NEW YORK – July 08, 2013 – IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced that Greg Foster has been named CEO of IMAX Entertainment and Senior Executive Vice President, IMAX Corp., continuing to report directly to IMAX CEO Richard L. Gelfond. Prior to the appointment, Foster was Chairman and President of IMAX Entertainment. READ MORE »
Global Showbiz Briefs: IMAX In Israel, BSkyB Scores, FIFA Reviews World Cup In 3D, ‘Summer In February’ Lines Up International & More
IMAX president Richard Gelfond told the Israeli Presidential Conference today that the experience of going to the movies will always appeal despite the proliferation of mobile devices. “People are social animals and I don’t think they want to be chained to their couches, mobile devices and tablets. They want to go out,” Gelfond said, according to Reuters. “They recognize the fact that Steven Spielberg and James Cameron may be better at telling a story than a 16-year-old over the Internet. I think they can exist side by side.” Also on Thursday, IMAX and Germany’s largest exhibitor CineStar Cinemas said they would partner to put an IMAX theater at the CineStar Sony Centre in Berlin. The giant Potzdamer Platz multiplex hosts big film premiers and is familiar to Berlin Film Festival regulars. The new theater will eventually transition to IMAX’s next-generation laser digital projection system which boasts greater brightness and clarity, a wider color gamut and deeper blacks. IMAX EMEA president Andrew Cripps noted that Germany is an under-penetrated market for the company where it is looking to expand.
NEW YORK – May 28, 2013 — IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced the appointment of Eileen Campbell as Chief Marketing Officer, effective July 15. Campbell will lead the Company’s global marketing function.
“The IMAX brand is one of our most valuable assets and has become synonymous with the ultimate movie-going experience for audiences worldwide,” said IMAX CEO Richard L. Gelfond. “We believe Eileen’s impressive marketing and leadership credentials coupled with her analytic-based approach to brand-building will help us to strengthen and extend our brand value in support of our continued growth. I am delighted to welcome Eileen to IMAX and I look forward to her contributions.”
The main culprit appears to be a drop in joint revenue sharing deals as IMAX installed four new theaters under these arrangements in Q1 vs eight in the same period last year. All told, the company reported net income …
CULVER CITY, Calif., April 16, 2013 – STALINGRAD, the first Russian-made feature to be released in the immersive IMAX® 3D format, will be distributed in Russia by Sony Pictures Releasing International.
An epic love story set during one of the most devastating battles in modern history, STALINGRAD’s teaser trailer will be screened for the first time in the U.S. on April 17, 2013at Caesar’s Palace in Las Vegas, when Sony makes its annual presentation at CinemaCon. The announcement was made today by Rory Bruer, president of Worldwide Distribution for Sony Pictures Releasing, and Alexander Rodnyansky, head of A.R.Films and producer of STALINGRAD. The deal was negotiated by Paul Heth of Monumental Pictures.
The movie was shot completely on location in Russia; it is directed by Fedor Bondarchuk and produced by Alexander Rodnyansky and Sergey Melkumov for Non-Stop Production and Dmitry Rudovsky for Art Pictures. The film is written by Iliya Tilkin and Sergey Snezhkin. The release date in Russia will be announced shortly.
Here’s the formal announcement of the arrangement we reported yesterday:
HOLLYWOOD, Calif., April 12, 2013 – IMAX Corporation (NYSE: IMAX; TSX: IMX) and Chinese Theatres LLC today announced an agreement to add an IMAX® theatre to the iconic TCL Chinese Theatre in Hollywood, through an extensive transformation of the landmark site. The addition brings the theatre into the 21st Century and gives Hollywood its first IMAX® theatre, providing fans with a movie-going experience that will rival any in southern California. Once complete, this will be IMAX’s largest auditorium in the world in terms of seating capacity and its third-largest commercial theatre screen in North America. Closing of the agreement is subject to the issuance of final permits.
Sources tell me that a deal for IMAX to take over the iconic theater on Hollywood Boulevard is nearly complete, subject to permitting approval. The news comes just a few months after Chinese TV maker TCL paid …
The disparity in the CEO’s compensation vs last year appears to be due to a judgement call that resulted in no option awards, which came to $3.2M last year. In a year when IMAX shares were up 18.7%, …
LOS ANGELES, March 20, 2013 — IMAX Corporation (NYSE: IMAX; TSX: IMX) and The Walt Disney Studios, a division of The Walt Disney Company (NYSE: DIS), today announced an agreement to produce and distribute the latest IMAX® 3D cinematic space spectacle from acclaimed filmmaker Toni Myers, who has been crafting mind-blowing movie experiences for IMAX audiences for more than 40 years.
The large screen theater company set a high bar for itself this morning when it reported a 55.7% jump in the gross box office for its films in Q4. But CEO Rich Gelfond will try to beat that in 2013 by taking more control over the films IMAX theaters show. One initiative, unveiled this morning, will deploy digital projectors in about 30 of the company’s most popular theaters which currently use conventional film — including Regal’s IMAX theaters in Irvine, Cal.; Ontario, Cal.; and Orlando, Fla. The change is needed because film stock is “disappearing faster than we had anticipated” and the cost of processing it is rising. “With a digital projector we can show 25 films a year because each hard drive costs $150,” he tells me. “You can swap it in or out, no big deal. In a film theater each print costs $30,000. They’re big, bulky, and expensive.” But the digital projectors aren’t powerful enough to light some of the largest screens including theaters in New York’s Lincoln Square, Los Angeles’ Howard Hughes Center, and the Universal CityWalk. That’s one reason why the digital projectors are merely an “interim solution” until late 2014 when IMAX will roll out its more powerful laser projectors.
Shares are up more than 3.6% in pre-market trading after the provider of large-screen theater services released a surprisingly strong financial report for the last three months of 2012. IMAX says it generated net income of $12.9M, +105.9% vs the end of 2011, on revenues of $77.8M, +16.6%. The top-line number was comfortably ahead of the $74M analysts expected. And adjusted earnings at 23 cents a share handily beat the consensus forecast for 16 cents. Although the company didn’t break out results for individual films in the quarter, some analysts expected IMAX might surprise them after seeing the strong box office results for Sony and MGM’s James Bond film Skyfall, and Warner Bros’ The Hobbit: An Unexpected Journey. Gross box office revenues for IMAX titles came in at a record $152M, +55.7%, with an average box office per screen of $264,400, up from $221,600.
Ross Lincoln is a Deadline contributor.
The IMAX 3D version, featuring a full digital remastering, will coincide with the film’s wide release beginning internationally on March 28, 2013, with the North American release following the next day. The IMAX 3D version will run for a single week in select theaters.
G.I. Joe: Retaliation has a wild journey to theaters. Originally scheduled for a June 29, 2012 release, Paramount baffled industry observers in May when, after a costly ad campaign that included a Super Bowl trailer, it was learned that the film was being rescheduled. The official justification for the rescheduling was a 3D makeover intended to boost international ticket sales. However, the production has been dogged by persistent rumors that the real reason for the switch is costly reshoots to change the plot so that Duke, played by Channing Tatum, is not killed early in the film. Tatum of course enjoyed a huge 2012, with The Vow, 21 Jump Street and Magic Mike all strong hits.