Imax Hopeful for 2nd Half Rebound on Vaccinations, Movie Pipeline
Imax Q4 revenue was $56 million for the quarter ended Dec. 31, down 55% from the 2019 quarter, said the company Thursday. It installed 33 systems and signed 11 agreements in the quarter, ending the year with 527 systems in…
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backlog. CEO Richard Gelfond said the company is “encouraged to see that audiences are eager to return to the movies where the virus is under control, and they feel safe." For 2021, he cited strong demand in Imax theaters in Asia, a "promising pipeline" of Hollywood movies and the accelerating pace of COVID-19 vaccinations in North America: “We remain confident and optimistic that the global film industry is poised for a strong and sustainable recovery in the second half of 2021."