threadbare release slate and decades-low grosses in August and September. The premium format company reported earnings of $2.6 million or 19 cents per share, an improvement from last quarter’s loss of 3 cents per share and beating projections of 15 cents per share.While Imax’s total box office only reached $177 million in Q3, “Avatar: The Way of Water” alone nearly eclipsed that total with $160 million grossed in Q4.
The overall quarterly cume worldwide reached $251.6 million, a 42% increase from last quarter. Imax has further cemented its position as a major contributor to the success of blockbusters upon which the box office and exhibitors have become even more reliant than before the COVID-19 pandemic.
As “Avatar: The Way of Water” reached an astonishing $2.24 billion in global box office grosses, Imax estimates that 11% of that total has come from tickets sold for screenings in its auditoriums.
Signs point to Imax posting a stronger Q1 over last year thanks to a record $61.3 million Lunar New Year period in China along with holdover grosses from “Avatar 2” and $24 million grossed worldwide during the opening weekend of “Ant-Man and the Wasp: Quantumania.” Imax will also support several March blockbusters including MGM’s “Creed III,” Warner Bros./New Line’s “Shazam!: Fury of the Gods” and Lionsgate’s “John Wick: Chapter 4.”.
Read more on thewrap.com
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