IMAX: First Quarter Lacks Big News
May 8th, 2014
IMAX announced their first quarter 2014 financial numbers, but there wasn't a lot to get excited about. The first quarter is almost always the slowest, unless there's a monster hit released in late December that lasts in theaters for several months. As a result, there's not much to say this time around. Total box office for the first quarter was $138.5 million, which was higher than first quarter of 2013, but by less than $10 million. Interestingly, two-thirds came from international markets. IMAX has been focusing on expanding its international market penetration recently and it is paying off. In fact, IMAX signed contracts for 36 new theaters during the first quarter, 23 of which were in Europe. There are now 840 IMAX systems around the world, including 707 commercial sites.