Fri, Dec. 2, 2:49 PM
- Theater stocks spiral lower amid increased focus on a shorter window before movies are available at home.
- A top exec at Warner Bros. (TWX -0.6%) said at an investor conference earlier this week that he has held constructive talks within the industry about offering faster home rentals on top movies at a premium price ($25 to $50). Kevin Tsujihara says some films could be available for streaming as soon as two weeks after their big screen debut.
- On watch: Cinemark (CNK -3.6%), Regal Entertainment (RGC -2.5%), Carmike Cinemas (CNK -3.6%), Marcus Corp (MCS -0.5%), AMC Entertainment (AMC -3.6%) and IMAX (IMAX).
- The development could be positive for Netflix (NFLX +2.3%).
Mon, Nov. 28, 4:01 PM
- IMAX (NYSE:IMAX) ended the day down over 7% due to concerns on global box office revenue.
- MKM Partners says IMAX's quarter-to-date global box office revenue is about $131M, a slower pace than what is needed to hit the firm's estimate of $284M for the full three-monthe period.
- MKM still has IMAX rated at Buy with a price target of $40 (+24% upside).
Thu, Oct. 20, 11:58 AM
- IMAX (IMAX +5.2%) trades higher after reporting Q3 results.
- The company's domestic per-screen sales average improved 8% Y/Y to $174.2K during the quarter. The global per-screen average fell to $184.7K. from $220.5K a year ago.
- A dynamic cinema ticketing setup in China cut into revenue from the region and impacted overall results for IMAX. During the earnings call, IMAX management indicated that Hollywood blockbusters in 2017 will help to improve pricing in China.
- "We remain bullish on a long-term outlook for China," said IMAX Entertainment CEO Greg Foster.
Thu, Oct. 20, 7:58 AM
Wed, Oct. 19, 5:30 PM
Mon, Oct. 10, 7:52 AM
- The U.S. box office is up 3.8% Y/Y to $8.7781B through October 9, according to the latest tabulation from Box Office Mojo.
- The sector received a boost in the third quarter from the strong runs of The Secret Life of Pets and Suicide Squad.
- A higher average ticket price this year helped to offset some traffic slips.
- Movie theaters face a tough comparison in Q4 after Star Wars: The Force Awakens brought in $652M during the period last year.
- Related stocks: CKEC, AMC, CNK, IMAX, RDI, MCS, NCMI.
Tue, Sep. 27, 8:08 AM
- IMAX Corporation (NYSE:IMAX) signs a new multi-picture agreement with Fox. The deal covers future tentpoles from the studio for the IMAX format and includes Maze Runner: The Death Cure, Predator, Alita: Battle Angel and an untitled Marvel film.
- "With this agreement, we look forward to expanding our partnership with Fox and together offer fans around the world IMAX's one-of-a-kind movie-going experience," says IMAX CEO Greg Foster.
- Source: Press Release
Thu, Sep. 22, 3:23 PM
- IMAX (IMAX -0.5%) presented today at the Goldman Sachs Communicopia Conference in New York City.
- Execs said the company is looking aggressively at M&A opportunities and is developing a commercial laser system for small markets, according to a report from Bloomberg.
- Shares of IMAX have spent the last two week below the $30 level.
Thu, Sep. 15, 4:56 PM
- IMAX (NYSE:IMAX) talked virtual reality at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference today.
- The company said its virtual reality stations will be seen at select locations by the end of the year.
- IMAX Entertainment CEO Greg Foster also noted that the company is investing a significant amount of time working on the VR concept which includes bundled ticketing for a movie and VR experience.
- "VR will play at multiplexes and storefronts in an arcade kind of way," Foster added.
- Shares of IMAX closed up 3.17% on the day as they continue to fight to recapture the $30 level for the first time since September 8.
- IMAX webcast presentation
Thu, Sep. 1, 7:16 PM
- Imax Entertainment, the unit of parent Imax (NYSE:IMAX), has signed CEO Greg Foster for another three years.
- Foster's contract expired two months ago. The new pact means a base salary of $1M (with $50,000 raises for each of the next two years) along with eligibility for a 100% bonus, and restricted share units valued at $1.6M and stock options valued at $1M (both of which also escalate).
- He's been with the company for 15 years.
Mon, Aug. 29, 11:42 AM
- The U.S. box office is up 5.5% to $7.9328B after the first eight months of the year, according to tallying from Box Office Mojo.
- Higher ticket prices account for some of the gain.
- Despite a solid summer in terms of movie theater attendance, studios may have left something on the table as they suffered from "sequelitis virus," according to an insider look from The Hollywood Reporter.
- SA contributor L&F Capital Management pointed out last week that Disney's box office dominance (Finding Dory, Captain America: Civil War, The Jungle Book) this year bodes well for Netflix (NFLX +0.7%) which has exclusive streaming rights for the movies geared at children.
- Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
Tue, Aug. 2, 8:06 AM
- IMAX (NYSE:IMAX) and IMAX China Holding (OTC:IMXCF) announce the addition of another 150 additional theaters through a new deal with Wanda Cinema Line Corp.
- The theaters will be built throughout China over six years, starting next year, with 110 of these theaters scheduled to be installed by 2020.
- IMAX and Wanda Cinema have a partnership that dates to 2007. The exhibition subsidiary of Dalian Wanda Group currently operates more than 160 IMAX theatres and is Asia's largest cinema owner.
- With this agreement, IMAX China's total backlog will increase nearly 60 percent.
- As of June 30, IMAX's theater network in China totaled 335 theaters, up from 250 at the same point in 2015.
- Source: Press Release
Thu, Jul. 21, 12:13 PM
- IMAX (NYSE:IMAX) is up 14.5% to jump back over $34 for the first time since early January.
- Volume on IMAX is already 3X normal daily activity only halfway through the trading day.
- Investors are pushing away concerns over the Q2 Y/Y drop in revenue to focus on growth potential. A new buy rating on IMAX from Credit Suisse is also helping to lift sentiment.
- IMAX China (OTC:IMXCF) rallied 4% in Hong Kong trading earlier today.
- Previously: IMAX higher after tipping strong demand (July 20)
Wed, Jul. 20, 4:22 PM
- IMAX (NYSE:IMAX) reports a global box office decline of 24% to $260.8M in Q2 against a tough comparable from a year ago when several blockbusters debuted.
- The company's gross margin rate fell 960 bps to 54.8% off the sales deleverage.
- IMAX disclosed 95 theater signings and ended the quarter with a backlog of 442 systems.
- "Demand for IMAX theatres has never been stronger and bodes well for our business as more signings lead to more installs, which then lead to more box office, and, ultimately, to greater revenue," said CEO Richard Gelfond.
- Previously: IMAX beats by $0.07, beats on revenue
- IMAX +1.33% AH to $30.52.
Wed, Jul. 20, 4:15 PM
Tue, Jul. 19, 5:35 PM