What They Say
In an interview with Bloomberg, the CEO of IMax said that it expects a strong rebound after the pandemic in Japan and plans to almost triple (from 39 now to 100) its theatres in the country by 2024. The firm has done a deal with Toho Co for five of the studio’s films, the first deal for IMax outside Hollywood.
Japan is the second larges market for Imax this year, after China, with the highest revenue per screen ($1.2 million) during Covid-19.
Imax reported a $144 million loss last year. The average estimate from analysts is for a narrowing of losses to $18 million in the three months through March.
Imax’s expansion plans have been bolstered by record-breaking Japanese movies, including “Demon Slayer: Kimetsu no Yaiba,” which is backed by Sony Corp. and Toho and became the country’s highest grossing movie ever, as well as the world’s fourth-biggest title last year.
What We Think
The expansion should be good news for Barco (New Agreement Between IMAX and Barco to Further Collaborate on Cutting-Edge Laser Light Source Technology Worldwide) (BR)
