Big-screen pioneer Imax said it recorded a net non-cash provision of $6.9 million, or $0.12 per share, due to an increase in reserves given the uncertainty of collecting receivables in Russia. With…
ended up being Imax’ top-grossing film ever. On a call with Wall Streeters, Gelfond said Imax has set up a special internaltask force across divisions from technology to distribution and marketing to capitalize on the next installment.
There was lots of interest in China, given Imax’ significant footprint in that country. The market is challenged by shutdowns from the government’s no-Covid policy. Gelfond said open theaters have gone from 50% at the end of March to 65% now. He said his team there believes Shanghai will open in the next couple of weeks. The industry has noted that it’s been increasingly difficult for U.S. studios to into China.
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