Christopher Nolan’s ‘Oppenheimer’ Helps Lift Imax Quarterly Earnings
variety.comBrent Lang Executive Editor Christopher Nolan deserves a really nice fruit basket. The director’s latest blockbuster, “Oppenheimer,” was shot with Imax cameras, something that Nolan talked up during the film’s press tour last summer.
That advocacy contributed to $180 million in global ticket sales for Imax venues, lifting the big screen company’s latest earnings results.
Overall, Imax’s revenues jumped 51% during the most recent quarter to $103.9 million. Gross margins increased 98% to $62.7 million, while adjusted earnings per share increased to 35 cents.
That beat Wall Street’s projections. “Imax financial results for the third quarter are spectacular by any measure — versus budget, versus our historical performance and in the context of a highly dynamic business environment for media and entertainment,” said Richard Gelfond, CEO of Imax. “We are programming by far the strongest and most diverse content portfolio in our history — Hollywood blockbusters, local language films, marquee theatrical releases by streamers, concert films, docs, live events — and we couldn’t be more pleased with the results across our global network.” As Gelfond notes, it wasn’t just Nolan.
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