DEF: IMAX Aims for Record-Breaking Year After Strong 2024 Performance

IMAX anticipates its best year ever at the global box office in 2025, driven by a robust film slate and continued network expansion.

Summary

• IMAX improved its standing as a premier global platform for awe-inspiring experiences in 2024.
• The company advanced key strategic priorities, including strengthening filmmaker and studio relationships, expanding its global network, and diversifying its content portfolio.
• Chinese New Year releases have already delivered more than $182 million in IMAX box office, tripling the previous record.
• Ne Zha 2 earned more than $164 million in IMAX, becoming the highest-grossing animated release of all time and the only movie to ever gross more than $1 billion in a single market, doubling that mark with more than $2 billion to date.
• IMAX installed 146 new and upgraded systems worldwide and completed agreements for another 130 systems in 2024.
• The company expects to achieve or eclipse these strong levels of network growth in 2025.
• The 2026 slate looks perhaps even stronger than this year, with Christopher Nolans The Odyssey, Avengers: Doomsday, The Mandalorian and Grogu, Toy Story 5, and Greta Gerwigs Narnia.
• Shareholders are invited to attend the 2025 Annual General Meeting of Shareholders on June 11, 2025, via live audio webcast.

Sentiment

Score: 8

Explanation: The document expresses a positive outlook for IMAX, highlighting strong performance in 2024 and anticipating a record-breaking year in 2025. The company is also expanding its network and diversifying its content portfolio, indicating a strong growth trajectory.

Positives

• IMAX improved its standing as a premier global platform for awe-inspiring experiences in 2024.
• The company advanced key strategic priorities, including strengthening filmmaker and studio relationships, expanding its global network, and diversifying its content portfolio.
• IMAX installed 146 new and upgraded systems worldwide and completed agreements for another 130 systems in 2024.
• The company expects to achieve or eclipse these strong levels of network growth in 2025.
• The 2026 slate looks perhaps even stronger than this year, with Christopher Nolans The Odyssey, Avengers: Doomsday, The Mandalorian and Grogu, Toy Story 5, and Greta Gerwigs Narnia.

Risks

• The Proxy Circular and Proxy Statement contains forward-looking statements, and actual results could differ materially.
• Risk factors that could cause actual results to differ are set forth in the Risk Factors section of, and elsewhere in, our annual report for the fiscal year ended December 31, 2024 on Form 10-K and other filings with the United States Securities and Exchange Commission.

Future Outlook

IMAX expects 2025 to be its best year ever at the global box office, driven by a strong film slate and continued network expansion. The 2026 slate looks perhaps even stronger than this year.

Management Comments

• In 2024, IMAX improved its standing as a premier global platform for awe-inspiring experiences.
• Even as the entertainment industry recovered from labor strikes that temporarily halted Hollywood production, we advanced key strategic priorities strengthening our filmmaker and studio relationships, expanding our global network, and further diversifying our content portfolio.
• Notably, the market has recognized our progress and yet, the bigger opportunity is still ahead, given the remarkable film slate scheduled for release over the next several years and our continued global network growth.
• We expect 2025 to be our best year ever at the global box office.
• Thanks to our leadership at the global box office, we are driving consistent network growth installing 146 new and upgraded IMAX systems worldwide and completing agreements for another 130 systems in 2024.
• With a focus on markets where were generating high per screen average box office, we expect to achieve or eclipse these strong levels of network growth in 2025.
• In many ways, were just getting started.
• The 2026 slate looks perhaps even stronger than this year.

Industry Context

IMAX is positioning itself as a key player in the entertainment industry, leveraging its technology and relationships to secure major film releases and expand its network globally. The company is also diversifying its content portfolio to include live events and gaming.

Comparison to Industry Standards

• The document does not provide specific comparisons to industry standards in terms of financial metrics or operational performance.
• However, it highlights IMAX's leadership in the global box office and its success in securing major film releases, suggesting a strong competitive position within the industry.
• The document mentions a partnership with Chinas Wanda, as it transitioned to new ownership our biggest system agreement in five years.

Stakeholder Impact

• Shareholders are expected to benefit from the company's strong performance and growth prospects.
• Filmmakers and studios are expected to benefit from IMAX's continued investment in its technology and network.
• Audiences are expected to benefit from the company's commitment to delivering awe-inspiring experiences.

Next Steps

• Shareholders are encouraged to vote on the proposals outlined in the Proxy Circular and Proxy Statement.
• Shareholders are invited to attend the 2025 Annual General Meeting of Shareholders on June 11, 2025, via live audio webcast.

Key Dates

Keywords

IMAX, box office, network growth, film, shareholders, directors, executive compensation, proxy statement