Advanced Television

IMAX hit hard by Coronavirus

March 4, 2020

By Chris Forrester

Giant screen specialist IMAX is hurting especially badly from the Coronavirus. IMAX receives some 31 per cent of its revenues from China but cinemas in China are closed. Not helping is that patrons to non-Chinese theatres around the world are also down.

Last year generated record revenues for IMAX and this year, because of the number of blockbuster movies being released, was expected to generate even greater numbers.

However, IMAX is suffering a series of 52-week lows in terms of its stock price. February 27th saw a dramatic fall (along with many other quoted businesses in the US) to just $15.02 per share, and well down on its usual valuations which are nearer $22.

Meanwhile, the release of the latest James Bond movie has been postponed. The 25th movie in the series, No Time to Die, was due for release on April 3rd but has now been put back to November amid the Coronavirus outbreak.

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