Imax Well-Positioned Despite More Movie Release Delays, Says Analyst
Though the pandemic stressed many theatrical exhibitors “to the breaking point,” the movie industry “remains committed to the premium experience delivered by Imax,” Colliers analyst Steven Frankel wrote investors Friday in an industry update. Frankel noted the latest release date…
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extension, this time from MGM, which pushed the opening of the next James Bond movie, No Time to Die, to Oct. 8 from April 2. The studio also shifted the release of Ghostbusters: Afterlife from June 11 to Nov. 11 and Uncharted from July to February of next year. With many high-profile releases coming over the next two years, Colliers believes “it is a question of when, not if, the business recovers.” The COVID-19 pandemic is forcing its exhibitor partners to restructure, but Imax is typically located in the exhibitors’ “best locations and has almost no exposure to the underperforming assets that are likely to be shuttered in a restructuring,” said Frankel. Longer term, the company may explore ways to extend the “Imax experience” to other areas, such as home entertainment, he said, referencing THX’s licensing program for high-end consumer electronics. Imax already has the Imax Enhanced certification and licensing program with DTS parent Xperi. Imax Enhanced content is available on Ultra HD Blu-ray and streaming services and playable on certified hardware, including select Denon and Onkyo AV receivers and TVs from Sony, Hisense and TCL. “Like all brand extensions, the company needs to be mindful of diluting the brand or straying too far from the company’s core business,” said the analyst.