Shares of IMAX surged over 8% following the announcement that the company remains on track to reach a record $1.4 billion in global box office revenue this year. Concerns arose when Netflix's 'Narnia: The Magician's Nephew' was delayed to February 2027, but the strong opening of 'The Odyssey,' which earned $52 million globally in its debut weekend, alleviated those fears.
IMAX's contribution to the film's success was notable, accounting for 20% of its worldwide opening despite representing less than 1% of total screens. The film's performance exceeded that of Nolan's previous release, 'Oppenheimer,' which grossed over $190 million via IMAX.
IMAX CEO Rich Gelfond highlighted the film's continued momentum, with additional earnings of $11 million on Monday and $10.6 million on Tuesday, marking the best Tuesday performance in the company's history. Looking ahead, IMAX has a robust lineup of upcoming films, including titles from Sony, Marvel, and Warner Bros., which are expected to further drive ticket sales.
The company also reported a significant increase in global installations, with 38 new IMAX systems added in the second quarter, the highest in a decade, and a backlog of 421 contracts for new screens. Gelfond emphasized the ongoing demand from exhibition partners and the potential for continued growth in the IMAX business