Nolan's Odyssey Smashes IMAX Records with $52M Global Debut
IMAX sits 67% above its 52-week low of $24.2.
Summary
IMAX just posted its biggest global opening weekend ever (ex-China/Japan/Korea) with Christopher Nolan's The Odyssey, pulling in $52 million — 20% of the film's total debut. That's 16% above the previous record and includes $6.3 million from just 41 IMAX 70mm film locations, averaging $153,000 per screen. The film has at least three more weeks of exclusive IMAX play and will expand into South Korea, China, and Japan later this summer, setting up a long tail. This follows a soft Q3 slate concern flagged by Wells Fargo earlier today, but the sheer scale of this opening — and the fact that pre-sales alone hit $50 million — directly challenges that bearish view. With a $2.15 billion market cap, a single film delivering this kind of weekend materially moves the needle on quarterly box office revenue.
At the time of this announcement, IMAX was trading at $40.43 on NYSE in the Trade & Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $24.20 to $45.52. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.