August 1, 2022
High-resolution theatrical distributor Imax Corporation said the recent box office success Paramount Pictures’ Top Gun: Maverick, Disney/Marvel Studios’ Doctor Strange in the Multiverse of Madness, and Universal Pictures’ Jurassic World Dominion contributed to second-quarter (ended June 30) revenue of $247.7 million compared with $108.6 million in revenue in the previous-year period.
The distributor said the increased revenue and audience engagement reduced the Q2 net loss to $2.9 million from $9.2 million during the same period last year.
“Imax is playing a leading role in the global resurgence in moviegoing,” CEO Richard Gelfond said in a statement. “In fact, our second quarter results in North America were on par with our record-breaking 2019.”
Gelfond said he was encouraged by the distributor’s three consecutive $25 million-plus global box office openings for the first time in its history. The executive believes upcoming theatrical releases such as Brad Pitt’s Bullet Train, Dwayne Johnson’s Black Adam, Black Panther: Wakanda Forever and Avatar: The Way of Water will drive big-screen ticket sales going forward.
“We continue to enhance and diversify our content portfolio with Hollywood blockbusters, more of which feature Imax DNA technology; local languages across a growing international footprint; documentaries; and live events,” Gelfond said. “We are focused on driving future growth for the company across our global network, content portfolio, and technology platform.”