Wikipedia

IMAX Corporation

IMAX Corporationis a Canadian production theater company which designs and manufacturesIMAXcameras andprojectionsystems as well as performing film development, production, post-production and distribution to IMAX-affiliated theaters worldwide.[13]Founded inMontrealin 1967, it has headquarters in theTorontoarea, and operations inNew York CityandLos Angeles.

IMAX Corporation
Company typePublic
IndustryMotion picture production and exhibition
PredecessorMulti-Screen Corporation, IMAX Systems Corporation
FoundedAugust 20, 1967;57 years ago(1967-08-20)inMontreal,Quebec,Canada
Founders
Headquarters
Area served
Worldwide
Key people
ProductsSpecial-venue films and movie theaters
RevenueDecreaseUS$352 million(2024)[3]
DecreaseUS$43.9 million (2024)[4]
DecreaseUS$32.7 million (2024)[5]
Total assetsIncreaseUS$830 million (2024)[6]
Total equityIncreaseUS$378 million (2024)[7]
OwnerKevin Douglas (14.67%)[8]
Number of employees
700 (2024)[9]
DivisionsIMAX, IMAX 3D, IMAX Dome, IMAX DMR, IMAX at AMC(joint venture withAMC Theatres),IMAX Enhanced(joint venture withDTS)[10]
SubsidiariesIMAX Filmed Entertainment
Ridefilm Corporation
Sonics Associates
David Keighley Productions[11]
3D Entertainment
Ssimwave[12]
Websiteimax.com

As of December 2023,there were 1,772 IMAX theaters located in 90 countries, of which 1,693 were in commercial multiplexes.[14]These include IMAX variations such asIMAX 3D,IMAX Dome,andDigital IMAX.The CEO isRichard Gelfond.[15]

History

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IMAX is a Canadian corporation that is based inMississauga, Ontario.The company was founded in 1967 when three filmmakers—Graeme Ferguson,Roman KroitorandRobert Kerr—incorporated IMAX Corporation. The idea and the new technology, which resulted in the birth of the company, came from the multi-screen productions of Roman Kroitor, Colin Low and Hugh O'Connor.In the Labyrinth[16]and Ferguson'sMan and the Polar Regions(on which Robert Kerr collaborated), both screened at theExpo 67.[17][18]From their experience, Graeme Ferguson, Roman Kroitor and Robert Kerr realized that new technology would be necessary to develop a larger and more complex project than previously seen. As a result, they sought an engineer named William Shaw in 1968[19](he had gone toGalt Collegiate InstituteinGalt, Ontario,now Cambridge, with Ferguson and Kerr) to help develop this technology. Shaw created this new projector that allowed for films to have exceptional quality and to be ten times larger than conventional35mm picture frames.[20]The first movie IMAX Corporation produced using this new technology wasTiger Child,which was featured at Expo '70 in Osaka, Japan.[20]It was because of the multi-screen viewing that Graeme Ferguson, Roman Kroitor and Robert Kerr wanted to create a theatre with giant screens, surround sound and stadium seating.

William Shaw was instrumental in helping IMAX Corporation fulfill its ambitions in creating larger and more realistic experiences for audience which included oversized screens, surround sound and steep seating for better viewing.[18]Shaw remained at IMAX (although officially retired) as a designer and inventor until his passing on August 31, 2002, at the age of 73.[20]Before retiring, Shaw created a 3D camera which was sent to the International Space Station forIMAXfilms.[20]In 1994, investment bankers Gelfond and Bradley Wechsler acquired IMAX Corporation through a leveraged buyout and publicly listed the company on the NASDAQ stock exchange.[21][22]IMAX then began to focus their abilities on attracting Hollywood production houses.[23]Another engineer at IMAX Corporation, Brian Bonnick, Chief Technology Officer at IMAX Corporation, developed technologies that made it possible for the worldwide IMAX to produce major Hollywood films.[24]More flexible technology required by that industry led to the development of theIMAX DMR(Digital Re-Mastering), which was able to adapt quickly in various locations. Newer technology followed, including the IMAX Experience and the IMAX MPX theatre system. Revamped IMAX 2D footage has been transferred intoIMAX 3D.[24]In September 2022, IMAX Corporation acquired streaming technology company Ssimwave for $21 million in a cash and stock deal.[12]

Recent milestones

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  • In April 2009, Gelfond became the sole IMAX CEO and Wechsler moved into the role of chairman of the board of directors.[25][26]
  • Later in 2009, IMAX participated in the movieAvatar,to which the company credits its mainstream Hollywood success.[27][28]
  • In March 2011, IMAX noted that China's Wanda Cinema Line announced a 75-theatre deal with IMAX Corporation.[29]
  • In 2012, IMAX opened its first location in Tianjin, China.[30]
  • On October 8, 2015, IMAX China, a subsidiary of the company, was listed on theHong Kong Stock Exchange.[31]According toThe Hollywood ReporterandThe Wall Street Journal,"IMAX China raised $248million in its initial public offering, "[32]which was the "bottom of [the] indicative price range."[33]
  • As of December 2019,there were 1,624 theatres in 81 countries and territories.[34]

Co-productions

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Main articles:Inhumans (TV series)andInhumans premiere

In November 2016,Marvel Televisionand IMAX announced the live action television seriesMarvel's Inhumans,based on the superhero raceof the same name.The series, co-produced withABC Studios,saw IMAX serve as a financing partner, a first for IMAX, which allowed Marvel to spend more on the series than it had on its other television series, especially for visual effects. The entire series was filmed with IMAX digital cameras.Inhumansdebuted an edited specific for theatrical-release version of the first two episodes. The episodes debuted on IMAX screens in theatres worldwide in September 2017, with the series airing weekly onABCafterwards.[35][36][37]After the poor reception to the IMAX version of the first two episodes and a box office gross of $3.5million, Richard Gelfond said, "Going forward, we intend to take a more conservative approach consistent with theGame of Thronesapproach to capital investments and content. We will be more conservative when considering whether to invest our own capital; and if so, to what extent. "[38]

See also

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References

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  1. ^"Construction to start on IMAX headquarters in Playa Vista".November 23, 2015.
  2. ^Ellingson, Annlee."Imax sets new global box-office record".L.A. Business First.Archivedfrom the original on April 30, 2023 – viaThe Business Journals.
  3. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  4. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  5. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  6. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  7. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  8. ^"MarketScreener".
  9. ^https://www.sec.gov/ix?doc=/Archives/edgar/data/921582/000092158225000008/imax-20241231.htm.{{cite web}}:Missing or empty|title=(help)
  10. ^"Imax and DTS Partner to Launch Imax® Enhanced Program for Home Entertainment".September 4, 2018.
  11. ^"Imax Corporation – Company History".Fundinguniverse.com.Archivedfrom the original on October 17, 2012.RetrievedFebruary 24,2012.
  12. ^abGoldsmith, Jill (September 22, 2022)."Imax Expands Horizons With Acquisition Of Streaming Tech Company Ssimwave".Deadline Hollywood.
  13. ^"History of IMAX".Funding Universe. September 3, 2011.Archivedfrom the original on October 21, 2012.RetrievedApril 2,2013.
  14. ^"IMAX Corporation 2023 Annual Report (Form 10-K)".EDGAR Pro.U.S. Securities and Exchange Commission.February 27, 2024.
  15. ^"IMAX Governance".www.imax.com.May 9, 2016.Archivedfrom the original on April 8, 2019.RetrievedSeptember 13,2019.
  16. ^"In the Labyrinth (1967) Full Cast & Crew".IMDB.Archivedfrom the original on October 24, 2020.RetrievedOctober 24,2020.
  17. ^Aitken, Ian (October 27, 2005)."NFB's Labyrinth".Encyclopedia of the Documentary Film.Routledge. pp.168–9.ISBN978-1579584450.
  18. ^abAnonymous (Spring 1993). "Oscar Nominated Canadian Company on the Leading Edge".Performing Arts & Entertainment in Canada.ProQuest224882893.
  19. ^Tillson, Tamsen (September 15, 2002). "Obituaries: Shaw Thought Big: IMAX".Variety.ProQuest236388230.
  20. ^abcdAnonymous (September 10, 2002). "His Talents Made IMAX Possible".National Post.ProQuest329968693.
  21. ^Enchin, Harvey (January 13, 1994)."TORONTO-BASED IMAX FINDS INVESTORS IN U.S."Toronto Globe and Mail.Archivedfrom the original on April 12, 2018.RetrievedApril 12,2018– via Deseret News.
  22. ^"Imax brand is larger than life".The Hollywood Reporter.June 19, 2007.Archivedfrom the original on April 12, 2018.RetrievedApril 12,2018.
  23. ^Schawbel, Dan."Richard Gelfond: How He Took IMAX From Museums To Hollywood".Forbes.Archivedfrom the original on April 13, 2018.RetrievedApril 12,2018.
  24. ^abAnonymous (September 24, 2007). "IMAX Corporation".The Globe and Mail.ProQuest383811791.
  25. ^"Imax nixes co-chairman, co-CEO posts".The Globe and Mail.December 13, 2008.
  26. ^"IMAX realigns governance".Financial Post.Archivedfrom the original on January 17, 2018.RetrievedJanuary 16,2018.
  27. ^Lindner, Melanie (March 11, 2010)."IMAX Chief Says Avatar Is Just The Start".Forbes.Archivedfrom the original on January 17, 2018.RetrievedJanuary 16,2018.
  28. ^Prodhan, Georgina (April 12, 2010)."Avatar drives IMAX box office record".Reuters– via www.reuters.com.
  29. ^"IMAX".IMAX Corporation. Archived fromthe originalon November 15, 2012.RetrievedApril 3,2013.
  30. ^Anonymous (May 5, 2009). "IMAX Corporation; IMAX Signs Theatre Deal in China".China Weekly News.ProQuest199235087.
  31. ^Brzeski, Patrick (February 24, 2016)."Imax China to Install 100 New Screens in 2016, Bullish on Growth".The Hollywood Reporter.Archivedfrom the original on February 25, 2016.RetrievedFebruary 25,2016.
  32. ^Brzeski, Patrick (October 7, 2015)."Imax China Begins Trading on Hong Kong Stock Exchange".The Hollywood Reporter.Archivedfrom the original on February 1, 2018.RetrievedJanuary 31,2018.
  33. ^Lee, Yvonne (October 1, 2015)."IMAX China Raises $248 Million in Hong Kong Initial Public Offering".Wall Street Journal.Archivedfrom the original on February 1, 2018.RetrievedJanuary 31,2018.
  34. ^"EDGAR Pro".yahoo.brand.edgar-online.com.Archivedfrom the original on September 11, 2018.RetrievedSeptember 13,2019.
  35. ^"'Marvel's The Inhumans' Coming To IMAX & ABC In 2017 ".Marvel.com.November 14, 2016.Archivedfrom the original on June 7, 2017.RetrievedNovember 14,2016.
  36. ^Goldberg, Lesley (November 14, 2016)."Marvel, ABC Set 'The Inhumans' TV Series".The Hollywood Reporter.Archivedfrom the original on November 15, 2016.RetrievedNovember 14,2016.
  37. ^Barnes, Brooks (November 14, 2016)."Marvel's 'Inhumans' TV Series Will Arrive via Imax Theaters".The New York Times.Archivedfrom the original on November 17, 2016.RetrievedNovember 15,2016.
  38. ^Hayes, Dade (October 27, 2017)."Imax Concedes 'Marvel Inhumans' Experiment Let Down Moviegoers".Deadline Hollywood.Archivedfrom the original on October 27, 2017.RetrievedOctober 27,2017.
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  • Official website
  • Business data for IMAX Corporation:
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