On Wednesday, IMAX disclosed its financial results for the final quarter, revealing an increase in net profits due to a surge in total revenue.
During the most recent financial quarter, movies such as “Gladiator II,” “Venom: Final Act,” and “Mufasa: The New Lion King” were top performers on their screens. A year ago, Imax featured “Aquaman 2,” “Taylor Swift’s Era Tour,” and “Wonka” on its large-screen network.
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In Q4, our total revenue reached an impressive $92.7 million, marking an 8% growth compared to the same quarter last year with earnings of $86 million. As the movie industry recovers from the pandemic, Imax is poised to capitalize on the heightened interest in new and updated global theater systems.
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Our fourth-quarter revenue hit $92.7 million this year, a 8% increase over last year’s $86 million. With the movie industry recovering from the pandemic, Imax is aiming to take advantage of the rising demand for modernized and upgraded theater systems across the globe.
In contrast to the earnings of $2.5 million during the same timeframe last year, the large-format exhibitor posted a net income of $5.2 million in Q4. This represents a significant increase, as the quarterly adjusted per-share profit climbed from 11 cents to 27 cents compared to the previous year.
In summary for the year 2024, Imax announced setting up or upgrading 146 Imax systems globally, surpassing their initial estimate range of 120 to 150 systems. For the following year, 2025, they anticipate exceeding a box office record of over $1.2 billion and aiming to install between 145 and 160 more Imax systems.
2024 marked a significant milestone for IMAX, as it solidified its pivotal role within the worldwide entertainment industry. The company broadened its collaborative network with filmmakers utilizing their technology, reinforced marketing efforts within studios, surpassed installation expectations, and pioneered to enlarge its content – such as the agreement with Netflix for the early IMAX release of Greta Gerwig’s Narnia series across the global IMAX network prior to its streaming debut. This was announced by Richard Gelfond, IMAX CEO, before an after-market analyst call.
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2025-02-20 00:24