IMAX Corporation (IMAX): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le monde cinématographique d'Imax Corporation, où l'innovation technologique rencontre des divertissements à couper le souffle. Cette entreprise révolutionnaire a révolutionné l'expérience d'observation du film, transformant les projections ordinaires en voyages visuels extraordinaires qui captivent le public dans le monde. En mélangeant des technologies de projection numérique de pointe, des partenariats mondiaux stratégiques et un engagement inégalé envers le divertissement immersif, IMAX a redéfini la façon dont nous vivons des films, créant un modèle commercial unique qui va bien au-delà des paradigmes de cinéma traditionnels.

IMAX Corporation (IMAX) - Modèle d'entreprise: partenariats clés

Partenariats Hollywood Movie Studios

IMAX a établi des partenariats stratégiques avec les grands studios hollywoodiens:

Studio	Contrat de contenu exclusif	Projections de première
Warner Bros.	Partenariat de contenu à long terme	12-15 versions de films majeurs chaque année
Disney / Marvel	Versions de format IMAX exclusif	8-10 Blockbuster Premières par an
Images universelles	Distribution de format premium	6-8 projections d'événements spéciaux

Collaboration des fabricants de technologies

IMAX s'associe aux principaux fabricants de technologies:

• Barco NV - Technologie du système de projection
• Christie Digital Systems - Équipement de cinéma numérique
• Dolby Laboratories - Systèmes sonores avancés

Chaînes de cinéma Partenariats du monde

Chaîne de cinéma	Nombre de théâtres IMAX	Portée géographique
Théâtres AMC	277 théâtres IMAX	États-Unis, Canada
Cinémas royaux	193 théâtres IMAX	États-Unis
Divertissement Cineplex	34 théâtres IMAX	Canada

Fournisseurs d'équipements numériques

Les principaux partenaires technologiques comprennent:

• Sony Corporation - Technologie d'imagerie numérique
• Panasonic Corporation - Systèmes d'affichage professionnels
• Samsung Electronics - Technologies d'affichage et de projection

Depuis 2023, IMAX fonctionne 1 702 systèmes de théâtre dans le monde entier à travers 87 pays.

IMAX Corporation (IMAX) - Modèle d'entreprise: activités clés

Développement de format de film et technologie de la technologie du cinéma numérique

IMAX a investi 80 millions de dollars dans la recherche et le développement en 2022 pour la technologie du cinéma numérique.

Investissement technologique	Montant
Dépenses de R&D 2022	80 millions de dollars
Brevets de cinéma numérique	37 brevets actifs
Taille de l'équipe d'innovation technologique	124 ingénieurs

Conception et ingénierie du système de théâtre

IMAX exploite 1 702 systèmes de théâtre à l'échelle mondiale au T4 2023.

• 1 702 systèmes de théâtre total dans le monde
• 1 640 théâtres commerciaux
• 62 théâtres institutionnels
• Théâtres dans 87 pays

Production et distribution de films mondiaux

IMAX a sorti 24 films en 2022 sur les marchés mondiaux.

Métriques de distribution de films	Nombre
Total des films sortis 2022	24 films
Revenus au box-office mondial	683 millions de dollars
Part de marché international	12.4%

Marketing et promotion des expériences de cinéma à grand format

Les dépenses de marketing pour IMAX en 2022 étaient de 52,3 millions de dollars.

• Budget marketing 2022: 52,3 millions de dollars
• Attribution du marketing numérique: 64%
• Engagement des médias sociaux: 3,2 millions d'abonnés
• Canaux de marketing: Promotions numériques, imprimées et partenaires

IMAX Corporation (IMAX) - Modèle d'entreprise: Ressources clés

Projection numérique propriétaire et technologies sonores

IMAX possède 572 systèmes de théâtre propriétaires dans le monde au cours du troisième trimestre 2023. La technologie de projection numérique de la société représente une valeur marchande estimée à 247 millions de dollars. Les spécifications techniques clés comprennent:

Paramètre technologique	Spécification
Résolution	Projection numérique 4K / 8K
Gamme de taille d'écran	52-100 pieds de large
Système audio	12.1 Channel Audio immersif

Vaste réseau mondial d'installations de théâtre premium

IMAX maintient un réseau de théâtre mondial avec une distribution géographique précise:

Région	Nombre de théâtres
Amérique du Nord	389 théâtres
Europe	142 théâtres
Asie-Pacifique	413 théâtres
Reste du monde	98 théâtres

Portfolio de propriété intellectuelle solide

• Brevets totaux enregistrés: 87
• Demandes de brevet en instance: 42
• Catégories de brevets: technologie de projection, ingénierie du son, conception de théâtre

Ingénierie spécialisée et expertise technique

IMAX emploie 651 professionnels techniques et en génie en 2023, avec une expérience moyenne de 12,4 ans dans la technologie du cinéma.

Réputation de la marque dans les expériences de cinéma premium

Évaluation de la marque estimée à 612 millions de dollars, avec 89% de reconnaissance mondiale de marque sur le marché du cinéma premium.

IMAX Corporation (IMAX) - Modèle d'entreprise: propositions de valeur

Expérience de visionnement cinématographique immersive et de haute qualité

IMAX offre une expérience de cinéma haut de gamme avec la technologie propriétaire qui fournit 40% d'écran plus grand par rapport aux écrans de théâtre standard. En 2024, IMAX exploite 1 695 théâtres dans le monde dans 87 pays.

Comparaison de la taille de l'écran	Dimensions
Écran de théâtre standard	Environ 30 à 40 pieds de large
Écran IMAX	52-98 pieds de large

Formats d'écran plus grands avec une image supérieure et une qualité sonore

IMAX utilise une technologie de film de 15/70 mm avec une résolution jusqu'à 18k, nettement plus élevée que les projections numériques standard.

• Système audio: 12.1 Channel Surround Sound
• Technologie de projection propriétaire avec projection laser 4K
• Ratio de contraste de 9000: 1

Contenu exclusif et expérience de divertissement améliorée

IMAX a généré 467,3 millions de dollars de revenus en 2023, avec des contributions importantes de sorties de films exclusives et de contenu spécialisé.

Type de contenu	Contribution annuelle des revenus
Blockbusters hollywoodiens	62% des revenus totaux
Contenu documentaire spécialisé	18% des revenus totaux

Innovation technologique dans la présentation du cinéma

IMAX a investi 54,2 millions de dollars dans la recherche et le développement en 2023 pour maintenir le leadership technologique.

• Technologie de rediffusion numérique (DMR)
• Systèmes de projection laser
• Capacités 3D et IMAX 3D

Option de divertissement premium pour les amateurs de films

Prix ​​moyen des billets pour les projections IMAX: 17,50 $, par rapport au prix du billet de théâtre standard de 9,57 $.

Segment de marché	Pourcentage de public cible
Passionnés de films premium	27% de la population cinématographique
Technologie Adoptères précoces	19% de la population cinématographique

IMAX Corporation (IMAX) - Modèle d'entreprise: Relations clients

Engagement direct à travers des campagnes marketing

IMAX a investi 12,3 millions de dollars dans les dépenses de marketing au troisième trimestre 2023. La société utilise des campagnes publicitaires numériques ciblées sur plusieurs plateformes, atteignant environ 45 millions de followers de médias sociaux.

Canal de marketing	Taux d'engagement	Portée annuelle
Réseaux sociaux	3.7%	45 millions de followers
Publicité numérique	2.9%	68 millions d'impressions

Programmes de fidélité pour les cinéphiles fréquents

IMAX Premium Experience Program offre:

• 15% de réduction pour les clients réguliers
• Projections d'aperçu exclusif
• Système de points accumulés

Plateformes numériques pour la réservation et les informations de billets

Les plateformes numériques IMAX ont traité 22,4 millions de transactions de billets en ligne en 2023, ce qui représente 67% du total des ventes de billets.

Plate-forme numérique	Transactions	Pourcentage de ventes
Site Web IMAX	12,6 millions	38%
Application mobile	9,8 millions	29%

Expérience de cinéma personnalisée

Offres IMAX Expériences de visualisation personnalisées à travers:

• Systèmes sonores avancés
• Technologies de projection à haute résolution
• Arrangements de sièges spécialisés

Construction communautaire à travers des projections spéciales

IMAX a accueilli 1 247 projections d'événements spéciaux en 2023, attirant plus de 500 000 participants dans 54 pays.

Type d'événement	Nombre de projections	Total des participants
Événements de première	412	218,000
Projections du festival du film	315	157,000
Nuits à thème spéciales	520	125,000

IMAX Corporation (IMAX) - Modèle d'entreprise: canaux

Ventes de billets de théâtre direct

IMAX a généré 437,7 millions de dollars de revenus d'admission au théâtre en 2022. Les ventes directes de billets se produisent grâce à 1 652 systèmes de théâtre IMAX dans 87 pays.

Canal de vente	Revenus (2022)	Nombre de théâtres
Ventes de billets de théâtre direct	437,7 millions de dollars	1 652 théâtres

Plateformes de réservation en ligne

IMAX s'associe à plusieurs plateformes de billetterie en ligne, notamment:

• Fandango
• Billets d'atome
• BoueTtickets.com

Applications mobiles

Les téléchargements de l'application mobile IMAX ont atteint environ 2,5 millions d'utilisateurs en 2022. L'application prend en charge:

• Achat de billets
• Services de localisation du théâtre
• Horaires de films

Partenariats de la chaîne de cinéma

IMAX collabore avec les grandes chaînes de cinéma, notamment:

• Théâtres AMC
• Cinémas royaux
• Divertissement Cineplex

Chaîne de cinéma	Nombre d'écrans IMAX	Présence géographique
Théâtres AMC	364 écrans	États-Unis
Cinémas royaux	206 écrans	États-Unis
Divertissement Cineplex	27 écrans	Canada

Sites Web d'entreprise

IMAX.com sert de plate-forme numérique principale avec environ 3,2 millions de visiteurs mensuels du site Web en 2022.

Métrique du site Web	2022 données
Visiteurs mensuels du site Web	3,2 millions
Pourcentage de vente de billets en ligne	42%

IMAX Corporation (IMAX) - Modèle d'entreprise: segments de clientèle

Des amateurs de films à la recherche d'expériences premium

IMAX dessert environ 1,3 milliard de cinéphiles mondiaux par an, avec un segment de base de passionnés de cinéma haut de gamme prêts à payer le prix des billets premium.

Caractéristiques du segment	Pourcentage
Tranche d'âge 18-45	62%
Fréquentation du cinéma annuel	6-8 films / an
Prêt à payer des prix premium	73%

Consommateurs de divertissement axés sur la technologie

IMAX cible les consommateurs avertis en technologie à la recherche d'expériences audiovisuelles immersives.

• Démographie indigène numérique
• Pénétration des smartphones: 95%
• Dépenses technologiques annuelles moyennes: 2 400 $

Public de cinéma haut de gamme

IMAX se concentre sur les segments de marché premium avec un revenu disponible plus élevé.

Tranche de revenu	Pénétration du marché
75 000 $ + revenu annuel	48%
Segment professionnel urbain	35%

Marchés cinématographiques internationaux

IMAX opère dans 75 pays avec une présence sur le marché importante.

Région	Part de marché
Amérique du Nord	42%
Chine	26%
Europe	18%
Reste du monde	14%

Clients d'entreprise et institutionnels

IMAX fournit des technologies de projection et de cinéma spécialisées aux clients institutionnels.

• Musées: 120 installations
• Centres scientifiques: 85 installations
• Institutions éducatives: 65 installations

IMAX Corporation (IMAX) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, IMAX Corporation a déclaré des frais de recherche et de développement de 22,1 millions de dollars, ce qui représente 4,7% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	22,1 millions de dollars	4.7%
2021	18,3 millions de dollars	4.2%

Fabrication et installation technologiques

Les coûts de fabrication et d'installation technologiques d'IMAX pour 2022 ont totalisé environ 87,5 millions de dollars.

• Coût moyen du système de théâtre: 500 000 $ à 1,2 million de dollars
• Dépenses d'installation mondiales: 45,3 millions de dollars en 2022
• Investissement en développement technologique: 42,2 millions de dollars en 2022

Entretien du système de théâtre

Les dépenses annuelles de maintenance du système de théâtre pour l'IMAX en 2022 étaient de 36,7 millions de dollars.

Catégorie de maintenance	Coût
Entretien régulier	24,5 millions de dollars
Mises à niveau technique	12,2 millions de dollars

Activités de marketing et de promotion

IMAX a dépensé 53,4 millions de dollars en activités de marketing et de promotion en 2022.

• Marketing numérique: 18,2 millions de dollars
• Publicité traditionnelle: 22,6 millions de dollars
• Événements promotionnels: 12,6 millions de dollars

Coûts opérationnels mondiaux

Les coûts opérationnels mondiaux totaux de l'IMAX en 2022 étaient de 215,6 millions de dollars.

Catégorie de coûts opérationnels	Montant
Dépenses du personnel	92,3 millions de dollars
Frais administratifs	68,7 millions de dollars
Opérations internationales	54,6 millions de dollars

IMAX Corporation (IMAX) - Modèle d'entreprise: Strots de revenus

Ventes de billets de théâtre

IMAX a déclaré des revenus totaux au box-office de 394,9 millions de dollars en 2022. Répartition mondiale des ventes de billets de théâtre:

Région	Revenus (millions de dollars)	Pourcentage
Amérique du Nord	$237.4	60.1%
Marchés internationaux	$157.5	39.9%

Frais de licence de technologie

Les revenus de licence de technologie IMAX en 2022 ont atteint 116,3 millions de dollars. Structure des frais de licence:

• Frais de licence à l'écran
• Revenus de contrat de maintenance
• Frais de configuration et d'installation

Ventes d'équipement aux chaînes de cinéma

Les revenus des ventes d'équipements en 2022 ont totalisé 87,6 millions de dollars. Les ventes d'équipements comprennent:

Type d'équipement	Prix ​​moyen	Unités vendues
Systèmes numériques IMAX	1,4 million de dollars	52
Systèmes laser IMAX	2,3 millions de dollars	35

Remastering numérique des films

Les frais de remastering numérique (DMR) en 2022 étaient de 45,2 millions de dollars. Les sources de revenus comprennent:

• Conversions de films à succès
• Frais de traitement du format premium
• Remastering de film d'événement spécial

Revenus d'expansion du marché international

Les revenus du marché international en 2022 comprenaient 157,5 millions de dollars, avec une rupture géographique:

Région	Revenus (millions de dollars)	Taux de croissance
Chine	$68.3	12.5%
Europe	$42.7	8.3%
Asie-Pacifique (à l'exclusion de la Chine)	$46.5	10.2%

IMAX Corporation (IMAX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why exhibitors invest in IMAX systems and why moviegoers pay extra for the ticket. It boils down to measurable performance and an experience that standard screens simply can't replicate. Here's the quick math on what IMAX delivers as of late 2025.

Unparalleled, immersive cinematic experience for moviegoers

The value proposition here is the superior visual and audio presentation that drives consumers to seek out the format, especially for major releases. This demand is reflected in the box office capture rates for films optimized for the platform.

• For films designated as 'Filmed for IMAX,' IMAX screens captured around 20% or more of the domestic opening weekend for titles like Mission: Impossible - The Final Reckoning in 2025.
• IMAX delivered a record third quarter global box office of $367.6 million in Q3 2025, a 50% increase year-over-year.
• IMAX is on track to generate $1.2 billion in global box office revenue for the full year 2025, representing a projected 33% increase from 2024.
• The company noted that in Q3 2025, IMAX delivered 4.2% of the total global box office.

A premium distribution platform for studios to maximize box office returns

Studios value the platform because it drives disproportionately high revenue from a small percentage of screens, especially when content is specifically formatted for the system.

The commitment to the format is evident in the content pipeline:

• IMAX announced a slate of at least 14 releases for 2025 that are 'Filmed for IMAX,' more than double any previous year.
• The Content Solutions segment revenue in Q3 2025 increased 49% year-over-year to $44.8 million.

Technical and creative support for filmmakers using 'Filmed for IMAX' cameras

Filmmakers use the proprietary technology to capture the highest quality image, which then translates into higher box office capture. The company is actively supporting this production side.

Metric	2025 Data Point
Next-Gen IMAX Film Cameras Planned	4 to start
Noise Reduction on New Film Cameras	30% quieter than existing IMAX film cameras

Higher per-screen average box office revenue for exhibitor partners

Exhibitors invest because the specialized screens generate significantly more revenue per screen than standard auditoriums. The growth in the network itself shows this demand is strong.

Here's a look at the network growth and profitability metrics as of the end of Q3 2025:

Metric	Value (End of Q3 2025 or Q3 2025)
Total IMAX Locations	1,759
System Installations Year-to-Date	95 systems
System Signings Year-to-Date	142 signings (exceeding 2024 full-year total of 130)
IMAX System Backlog	478 systems
Q3 2025 Net Income Margin	21%
Q3 2025 Adjusted EBITDA Margin	48.6%

A defintely differentiated, high-margin experience that justifies premium ticket prices

The premium experience allows for a higher ticket price, which flows through to high incremental margins for IMAX Corporation. When box office is strong, the operating leverage is significant.

The margin capture on high-grossing quarters is a key differentiator:

• The Content Solutions segment achieved a gross margin of 71% in Q3 2025.
• For quarterly box office levels over $250 million, the incremental flow-through rate is 85%.
• In the US, a premium IMAX ticket generally costs between $15 and $22, representing a surcharge of typically $3-$7 over a standard ticket.
• For the Avatar: Fire and Ash opening in Delhi, the premium PVR IMAX 3D ticket was priced at Rs 2400, compared to a standard ticket at Rs 1000.

IMAX Corporation (IMAX) - Canvas Business Model: Customer Relationships

You're looking at how IMAX Corporation (IMAX) locks in its exhibitor base and studio partners; it's all about long-term, high-value relationships, not just transactional sales. The core of this is the long-term joint revenue-sharing agreements (JRSAs) with exhibitors.

These JRSAs, which are master contracts with global exhibitors, typically have an individual system contract length spanning 10 to 12 years. For the three months ended March 31, 2025, revenue attributable to transactions under JRSAs totaled $19.2 million. System rental revenue, which includes JRSA and hybrid JRSA contracts, is stated as 6.9% of IMAX Box Office. IMAX is actively investing in this base, having spent $24 million year-to-date on gross CapEx related to partnering with exhibitor customers through these arrangements, with large partners like AMC, Wanda, and Regal ramping up investment. Wanda Film, for example, announced an MOU to deepen its partnership, which follows its June announcement to convert up to 27 premium-format auditoriums to IMAX systems.

The scale of the installed base that these relationships support is significant, and you can see the growth trajectory clearly:

Metric	Value	Date/Period
Total IMAX Systems Operating	1,829	September 30, 2025
Commercial Multiplexes	1,759	September 30, 2025
Countries and Territories with Systems	89	September 30, 2025
System Backlog	478	End of Q3 2025
YTD System Signings	142	Through Q3 2025
Full Year 2024 System Signings Total	130	Full Year 2024

Dedicated technical support and maintenance is baked into every exhibitor contract; annual maintenance fees are included in all exhibitor agreements. This service is part of the Technology Products and Services segment, which generated $34.8 million in gross margin for the third quarter of 2025. The total network of 1,829 systems as of September 30, 2025, is the base for these ongoing service relationships.

Direct, strategic relationships with major studio heads and A-list directors drive the content pipeline, which is the lifeblood of the system utilization. The company is on track to deliver a record global box office of more than $1.2 billion in 2025. For the third quarter of 2025, IMAX captured 4.2% of the global box office on less than 1% of screens. The commitment from filmmakers is strong, with IMAX projecting 25 titles to be 'Filmed for IMAX' in 2025. Looking ahead, IMAX has secured filming commitments for over 10 films in 2026, including projects like The Odyssey and Star Wars. Furthermore, an expanded partnership with GKIDS will bring further 4K Studio Ghibli restorations to North American theaters in 2026 and beyond.

The high-touch, consultative sales process for new system installations is reflected in the strong demand and installation pacing. Through the third quarter of 2025, IMAX installed 95 systems year-to-date, pacing to the high end of the full-year guidance of 150 to 160 installations. This YTD installation number represents an 8% increase compared to the 88 systems installed in the same period in 2024. The sales pipeline is robust; system signings of 142 year-to-date have already eclipsed the full-year 2024 total of 130.

• Q3 2025 System Installations: 38 systems.
• Q3 2025 System Signings: 19.
• Q1 2025 System Installations: 21 systems.
• Q2 2025 System Installations: 36 systems.

Finance: draft 13-week cash view by Friday.

IMAX Corporation (IMAX) - Canvas Business Model: Channels

You're looking at how IMAX Corporation (IMAX) physically gets its premium experience in front of audiences, which is a mix of hardware sales, ongoing partnerships, and content delivery. This is the core of their distribution strategy.

Direct sales and leasing of systems to global cinema exhibitors.

IMAX Corporation (IMAX) moves hardware through its Technology Products and Services segment, which covers selling or leasing the actual IMAX theater systems, often with an initial 10-year term, plus ongoing maintenance and fees. You need to watch the installation pace, as it directly impacts future revenue streams.

Here's a look at system installations for 2025 year-to-date:

Metric	Q1 2025	Q2 2025	Q3 2025	Year-to-Date (9 Months Ended Sept 30, 2025)
Total Systems Installed	21	36	38	95 systems
Systems Under Sales Arrangements	13	N/A	17	43 systems
Prior Year YTD Sales Arrangements	5 (Q1 2024)	N/A	20 (Q3 2024)	35 systems (YTD 2024)

The Company ended the third quarter with a backlog of 478 IMAX systems, showing strong future demand.

Joint revenue-sharing arrangements (JRSAs) with theater operators.

The revenue from these contingent rent arrangements varies based on film performance and the specific theater setup. Management includes the investment in these JRSAs when calculating free cash flow. This model is key to their margin expansion story, as it ties revenue directly to box office success.

Strategic partnerships continue to drive network growth. For example, Wanda Film announced in June 2025 it would convert up to 27 premium-format auditoriums to IMAX systems. Also, IMAX Corporation (IMAX) and Wanda Film are exploring deeper collaboration in merchandise development and retail initiatives, leveraging their networks as sales channels.

The global network of 1,829 physical IMAX screens in 89 countries.

IMAX Corporation (IMAX) operates a massive global footprint, which is the physical manifestation of its channel strategy. As of September 30, 2025, there were 1,829 IMAX systems operating across 89 countries and territories. This network is the platform for their premium experience.

The network composition as of September 30, 2025, breaks down like this:

• Commercial multiplexes: 1,759
• Commercial destinations: 10
• Institutional locations: 60

To be fair, as of November 2025, another source cites 1,759 IMAX theatres in 90 countries, with 1,693 in commercial multiplexes.

Direct distribution of content via the IMAX digital network.

This channel is handled by the Content Solutions segment, which involves digital remastering (DMR) of films and their distribution. The network's success is measured by the box office it generates.

Key content distribution metrics for 2025:

• Projected full-year 2025 global box office: more than $1.2 billion
• Q3 2025 gross box office: $367.6 million
• IMAX share of global box office in Q3 2025: 4.2%
• Content Solutions revenue (nine months ended September 30, 2025): $105.7 million

The Content Solutions segment gross margin hit a record 71% in Q3 2025.

IMAX Corporation (IMAX) - Canvas Business Model: Customer Segments

You're looking at the core groups IMAX Corporation serves, the ones that keep the premium experience engine running. It's a tight ecosystem where technology, content, and audience demand feed each other.

Global cinema exhibitors (multiplex chains) seeking a premium format upgrade.

This segment is about expanding the physical footprint. The demand for the IMAX Experience® is driving network growth globally. As of June 30, 2025, there were 1,821 IMAX systems operating across 89 countries and territories. The pace of expansion is strong; IMAX installed 38 systems in the third quarter of 2025, bringing the year-to-date installation total to 95 systems. The company is pacing toward its full-year 2025 guidance of installing 150 to 160 new systems. Furthermore, the backlog of signed systems stood at 478 as of the end of Q3 2025, giving clear visibility into future revenue from this segment.

The exhibitor segment is segmented by arrangement type, which impacts revenue recognition:

• YTD 2025 systems under sales arrangements: 43 systems.
• YTD 2024 systems under sales arrangements: 35 systems.
• Full-year 2024 system installations: 146 systems.

Major Hollywood and international film studios (e.g., China, India) for distribution.

Studios use the IMAX platform to maximize the opening impact of their major releases. The Content Solutions segment, which covers digital remastering and distribution, is a key revenue driver. For the third quarter of 2025, Content Solutions revenue reached $44.8 million, marking a 49% year-over-year increase. IMAX is on track to deliver a record $1.2 billion in global box office for the full 2025 fiscal year. The international market, especially China, is critical; the Q1 2025 title "Ne Zha 2" became the highest-grossing IMAX release of all time in China, generating $161 million in IMAX receipts. Local language box office through Q3 2025 shattered the previous full-year record by more than 40%.

Here's a look at the content performance driving studio interest:

Metric	Q3 2025 Value	Comparison/Context
Q3 Global Box Office	$367.6 million	Up 50% year-over-year; a new third-quarter record
Global Box Office Market Share	4.2%	On less than 1% of total screens
Content Solutions Gross Margin	71%	Record high for the segment in Q3 2025
Top Q3 Hollywood Gross (F1: The Movie)	Over $60 million	One of the top two grossing titles in Q3 2025

Premium moviegoers willing to pay a higher ticket price for event films.

These are the consumers who actively seek out the premium format, viewing it as a must-see event. As of 2025, the average standard 2D ticket price in the U.S. was about $11.50. IMAX tickets consistently command a premium, typically adding $3-$7 more than a standard ticket. The willingness to pay more is evident in international markets too. For example, in Singapore, an IMAX Laser ticket was priced at $25, compared to a standard $11 ticket. In India, for a major release like Dhurandhar, the weekend average IMAX ticket price was around Rs 570. This price elasticity supports the high-margin nature of the business.

High-profile filmmakers and directors who demand the highest quality presentation.

Filmmakers are a segment because their creative choice drives the premium content pipeline. The Filmed For IMAX® program is a direct appeal to this group, allowing them to optimize the presentation. In Q2 2025, 6 of the top 10 movies were part of this program. When these films release, they deliver outsized returns; for flagship titles, IMAX captured around 20% or more of the domestic opening weekend box office. The high gross margin in Content Solutions, reaching 71% in Q3 2025, shows the financial benefit of this creative partnership. The operating leverage is clear: box office revenues over $250 million in a quarter flow through at an 85% rate to EBITDA.

Filmmakers are drawn to the platform's ability to deliver disproportionate box office results.

IMAX Corporation (IMAX) - Canvas Business Model: Cost Structure

You're looking at the expense side of the IMAX Corporation engine, the costs required to keep the global network running and innovating. It's a mix of high-tech manufacturing, content preparation, and global overhead.

Significant Research and Development (R&D) expenses for technology innovation

IMAX Corporation continues to invest in its core technology, like new film cameras and Streaming Technology product offerings. For the first quarter of 2025, Research and Development expenses were reported at $2.0 million. This compares to $2.8 million for the same period in 2024, representing a decrease of $0.8 million, or 29%, for that quarter.

Cost of goods sold (COGS) for manufacturing and installing projection systems

The costs associated with the Technology Products and Services segment, which includes the sale and rental of IMAX Systems and their maintenance, are a direct component of COGS. Here's a look at the gross margin performance, which helps infer the underlying cost structure for system-related activities:

Period Ended	Segment Revenue (Millions USD)	Segment Gross Margin (Millions USD)	Inferred COGS (Millions USD)
March 31, 2025 (Q1)	$51.0	$29.0	$22.0
June 30, 2025 (Q2)	$55.6	$30.2	$25.4
September 30, 2025 (Q3)	$60.4	$34.8	$25.6

The inferred COGS for the Technology Products and Services segment for the first nine months of 2025 would be the sum of these figures, representing the cost to deliver systems and maintenance services. The company installed 38 systems in Q3 2025 alone.

Content acquisition and digital re-mastering costs (DMR)

Digital Re-Mastering (DMR) falls under the Content Solutions segment. While specific acquisition costs aren't detailed, the gross margin generated from this segment shows the profitability of the service. For the third quarter of 2025, the gross margin for Content Solutions was $31.9 million, a significant increase from $16.4 million in Q3 2024, reflecting a margin of 71% in Q3 2025.

The company is focused on a strong content slate, which drives these costs and subsequent revenue. For example, the success of titles like "Ne Zha 2" in China influences the volume of DMR work undertaken.

Global operational costs, including system maintenance and field support

System maintenance and field support are embedded within the Technology Products and Services segment's COGS, as noted above. The total number of systems in the global network as of September 30, 2025, was 1,829 across 89 countries and territories. Supporting this large, distributed network requires ongoing field support costs.

• The total network grew to 1,759 commercial multiplexes as of September 30, 2025.
• The company installed 95 systems year-to-date as of September 30, 2025.

Sales, General, and Administrative (SG&A) expenses to support global expansion

SG&A expenses are part of the overall operating expenses that support the global infrastructure, sales efforts, and corporate functions. For the full year 2024, Selling, general and administrative expenses, alongside research and development costs, were noted as expenses not allocated to the Company's reportable segments. The company expects a Total Adjusted EBITDA margin of 40%+ for 2025. The total debt, excluding deferred financing costs, was $261 million as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

IMAX Corporation (IMAX) - Canvas Business Model: Revenue Streams

IMAX Corporation (IMAX) revenue streams are primarily split between content monetization and technology deployment, with a growing focus on ancillary consumer engagement.

Content Solutions revenue, derived from box office sharing and Digital Media Remix (DMR) fees, hit $44.8 million in Q3 2025. This segment saw tremendous growth, with gross profit reaching $31.9 million in the quarter, representing a record gross margin of 71%. The underlying driver was a Q3 2025 global box office of $367.6 million, up 50% year-over-year.

Technology Products and Services revenue, covering system sales, leases, and maintenance, was $60.4 million in Q3 2025, with a gross profit of $34.8 million and a 58% margin. This segment's revenue growth was driven by maintenance revenues, which more than offset a lower level of systems installed under sales arrangements during the quarter.

The company is on track for a record global box office of $1.2 billion in 2025.

The core technology revenue is further detailed by system activity:

• Total IMAX systems operating as of September 30, 2025: 1,829 systems across 89 countries and territories.
• System installations year-to-date through Q3 2025: 95 systems.
• New and upgraded system signings through September 2025: 142.

Rental income from leased systems under joint revenue-sharing models is a component of the Technology Products and Services stream, with some theaters shifting from sales to this recurring revenue-sharing model.

Ancillary revenue from new IP and merchandise initiatives is an emerging focus, exemplified by the Memorandum of Understanding (MOU) signed with Wanda Film Holding Co., Ltd. to collaborate on merchandise development, brand-driven IP initiatives, and retail programs. This collaboration aims to tap into the growing 'lobby economy' and expand consumer engagement beyond the traditional box-office business.

Here's a quick look at the Q3 2025 segment performance:

Revenue Stream Component	Q3 2025 Revenue (Millions USD)	Q3 2025 Gross Profit (Millions USD)	Q3 2025 Gross Margin (%)
Content Solutions	$44.8	$31.9	71%
Technology Products and Services	$60.4	$34.8	58%

The total consolidated revenue for IMAX Corporation in Q3 2025 was $106.7 million, representing 17% growth over the prior year's third quarter of $91.5 million.