Imax’s earnings soar with Deadpool and Wolverine, but Oppenheimer’s legacy looms large

Deadpool and Wolverine invigorate Imax earnings

The irreverent and R-rated Marvel mash-up, Deadpool & Wolverine, has proven to be a formidable hit for Imax. This unusual pairing of the Merc with a Mouth and the adamantium-clawed X-Man pushed the company’s quarterly earnings upward. The film garnered a substantial $83 million globally, ranking as the fifth-best performance for a Marvel installment on the Imax platform. However, despite this success, it couldn’t quite match the towering achievement of last year’s blockbuster, Oppenheimer.

Financial performance and comparison

Imax’s overall revenues for the recent quarter hit $91.5 million, showcasing a noticeable decline of 12% compared to the $103.9 million recorded in the same period the previous year. During that time, Oppenheimer, filmed with Imax cameras, stood out as one of the largest successes in the company’s history. This dip in revenue highlights a challenging comparison to an exceptionally high benchmark set by Christopher Nolan’s epic.

Despite the drop in revenues, Imax reported a net income of $13.9 million for the quarter ending in September, marking a 16% improvement from the $12 million of the previous year. However, earnings per share remained steady at 38 cents, and the company’s adjusted EBITDA saw a decline of 23%, down to $38.7 million from the previous $50.5 million.

Broader box office trends and system installations

Globally, Imax’s box office grosses reached $239 million, down from the $347 million witnessed in the same quarter of 2023. This reflects a significant 31% decrease, pointing to broader market pressures and the competitive landscape in the cinema industry.

In an encouraging development, Imax has successfully cemented agreements to install 119 new systems worldwide year-to-date. These installations span significant markets such as France, Australia, and Saudi Arabia, indicating Imax’s continued expansion and adaptability in a fluctuating cinematic ecosystem.

Recent and upcoming releases on Imax

In addition to the success of Deadpool & Wolverine, other notable movies graced Imax screens this quarter, including Beetlejuice Beetlejuice, Alien: Romulus, and Transformers One. These releases contributed to diversifying the content and attracting varied audiences to Imax theaters.

Looking ahead, the remainder of the year promises an intriguing lineup with titles such as Wicked, Gladiator II, and Mufasa: The Lion King. Each of these films is expected to leverage the immersive Imax format to deliver unparalleled cinematic experiences.

Future forecasts and exciting prospects

Imax CEO Richard Gelfond shared an optimistic outlook for the future, predicting that 2025 will potentially be the company’s “best year ever at the global box office.” This confidence is backed by the anticipation of highly awaited sequels to major franchises like Mission: Impossible and Avatar, which are expected to further elevate Imax’s performance. The forecasts suggest a possible revenue of $1.2 billion worldwide.

Adding to this excitement is the return of the acclaimed director Christopher Nolan, who is slated to release a new, top-secret film featuring Tom Holland and Matt Damon in 2026. Gelfond revealed that Nolan will utilize new Imax technology in the production, incorporating state-of-the-art equipment that has been under development over the past year. This innovation promises to bring a unique, unprecedented visual feast to audiences.

With such developments on the horizon, the future for Imax looks packed with potential and technological advancements set to redefine the cinematic experience.

Engage with us and stay tuned for more updates on these and other exciting developments in the world of cinema!