Strong Rerelease of 'Avatar' in China Shows Imax Closer to Rebound: Colliers
Imax grossed $6.2 million from an Avatar rerelease in China last weekend, generating 30% of the film’s receipts despite playing on 1% of the screens, said the company Sunday. Imax credited “pent-up demand for theatrical blockbusters that awaits cinemas around…
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the world as they reopen” from lockdowns ordered during the COVID-19 pandemic. Colliers analyst Steven Frankel expects a “rebound in the fundamentals” this year for Imax due to its strong ties to influential filmmakers and a “vast global network,” he wrote investors Monday. There are near-term challenges and an “uncertain path” to a return to normal behavior, but “at some point Imax is positioned to benefit from pent-up demand and a slew of high-profile releases,” said Frankel. With limited theater reopenings in New York and San Francisco, “we are getting closer to the turn.”