for release across the Imax theater network in 2024, the 90-minute documentary is currently in production in China. Co-producers with Imax are Singapore’s Beach House Pictures…
The global box office recovery for Imax has been driven by drawing premium ticket prices and releasing local language blockbusters in Asia. So says Imax CEO Richard Gelfond, who told an investors conference that consumers coming out of the pandemic are willing to pay a premium for “something special,” whether for music concerts or live…
Imax continues to expand its theater network in Asia with two new multi-theater deals in Thailand and Vietnam unveiled at CinemaCon in Las Vegas on Monday. The first agreement with Thai exhibitor Cineplex for up to ten new theaters with laser projection systems includes another five new theaters across Thailand, in addition to four upgrades…
Imax and French exhibitor Megarama have expanded their business relationship with a new three-theater deal. Megarama is set to launch two large format theaters with laser projection in France, in Givors and Boulogne-Sur-Mer, while opening a third location in Rabat, Morocco. The latest deal will triple Imax’s footprint in France with Megarama and bring the…
Imax to Expand in Japan With 7 New Locations Imax is demonstrating its bullishness on the Japanese theatrical market. The company unveiled a deal Wednesday with local exhibitor Aeon Entertainment to add seven new, state-of-the-art Imax with laser theaters across Japan this year. All seven systems are scheduled to be installed in existing multiplexes by summer 2023…
Entertainment Stock Picks for 2023: What Wall Street Is Bullish About Despite Downbeat Sentiment Many entertainment industry CEOs and investors may want to quickly forget 2022, given how it decimated various media sector stocks. However, 2023 doesn’t look like it will bring much reprieve near-term. After all, recession fears and their impact on advertising revenue,…
Imax China Hires CAA Executive Daniel Manwaring as CEO Imax has named veteran Beijijng-based executive Daniel Manwaring CEO of its Imax China subsidiary. Manwaring, who has been based in China since 2006 and speaks fluent mandarin, joins the giant screen exhibitor from CAA, where he spent the past decade, most recently leading the agency’s China…
“Dragon Ball Super: SUPER HERO Guides Imax to Look at Local Films to Boost Profits” During IMAX’s Q3 2022 earnings call this week, the proprietary film format company announced that they had missed their Wall Street’s third-quarter earnings projections due to “a temporary slowdown in the Hollywood pipeline” but was helped by the global…