The global entertainment technology platform IMAX posts strong year-on-year growth in Q2 2023 across all key metrics, including revenue (+32%), gross margin (+31%) and adjusted EBITDA (+29%).
These numbers go to show the value of its unique global entertainment technology platform and content portfolio.
Richard L. Gelfond, CEO of IMAX, comments that the brand “continues to be a winner in a dynamic global market for entertainment, as evidenced by our strong second-quarter results. We have once again proven that IMAX can deliver results in virtually any business environment thanks to our global scale, limited asset model, and diversified revenue mix through technology licensing and global box office in Hollywood and local languages.”
“It is becoming increasingly clear that the future of the movie business is IMAX, as moviegoers show a growing preference for the Premium IMAX experienceour market share remains strong and our network and content portfolio are expanding in the most promising international growth markets for world cinema,” he adds.
Las contracts for IMAX systems amount to 84 year-to-date, significantly higher than the company’s in all of 2022 (47), with system installations rising to 29 through June.
It is also worth noting a strong participation of IMAX in the world box office during the summer blockbuster season, highlighted by a record 20% turnover with the IMAX debut of Oppenheimerof 35 million dollars.
“This past weekend demonstrates the paradigm shift taking place in cinema, as IMAX drove a strong double-digit market share with a trio of Hollywood and local releases – led by the impressive performance of Oppenheimerelevating the company to one of its all-time best weekends at the global box office.”
“We remain confident that we will continue to drive growth in 2023 through global box office, systems firms, facilities and adjusted EBITDA. And the accelerated pace of system hires and installations we are seeing globally this year is a very positive indicator of long-term growth for our business,” concludes Gelfond.
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2023-07-28 09:47:55
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