Latest news with #Gelfond
Yahoo
15-05-2025
- Entertainment
- Yahoo
‘Narnia's Short Theatrical-To-Netflix Window Won't Cannibalize Imax B.O., CEO Rich Gelfond Says
The 28-day theatrical window for Greta Gerwig's Netflix movie Narnia isn't expected to hurt its Imax ticket sales, according to the large-format exhibitor's CEO Rich Gelfond. Quite often distributors like to keep audiences in the dark on movie Premium VOD and streaming release dates in advance so that such intel doesn't impact a movie's potential box office. More from Deadline 'The Odyssey' Is First Film Shot Entirely With Imax Film Cameras: How CEO Rich Gelfond Met Christopher Nolan's Challenge Imax, Federation & Imago Join Forces On Documentary 'Patrouille De France' – Cannes EST N8 Acquires Philippine Eco-Horror 'The Caretakers' By Shugo Praico - Cannes Market In what is arguably a first for Imax, Gerwig's feature take of C.S. Lewis' classic is getting an exclusive two-week global run in the format across 1,000 auditoriums in 90 countries beginning November 26, 2026, with a streaming debut to follow on Netflix on Christmas Day. 'Imax is so differentiated from the streaming experience,' said Gelfond on Wednesday at a Cannes luncheon and press conference. 'I don't think we're concerned that the streaming window is going to cannibalize.' 'We're quite confident that won't matter,' he added regarding the big difference between Imax moviegoers' demands and those of Netflix subscribers. '[Netflix is] in a different business and that is selling subscriptions. In structuring the deal, we tried to accommodate how to meet their needs and how to meet our needs,' said Gelfond. 'PVOD at 17 days hasn't really hurt the Imax box office,' Gelfond added. 'I don't think people think those are competitive things.' In regards to the box office prospects for a two-week Imax run of a movie that's primed to get a big studio awards push, it's anybody's guess. Netflix's limited release of Rian Johnson's Glass Onion: A Knives Out Mystery earned $15 million in its first week back in 2022, while Imax's global run of Christopher Nolan's Oppenheimer minted a massive $100M (that was further propped by a 2D campaign from Universal). While Imax is committed to a two-week run of Narnia, 'we have the option to extend the run,' says Gelfond. He added today that Gerwig is still mulling whether to shoot Narnia with Imax cameras. Best of Deadline Where To Watch All The 'Mission: Impossible' Movies: Streamers With Multiple Films In The Franchise Everything We Know About 'My Life With The Walter Boys' Season 2 So Far 'Bridgerton' Season 4: Everything We Know So Far
Yahoo
28-04-2025
- Business
- Yahoo
IMAX Q1 Earnings Call: Local Language Films and Global Installations Drive Outperformance
Premium cinema technology company IMAX (NYSE:IMAX) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 9.5% year on year to $86.67 million. Its non-GAAP profit of $0.13 per share was 14.9% above analysts' consensus estimates. Is now the time to buy IMAX? Find out in our full research report (it's free). Revenue: $86.67 million vs analyst estimates of $84.23 million (9.5% year-on-year growth, 2.9% beat) Adjusted EPS: $0.13 vs analyst estimates of $0.11 (14.9% beat) Adjusted EBITDA: $28.05 million vs analyst estimates of $27.9 million (32.4% margin, 0.5% beat) Operating Margin: 19.3%, up from 15.3% in the same quarter last year Free Cash Flow was -$7.67 million compared to -$18.11 million in the same quarter last year Market Capitalization: $1.28 billion IMAX's first quarter was driven by a surge in local language box office performance, particularly in China, and a significant ramp-up in global system installations. CEO Richard Gelfond credited the company's best-ever Q1 box office to an expanding slate of high-production-value releases, including local-language blockbusters and a growing number of films shot specifically with IMAX cameras. Gelfond emphasized the importance of social media-driven marketing strategies and strong partnerships in Asia and other international markets as key differentiators this quarter. Looking ahead, management highlighted a robust pipeline of Hollywood and local-language content, with high-profile releases scheduled through the end of the decade. Gelfond stated, 'The fundamentals of our business have never been stronger,' while CFO Natasha Fernandes pointed to a solid backlog of signed system agreements and ongoing operational efficiency initiatives as factors supporting sustainable margin expansion and network growth. IMAX's leadership attributed quarterly outperformance to a mix of content strategy, international market momentum, and operational improvements. Management addressed external concerns about film import restrictions in China and evolving industry trends, emphasizing the company's unique position in premium cinema. Local Language Film Success: IMAX's box office was heavily weighted toward local language content, especially in China where Chinese New Year releases exceeded expectations. Gelfond noted that the company achieved triple its previous record in China, and this segment accounted for 68% of global box office in the quarter. Hollywood Slate Visibility: Management stressed visibility into an extended pipeline of Hollywood blockbusters, many filmed with IMAX cameras. Advanced scheduling allows IMAX to secure preferred release windows and maintain a steady flow of high-profile content. Network Expansion: CFO Natasha Fernandes highlighted strong exhibitor demand, with 101 new and upgraded system agreements signed year to date—nearly matching all of last year's total signings. The company's backlog now stands at 516 systems, positioning IMAX for future growth. Marketing Evolution: IMAX shifted its marketing approach, investing more in social media and partnerships, particularly in Asia. This digital focus reduced costs and increased reach, which contributed to margin improvements. Operational Efficiency: The company continues to streamline operations by centralizing functions and eliminating redundancies, helping to boost margins and support scalable growth as global installations accelerate. Management's outlook for the remainder of the year centers on a diverse content slate, further expansion of the IMAX network, and sustained operating margin improvements, while monitoring external risks in key international markets. Content Pipeline Depth: The company expects both Hollywood and local-language releases to drive attendance, with upcoming titles like Avatar: Fire and Ash and Demon Slayer: Infinity Castle cited as high-impact opportunities. International Market Penetration: Ongoing growth in Asia, the Middle East, and Europe remains a strategic focus, supported by new signings in high-performing markets and increased exhibitor investment. Operating Leverage and Cost Controls: Management believes continued operational streamlining and automation, particularly in digital remastering (DMR), will enable margin expansion even as the business scales globally. Eric Wold (Texas Capital Securities): Asked about the risk of reduced Hollywood film imports to China and the impact on IMAX's slate; Gelfond responded that major blockbusters remain unaffected and demand from Chinese partners is increasing. Chad Beynon (Macquarie): Questioned whether recent outperformance in China was concentrated in certain city tiers; Gelfond stated that strength was uniform across markets and attributed part of the success to targeted social media marketing. David Karnovsky (JPMorgan): Inquired about the effect of shorter theatrical windows and higher system installs on guidance; Fernandes clarified that installation timing was driven by exhibitor readiness and that content margin gains reflected box office mix and digital marketing. Omar Mejias Santiago (Wells Fargo): Asked if a potential Chinese economic slowdown could pressure attendance; Gelfond noted that Q1 was a slow period economically in China, yet IMAX set records, arguing moviegoing remains an affordable luxury. Steven Frankel (Rosenblatt Securities): Asked about the impact of increased DMR workload on margins; Gelfond explained that automation and outsourcing have reduced costs, and margins have improved as a result. The StockStory team will be watching (1) the box office performance of high-profile Hollywood and local-language releases in both established and emerging markets, (2) the pace and diversity of new system installations across regions such as Asia, Europe, and the Middle East, and (3) evidence of further margin improvement from operational efficiency and digital marketing initiatives. Execution on these fronts will be crucial to sustaining IMAX's growth trajectory. IMAX currently trades at a forward P/E ratio of 19.1×. At this valuation, is it a buy or sell post earnings? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Sterling Infrastructure (+1,096% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
28-04-2025
- Business
- Yahoo
IMAX Q1 Earnings Call: Local Language Films and Global Installations Drive Outperformance
Premium cinema technology company IMAX (NYSE:IMAX) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 9.5% year on year to $86.67 million. Its non-GAAP profit of $0.13 per share was 14.9% above analysts' consensus estimates. Is now the time to buy IMAX? Find out in our full research report (it's free). Revenue: $86.67 million vs analyst estimates of $84.23 million (9.5% year-on-year growth, 2.9% beat) Adjusted EPS: $0.13 vs analyst estimates of $0.11 (14.9% beat) Adjusted EBITDA: $28.05 million vs analyst estimates of $27.9 million (32.4% margin, 0.5% beat) Operating Margin: 19.3%, up from 15.3% in the same quarter last year Free Cash Flow was -$7.67 million compared to -$18.11 million in the same quarter last year Market Capitalization: $1.28 billion IMAX's first quarter was driven by a surge in local language box office performance, particularly in China, and a significant ramp-up in global system installations. CEO Richard Gelfond credited the company's best-ever Q1 box office to an expanding slate of high-production-value releases, including local-language blockbusters and a growing number of films shot specifically with IMAX cameras. Gelfond emphasized the importance of social media-driven marketing strategies and strong partnerships in Asia and other international markets as key differentiators this quarter. Looking ahead, management highlighted a robust pipeline of Hollywood and local-language content, with high-profile releases scheduled through the end of the decade. Gelfond stated, 'The fundamentals of our business have never been stronger,' while CFO Natasha Fernandes pointed to a solid backlog of signed system agreements and ongoing operational efficiency initiatives as factors supporting sustainable margin expansion and network growth. IMAX's leadership attributed quarterly outperformance to a mix of content strategy, international market momentum, and operational improvements. Management addressed external concerns about film import restrictions in China and evolving industry trends, emphasizing the company's unique position in premium cinema. Local Language Film Success: IMAX's box office was heavily weighted toward local language content, especially in China where Chinese New Year releases exceeded expectations. Gelfond noted that the company achieved triple its previous record in China, and this segment accounted for 68% of global box office in the quarter. Hollywood Slate Visibility: Management stressed visibility into an extended pipeline of Hollywood blockbusters, many filmed with IMAX cameras. Advanced scheduling allows IMAX to secure preferred release windows and maintain a steady flow of high-profile content. Network Expansion: CFO Natasha Fernandes highlighted strong exhibitor demand, with 101 new and upgraded system agreements signed year to date—nearly matching all of last year's total signings. The company's backlog now stands at 516 systems, positioning IMAX for future growth. Marketing Evolution: IMAX shifted its marketing approach, investing more in social media and partnerships, particularly in Asia. This digital focus reduced costs and increased reach, which contributed to margin improvements. Operational Efficiency: The company continues to streamline operations by centralizing functions and eliminating redundancies, helping to boost margins and support scalable growth as global installations accelerate. Management's outlook for the remainder of the year centers on a diverse content slate, further expansion of the IMAX network, and sustained operating margin improvements, while monitoring external risks in key international markets. Content Pipeline Depth: The company expects both Hollywood and local-language releases to drive attendance, with upcoming titles like Avatar: Fire and Ash and Demon Slayer: Infinity Castle cited as high-impact opportunities. International Market Penetration: Ongoing growth in Asia, the Middle East, and Europe remains a strategic focus, supported by new signings in high-performing markets and increased exhibitor investment. Operating Leverage and Cost Controls: Management believes continued operational streamlining and automation, particularly in digital remastering (DMR), will enable margin expansion even as the business scales globally. Eric Wold (Texas Capital Securities): Asked about the risk of reduced Hollywood film imports to China and the impact on IMAX's slate; Gelfond responded that major blockbusters remain unaffected and demand from Chinese partners is increasing. Chad Beynon (Macquarie): Questioned whether recent outperformance in China was concentrated in certain city tiers; Gelfond stated that strength was uniform across markets and attributed part of the success to targeted social media marketing. David Karnovsky (JPMorgan): Inquired about the effect of shorter theatrical windows and higher system installs on guidance; Fernandes clarified that installation timing was driven by exhibitor readiness and that content margin gains reflected box office mix and digital marketing. Omar Mejias Santiago (Wells Fargo): Asked if a potential Chinese economic slowdown could pressure attendance; Gelfond noted that Q1 was a slow period economically in China, yet IMAX set records, arguing moviegoing remains an affordable luxury. Steven Frankel (Rosenblatt Securities): Asked about the impact of increased DMR workload on margins; Gelfond explained that automation and outsourcing have reduced costs, and margins have improved as a result. The StockStory team will be watching (1) the box office performance of high-profile Hollywood and local-language releases in both established and emerging markets, (2) the pace and diversity of new system installations across regions such as Asia, Europe, and the Middle East, and (3) evidence of further margin improvement from operational efficiency and digital marketing initiatives. Execution on these fronts will be crucial to sustaining IMAX's growth trajectory. IMAX currently trades at a forward P/E ratio of 19.1×. At this valuation, is it a buy or sell post earnings? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Sterling Infrastructure (+1,096% five-year return). Find your next big winner with StockStory today.
Yahoo
23-04-2025
- Business
- Yahoo
Imax CEO Downplays Hollywood's China Risk Amid Trade War — 'Will Largely Target Films With Limited Box Office Potential'
Imax CEO Rich Gelfond urged calm amid 'noise around tariffs, China, and speculation about the potential impact on the Hollywood slate.' Imax has a division in China and heft exposure there. In opening remarks on a call after first quarter earnings, Gelfond said 'the fundamentals of our business have never been stronger' but 'that fact has been obscured' in recent weeks, since China said it would 'moderately' limit the number of Hollywood films it accepts in retaliation for mind-boggling tariffs the Trump administration has imposed on Chinese imports to the U.S. More from Deadline Imax Sees Record Q1 Global Box Office Led By China Phenom 'Ne Zha 2' Media & Tech Stocks Extend Rally As Trump Softens Stance On China Tariffs, Fed Chief White House Correspondents' Weekend: In Trump 2.0, The Parties Continue, But The Dinner Will Be Very Different 'We' worked deeply at this issue. We talked to every studio and our industry partners throughout China, cultivated across our 30 years of doing business in the country. and we're highly confident that the, quote, moderate reduction in Hollywood imports announced by China Film Administration will largely target films with limited box office potential in the market, a smaller budget kind of fare, not the kind of films that drive Imax's business. So we're not letting the noise distract us from the opportunity ahead.' The company posted its best Q1 global box office ever. Thunderbolts from Marvel Studios opens April 30 in China. 'That's been approved,' he said. Disney's Lilo & Stitch 'has just been dated in China … We've talked to Hollywood studios and they expect their films to get in. Our contacts in China have told us that any reductions, if there are any, would be less financially' impactful than the usual Imax fare, he reiterated during a Q&A. 'I don't think the moderate film reduction will have a material effect on Imax.' Tariffs on Chinese goods, now at 145%, have been squeezing supply chains for U.S. companies and killing the stock market. Shares rallied today as Trump appeared to take a softer stance, then retreated from highs after Treasury Secretary Scott Bessent said that as of yet there's been 'no unilateral offer from the president to deescalate' that trade war. Gelfond doesn't anticipate any blowback from Chinese consumers who consider Imax an American brand, he said in response to a question. 'We have 800 theaters. It's like a local prestige brand … and it is a Canadian company for those of you who don't know that.' Best of Deadline 'Wednesday' Season 2: Everything We Know About The Cast, Premiere Date & More 2025-26 Awards Season Calendar: Dates For Tonys, Emmys, Oscars & More 'The Last Of Us': Differences Between HBO Series & Video Game Across Seasons 1 And 2
NBC News
21-02-2025
- Business
- NBC News
IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company's history
An 'embarrassment of riches' at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday. That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters. 'I think it's going to be a very strong year,' Gelfond said in an interview with CNBC's 'Squawk on the Street.' 'The first thing that drives that is the slate.' Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new 'Mission Impossible,' a live-action 'How to Train Your Dragon' film, another 'Jurassic Park' installment, a sequel to 'Zootopia' and a third 'Avatar' release. Hollywood production issues led to fewer theatrical releases and smaller ticket sales in 2024, with box office receipts down 3.4% from 2023 to $8.74 billion. Already, the 2025 slate appears more robust, with more titles and bigger franchise films. Aiding IMAX's lofty box office goals is the Chinese title 'Ne Zha 2,' which has already garnered $1.6 billion globally. It is the first film to have topped $1 billion in a single country. Gelfond noted that IMAX accounted for $135 million of the film's total box office. 'We've done more box office in China in the first six weeks of this year than we did the whole year last year,' he said. He added that 'Ne Zha 2' is doing 'like $100 million a day,' and that IMAX has accounted for around 13% of the film's box office receipts.
