Imax chief executive Rich Gelfond said blockbuster titles will probably be back on Imax screens later this year, as per 'Top Gun: Maverick' last year and, more recently, 'Titanic's 25th anniversary re-release
sequel , released in mid-December, took a best picture nomination, and noms for production design, sound and visual effects. It’s the biggest first-run film ever for Imax.
The company earlier today reported softer fourth quarter 2022 revenue and profit. Gelfond cited a weak Chinese market that only started to recover quite late in the year but has done a complete 180-degree turn since then. As Covid raged, “Six weeks ago people were locked in their homes with drones flying over their heads and boxes of chicken thrown at their doors, ” he said, “How fast they’ve come to a record Chinese New Year” for Imax.
“I think we’re encouraged, but also want to be a little bit measured about changes in the world in another six weeks,” he said. Covid is still with us. And U.S.-China relations, which no one on the call asked about and Gelfond didn’t address directly, are strained.
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