Core Insights - Imax and Wanda Film have announced a significant expansion of their strategic partnership in China, focusing on technology and content enhancement [1][2] - The agreement includes upgrading 61 top-performing Wanda locations to Imax with Laser technology and renewing up to 37 existing Imax locations over five years, with the potential for 25 new locations in the next three years [1][3] - Imax aims to enhance the cinematic experience by collaborating with Wanda Pictures on various content types, including documentaries, music, gaming, and sports [1][2] Company Developments - Wanda Film is committed to improving moviegoers' experiences by adopting premium projection technology, reinforcing its position as a leader in the Chinese film exhibition market [2] - Imax's CEO highlighted the importance of this partnership in solidifying Imax's dominance in China's largest exhibition circuit, especially with a strong lineup of films expected in the coming years [2] - The partnership is expected to open new collaboration opportunities between Wanda Film and Imax, particularly in blockbuster films and various entertainment events [2][3] Market Outlook - Imax is preparing for a robust summer film slate in 2024, featuring both Chinese and Hollywood films, with a strong content pipeline anticipated for 2025 and 2026 [2] - The 2025 global film slate will include a record 14 films shot for Imax, including a major Chinese release during the Chinese New Year holiday [3] - Wanda Film operates 381 Imax locations globally, making it Imax's largest exhibition partner [3]

Wanda Film to Upgrade 61 Top-Performing Locations to IMAX® with Laser and Collaborate with IMAX on New Events and ExperiencesSHANGHAI, June 18, 2024 /PRNewswire/ -- Wanda Film, China's largest exhibitor, and IMAX Corporation (NYSE: IMAX), IMAX China (HKSE: 1970) today announced plans to expand their longstanding strategic partnership with a sweeping agreement spanning technology and content.The agreement will secure and fortify Wanda Film's leading IMAX footprint — the largest IMAX circuit in China. Under t ...

Core Viewpoint - The Zacks Film and Television Production and Distribution industry is experiencing increased demand for digital entertainment due to operational constraints in traditional venues, benefiting companies like Warner Music Group, News Corp., Lions Gate Entertainment, and IMAX Corp. [1] Industry Overview - The industry includes companies involved in the creation, distribution, and exhibition of film and television content, with a focus on producing entertainment for various platforms [2] - IMAX specializes in advanced motion picture technologies and immersive experiences, while the financial performance of industry players is heavily reliant on global box office success and viewership ratings [2] Industry Trends - Over-the-Top (OTT) services are gaining prominence as content creators distribute through these platforms to leverage franchise popularity, although this may challenge traditional distribution strategies [3] - Binge-watching and advancements in technology have led to increased content consumption on smaller screens, prompting industry players to pivot towards digital distribution [3] - The rise of digital capabilities allows production companies to utilize AI tools for audience insights, although competition from streaming services is increasing content and marketing expenditures, impacting profitability [4] Industry Performance - The Zacks Film and Television Production and Distribution industry ranks 66, placing it in the top 27% of over 246 Zacks industries, indicating positive near-term prospects [5][6] - The industry has outperformed the S&P 500 and the Consumer Discretionary sector, with a collective stock rally of 36.2% compared to the S&P 500's 23.2% and the sector's 4.2% over the past year [7] Current Valuation - The industry is currently trading at a trailing 12-month price-to-sales (P/S) ratio of 2.05X, compared to the S&P 500's 4.1X and the sector's 1.87X, with historical trading ranges between 0.92X and 2.49X [8] Company Highlights - **Lionsgate Holdings**: This company is benefiting from strong performance in its Motion Picture and Media Networks segments, with a focus on profitability and a robust content pipeline [9][10] - **Warner Music Group**: The company is experiencing growth in Recorded Music licensing and Music Publishing revenues, with strategic investments in media platforms and partnerships enhancing its market reach [10][11][12] - **IMAX**: The company anticipates growth driven by upcoming releases and partnerships with multiplex chains, alongside a recovery in theater system installations [13][14] - **News Corporation**: The company is diversifying its revenue streams through digital transformation and strategic acquisitions, with a focus on enhancing its information services offerings [14][15]

Core Insights - iQIYI, Inc. Sponsored ADR (IQ) is currently viewed as a better value opportunity compared to Imax (IMAX) based on Zacks Rank and valuation metrics [1][3] Valuation Metrics - iQIYI has a forward P/E ratio of 10.18, significantly lower than Imax's forward P/E of 18.20, indicating that iQIYI may be undervalued [2] - The PEG ratio for iQIYI is 0.28, while Imax has a PEG ratio of 0.91, suggesting that iQIYI offers better value relative to its expected earnings growth [2] - iQIYI's P/B ratio stands at 2.49, compared to Imax's P/B of 2.60, further supporting the notion that iQIYI is more attractively priced [2] Analyst Outlook - iQIYI holds a Zacks Rank of 2 (Buy), indicating a strong earnings estimate revision trend, while Imax has a Zacks Rank of 3 (Hold), reflecting a less favorable outlook [1][3] - The improving earnings outlook for iQIYI enhances its attractiveness as a value investment compared to Imax [3]

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Group 1: IMAX Expansion in France - IMAX Corporation has signed a deal with MEGARAMA to introduce three new IMAX with Laser systems in France, doubling its presence with the exhibitor [1] - One theater will open in a major northern French city in 2025, while two others will be in the suburbs of Paris, projected to open in 2026 [1] - The deal reflects strong demand for IMAX's premium movie experience in France, following a record 2023 with over $23 million in box office revenues [1] Group 2: IMAX Technology and Locations - The new MEGARAMA locations will feature IMAX with Laser, the company's most advanced projection and audio system [2] - With this agreement, IMAX and MEGARAMA will operate six locations in France, with an additional location planned in Morocco [2] Group 3: Global Expansion Strategy - IMAX is aggressively expanding globally, including a partnership with SM Cinema in the Philippines for 10 new IMAX with Laser systems [3] - Turkey will see its first IMAX with Laser systems through a four-theater deal with CineNOVA, set to open between 2024 and 2026 [4] - A three-theater agreement with Miraj Cinemas marks IMAX's largest expansion in India in five years, with openings planned in Mumbai, Jaipur, and another city [4] Group 4: Financial Outlook - The Zacks Consensus Estimate for IMAX's 2024 revenues is $376.06 million, indicating a year-over-year increase of 0.32% [4] - The consensus estimate for 2024 earnings per share is 91 cents, suggesting a year-over-year decline of 3.19% [4]

Core Insights - IMAX Corporation and SM Cinema have announced a significant expansion of their partnership, adding 10 new IMAX with Laser systems in the Philippines, which will more than double IMAX's footprint in the country [1][2] - The deal includes three new locations and seven upgrades to existing systems, with three upgraded locations expected to open in 2024 and the rest by the end of 2026 [1][3] - The Philippines has become one of IMAX's top-performing markets in Southeast Asia, ranking among the top 30 highest-grossing IMAX markets globally since 2022 [3] Company Overview - IMAX Corporation is an innovator in entertainment technology, operating 1,772 IMAX systems across 89 countries as of March 31, 2024 [4] - The company combines proprietary software, architecture, and equipment to create immersive movie experiences, making it a key player in theatrical distribution for major event films [4] Market Significance - The expansion in the Philippines highlights the country's growing importance in the global entertainment landscape, as noted by SM Supermalls President Steven T. Tan [2] - The partnership with SM Cinema, the largest exhibitor in the Philippines, is seen as a vital component of IMAX's strategy to enhance its global network and business momentum [2][3]

IMAX Corporation (IMAX) reported first-quarter 2024 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate by a whopping 50% but declined 6.3% from the year-ago quarter.Total revenues of $79.12 million beat the Zacks Consensus Estimate by 1.6% but decreased 9% year over year. Greater China accounted for 27.1% of revenues. The metric declined 19.2% year over year to $21.4 million.Category-wise, technology sales and technology rentals were down 55.7% and 7.3% year over year to $7.9 m ...

IMAX Corporation (NYSE:IMAX) Q1 2024 Results Conference Call April 25, 2024 8:30 AM ET Company Participants Jennifer Horsley - Senior Vice President-Investor Relations Rich Gelfond - Chief Executive Officer Natasha Fernandes - Chief Financial Officer Rob Lister - Chief Legal Officer & Senior Executive Vice President Conference Call Participants Eric Wold - B. Riley Securities Omar Mejias - Wells Fargo Eric Handler - ROTH MRM Chad Beynon - Macquarie Stephen Laszczyk - Goldman Sachs Mike Hickey - The Benchmar ...

Imax (IMAX) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this entertainment technology company would post earnings of $0.10 per share when it actually produced earnings of $0.17, delivering a surprise of 70%.Over the last four quarters, the ...