Imax CEO Richard Gelfond, in the company’s Q1 2021 investor call, highlighted the continued success of the PLF format in key Asian markets—success that contributed to Imax having its first quarter of year-on-year increase in global box office since the beginning of the pandemic.
Though Imax’s Q1 revenue ($38.8 million) is down 11 percent from the year prior, the company’s global box office of $110 million marks an increase from the same period the prior year, during much of which Chinese cinemas remained closed while the Covid-19 pandemic had yet to meaningfully impact domestic exhibitors. Imax’s $110 million global box office over the first three months of the year was driven by the success of Godzilla vs Kong—which gave Imax its strongest domestic opening since the start of the pandemic—as well as the Chinese New Year and, in Japan, the release of Demon Slayer and Shin...