Giant screen specialist IMAX unveiled its latest quarterly (Q2) numbers July 23rd and heard CEO Richard Gelfond say that the period had delivered “better than expected” theatre installations and “robust” revenues (up 35 per cent y-o-y). Box office revenues were $343 million.
“Our growth this quarter was primarily driven by our stellar box office performance with Jurassic World, Avengers 2 and Furious 7 driving three consecutive months of over $100 million in IMAX box office for the first time in our history,” said Gelfond.
Gelfond’s Chinese business is in good shape and he told analysts that the recent fluctuations in the Chinese stock market had not influenced IMAX to alter its plans for an IPO for its Chinese business (which will be listed in Hong Kong). He gave no date for the IPO, although the prospectus was published in May.
He also updated analysts with Hollywood news, and that Captain America 3 would see key sequences shot with IMAX cameras, while the next pair of Avengers sequels (Infinity Wars Parts 1 and 2) would both be filmed using IMAX/Arri next generation digital cameras. “Just briefly to remind you a whole film has never been shot with IMAX cameras before. The two-part Avengers saga marks the first time that a Hollywood film has ever been [filmed] entirely with our technology.”
IMAX cameras are also in use by JJ Abrams in Star Wars, he said.