IMAX reports huge losses in China
IMAX's Chinese division reported huge losses in the first half of 2020. According to Deadline, they ranged from $ 34 million to $ 36 million. For comparison, for the same period of 2019, profits exceeded $ 24 million. The losses were quite expected, as IMAX was forced to close all its 700 halls in China at the beginning of the new type of coronavirus epidemic at the end of January. At the time of publication of the report, some halls and cinemas had already begun to return to work, but the lack of new content affected their profitability. Note that according to an agreement with Wanda, IMAX was to open 10 new halls in China within years and modernize several dozen existing ones. It is not yet known whether these plans will be implemented. Let us also remind that in North America large cinema chains remain closed for the time being. They were slated to resume in mid-July with the fantastic Argument, but Warner Bros. at first she changed the release date several times, and then completely withdrew the picture from the box office. Its further fate has not yet been specified. The Topic of Article: IMAX reports huge losses in China. |
