Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Wakanda Animated Series from Marvel Studios Reportedly To Be in Production

    March 19, 2023

    Shazam! Fury of the Gods’ Poor Box Office Performance $30 Million Domestic Debut

    March 19, 2023

    Lance Reddick, Star of ‘The Wire’ and ‘John Wick,’ Died At Age of 60

    March 18, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    Cinemazzi
    Login
    • Home
    • Movie News
    • TV News
    • Reviews
    • Casting
    • Collection
    • More
      • TV-Show News
      • Cartoon
      • Trailers
    Cinemazzi
    Home»Movie News»‘Spider-Man: No Way Home’ Contributes To The Recovery Of Imax’s Profitability
    Movie News

    ‘Spider-Man: No Way Home’ Contributes To The Recovery Of Imax’s Profitability

    Since the outbreak of the pandemic, the premium theater studio has posted its biggest quarterly revenue and profit yet.
    PumBy PumFebruary 24, 2022Updated:February 24, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Imax on Wednesday claimed its biggest quarterly profits since 2019 when the COVID-19 epidemic forced cinemas across the globe to close their doors. Such an impressive achievement is thanks to the blockbuster box office juggernaut Spiderman: No Way Home and other smash hits like “Dune” and “No Time to Die.”

    The studio recorded $108.6 million in revenue, a strike of 94% year-over-year. Additionally, Imax reported an adjusted profit of 31 cents per share, up from a loss of 21 cents per share the previous year.

    In addition, global ticket sales increased by 15 percent in the most recent quarter, with “No Way Home,” “Dune,” and “No Time to Die” ranking as the top three most successful films of the year. In addition to the epic war movie “Battle at Lake Changjin,” which grossed more than $800 million in total in China, and the Marvel movie “Eternals.”

    As previously disclosed by the firm last month, total box office revenue for Imax increased to $638 million, breaking the record for the company in terms of its proportion of overall box office gross revenues. $277 million of the total came from the fourth quarter, surpassing the $244.46 million earned in the fourth quarter of 2019, which was the company’s highest-grossing quarter ever.

    As companies such as Warner Bros. place even more emphasis on big-budget blockbusters when planning their release slates, it is projected that Imax will continue to grab a bigger proportion of the theater market. There are a number of films that will be released on Imax in the coming months, including “The Batman,” “Morbius,” and “Doctor Strange and the Multiverse of Madness.” The business is also anticipating increasing income in China, where Marvel films such as “The Batman” and “Uncharted” will be released in the coming weeks after 2021 in which Marvel titles such as “Eternals” and “No Way Home” were refused release there.

    “IMAX has separated from the pack at the worldwide box office, and its strategic initiatives to expand the brand and grow its business,” CEO Rich Gelfond said during the company’s earnings call.

    Imax movie news Spider-Man: No Way Home
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Pum

    Related Posts

    Shazam! Fury of the Gods’ Poor Box Office Performance $30 Million Domestic Debut

    March 19, 2023

    Lance Reddick, Star of ‘The Wire’ and ‘John Wick,’ Died At Age of 60

    March 18, 2023

    ‘Shazam! Fury of the Gods’ Reportedly Has Surprisingly Low Budget

    March 18, 2023

    Leave A Reply Cancel Reply

    Our Picks
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    Top Story

    Wakanda Animated Series from Marvel Studios Reportedly To Be in Production

    By HarryMarch 19, 20230

    Evidently, Wakanda is becoming animated. Fans of the Marvel Cinematic Universe have been wondering what…

    Shazam! Fury of the Gods’ Poor Box Office Performance $30 Million Domestic Debut

    March 19, 2023

    Lance Reddick, Star of ‘The Wire’ and ‘John Wick,’ Died At Age of 60

    March 18, 2023

    ‘Shazam! Fury of the Gods’ Reportedly Has Surprisingly Low Budget

    March 18, 2023
    About Us

    Cinemazzi is a movie news site, providing the latest news about movies, TV Series and TV Shows,... Up-to-the-minute celebrity news, behind-the-scenes and upcoming movies news will be updated the fastest on Cinemazzi.

    Our Picks

    Wakanda Animated Series from Marvel Studios Reportedly To Be in Production

    March 19, 2023

    Shazam! Fury of the Gods’ Poor Box Office Performance $30 Million Domestic Debut

    March 19, 2023

    Lance Reddick, Star of ‘The Wire’ and ‘John Wick,’ Died At Age of 60

    March 18, 2023
    New Comments
    • Digital Book Shelf on Netflix’s ‘Glass Onion: A Knives Out Mystery’ Releases New Trailer Teasing The Next Benoit Blanc Case
    Facebook Twitter Instagram Pinterest
    • Home
    • Movie News
    • TV News
    • Reviews
    • Casting
    • More
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?