As a lifelong movie enthusiast who’s seen more films than I’d care to count, I must say the recent financial performance of Imax is quite impressive, even if it pales in comparison to the legendary J. Robert Oppenheimer himself. The box office success of “Deadpool & Wolverine” and other titles like “Beetlejuice Beetlejuice,” “Alien: Romulus,” and “Transformers One” on Imax screens is a testament to the enduring appeal of these iconic franchises.
The team-up between Deadpool and Wolverine, known for its R-rated humor and disregard for convention, significantly boosted Imax’s quarterly earnings. This is particularly impressive given that Imax is now closely associated with comic book movies. In the global Imax network of screens, the film grossed $83 million – the fifth highest for a Marvel movie. Yet, even the Mouth with the Merc and the Man with Adamantium claws couldn’t outdo J. Robert Oppenheimer in terms of impact.
In summary, the company’s total revenue peaked at $91.5 million, representing a decrease of 12% compared to the $103.9 million earned during the same period last year when “Oppenheimer,” filmed with Imax cameras, was among its highest-grossing films. For the quarter ending in September, net income increased by 16% to $13.9 million, contrasting the $12 million reported in the previous year’s equivalent period. Earnings per share remained constant at 38 cents, while adjusted EBITDA dropped by 23%, from $50.5 million to $38.7 million.
In summary, Imax’s global earnings from the box office amounted to approximately $239 million, which is a decrease compared to the $347 million earned during the same three-month period in 2023. As of now, Imax has signed contracts for 119 Imax systems across the globe, with these systems being established in significant markets like France, Australia, and Saudi Arabia.
Alongside “Deadpool & Wolverine,” other significant films premiered in IMAX during the last quarter, such as “Beetlejuice Beetlejuice,” “Alien: Romulus,” and “Transformers One.” Upcoming this year are “Wicked” and “Mufasa: The Lion King.
According to Imax CEO Richard Gelfond, he anticipates that the year 2025, featuring sequels for “Mission: Impossible” and “Avatar,” will mark Imax’s most successful global box office year in history. Furthermore, he forecasts Imax to rake in approximately $1.2 billion worldwide.
Additionally, the acclaimed director Nolan is set to make his comeback next year. Known for “Oppenheimer,” he’ll be bringing a fresh, enigmatic movie featuring Tom Holland and Matt Damon which is scheduled for release in 2026.
It was announced by Gelfond that Chris will be employing brand new Imax technology in his film production, which is state-of-the-art equipment that our teams have been perfecting over the past year. He made this revelation during a call with analysts and investors shortly after the release of our quarterly results.
More to come…
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2024-10-30 23:48