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Cinema Stocks Surge Amid Report Amazon Plans $1B Theatrical Push

Cinemas stocks got a boost Wednesday after a report that online retailer Amazon plans to spend $1 billion a year on theatrical film releases. Bloomberg, citing unnamed sources, reported Amazon plans to release 12 to 15 movies in theaters, with the push into the local multiplex getting underway in 2023. An Amazon source tells The […]

Imax Stock Rises As Wall Street Analysts Post Bullish Forecast

Imax, having just unveiled its third quarter earnings, saw its stock price jump on Friday as investors look to the film technology company as possibly better-placed than its exhibition partners to benefit from a continued Hollywood box office recovery. “We view Imax as the best way to play the upcoming theatrical rebound, the best positioned to […]

Imax CEO “Optimistic” Over China’s Theatrical Recovery as Share Price Rises

Imax, more closely tied to the Chinese film industry’s fortunes than most Hollywood players, has felt the chill as box office in China faltered amid that country’s continuing coronavirus-era lockdowns. But Imax CEO Richard Gelfond, whose company licenses its technology to around 800 Imax-branded theaters in China, is feeling the warmth as media reports suggest […]

Imax Revenue Grows But Posts Overall Loss In Third Quarter

Imax kept up its pandemic-era box office recovery in the third quarter, despite a lull in the Hollywood movie pipeline. Overall revenue at the giant screen exhibitor came to $68.8 million, up 21 percent from a year-earlier $56.6 million, as Imax was impacted by partial COVID-related theater shutdowns in China. And Imax recorded a loss […]

Imax Signs 9-Theater Deal With Wanda in China Amid COVID Restrictions

Imax has unveiled a nine-theater deal with Chinese exhibitor Wanda Film, long a strategic linchpin for the giant screen exhibitor’s international expansion. Under the agreement, six new Imax screens will be installed in newly built multiplexes across top Chinese markets, including Shanghai, Shenzhen and Guangzhou. Additionally, Wanda will relocate and upgrade three of its existing Imax systems to […]

With Tech Buy, Imax Pushes to Diversify Revenue Beyond Box Office

“We are not an exhibitor.” That’s been Imax CEO Richard Gelfond‘s pitch to Wall Street as the exec aims to differentiate the giant-screen company from more volatile rivals like theater giants AMC and Cineworld. And, on Sept. 22, Imax unveiled a $21 million acquisition of a streaming video tech firm, SSIMWAVE, that would be surprising […]

Imax Buys Streaming Video Tech Firm for $21M 

Imax is looking to benefit from streaming era competition by acquiring SSIMWAVE, a Canadian tech start-up focused on optimizing video quality and viewer experience on multiple platforms. The giant screen pioneer is paying $18.5 million in cash and $2.5 million in stock for the streaming technology company, with $4 million in additional earnout payments to […]

Imax CEO Richard Gelfond Inks Contract Extension Through 2025

Imax renewed CEO Richard Gelfond’s contract through December 2025. According to a Sept. 19 filing with the Securities and Exchange Commission, Gelfond will retain his pre-existing compensation, equity and severance terms. Over the past three years, Gelfond has received a base salary of $1.2 million and a total compensation of $9.08 million, including other awards.  […]

Imax CEO Touts Pivot to Live Events, Exclusive Runs in Big Screen Theaters

Imax CEO Richard Gelfond says the giant screen exhibitor is accelerating its push beyond Hollywood movies to more live events in around 150 theaters currently for additional revenue streams. “The platform and the brand are so powerful on a global basis and I give our team high marks for that. But in terms of value […]

Imax Names Former HBO Max Exec Michele Golden as Global Chief People Officer

Imax has hired Michele Golden as its global chief people officer. She comes over from Warner Bros. Discovery where Golden served as chief human resources officer for HBO Max when the streaming platform launched as part of then WarnerMedia on its own. She will report to Imax CEO Richard Gelfond and chief legal officer Rob […]

Imax CFO Weighs In on Cineworld’s Bankruptcy Proceedings

After a strong summer box office run, theater chains have been girding themselves for a slowdown this fall amid a lack of studio tentpoles. And the disclosure that debt-laden Regal owner Cineworld is beginning Chapter 11 bankruptcy proceedings has ricocheted across the global theatrical industry. “Imax has a longstanding, great partnership with them,” said Imax […]

TIFF: Jordan Peele’s ‘Nope’ Set for Imax Screening at Film Fest

Jordan Peele’s latest film, Nope, is getting a special Imax screening at the Toronto Film Festival. The giant screen exhibitor has super-sized the Get Out director’s third film, which stars Daniel Kaluuya, Keke Palmer and Steven Yeun, for play at the Imax Cinesphere Theatre at Ontario Place. Peele will take part in a Q&A session […]