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Imax

Imax Corp is a technology platform for entertainment and events. Through its proprietary software, auditorium architecture, patented intellectual property, and specialized equipment, IMAX offers end-to-end solution to create superior, immersive content experiences for which the IMAX brand is globally renowned. The Company has two reportable segments being Content Solutions and Technology Products and Services. The Company leverages its proprietary technology and engineering in all aspects of its business, which principally consists of the IMAX film remastering and the sale or lease of premium IMAX theater systems.

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IMAX

Walt Disney y Marvel Studios triunfan con Deadpool y Lobezno, alcanzando 824 millones de dólares en taquilla global tras dos fines de semana.

&#34;Deadpool y Lobezno&#34; recaudan 824M$ a nivel mundial, Disney alcanza los 3000M$

The<a href="https://www.benzinga.com/markets/large-cap/25/06/46142591/apples-f1-movie-burns-300-million-still-waiting-on-a-profit"> highly anticipated</a> "F1" movie dominated the box office weekend and could be a rare theatrical hit for tech giant Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
Here's a look at how the film stacks up versus other Apple theatrical releases and why its success is important.
What Happened: Starring Brad Pitt, "F1" topped the box office weekend with $55.6 million domestically and $144 million worldwide.
The film is estimated to have a budget of $250 million to $300 million, as reported by <a href="https://variety.com/2025/film/box-office/brad-pitt-f1-movie-box-office-record-apple-megan-2-flops-1236443608/">Variety</a>.
"We're thrilled by the global response to ‘F1' and grateful to the audiences who've embraced the film with such enthusiasm," Apple's head of worldwide video, Jamie Erlicht, said. "This success is a testament to the vision of Joe (Kosinski), Jerry (Bruckheimer), Brad, and Lewis (Hamilton), along with the efforts of the entire cast and crew. Together with Formula 1, they've created an inspiring cinematic journey that captures the energy and spirit of the sport."
Box office estimates projected the film to gross $50 million to $60 million domestically during its opening weekend. The movie opened past the halfway point of that range and international totals from 78 markets likely outperformed estimates.
New estimates suggest the film will gross $500 million to $600 million worldwide, as reported by 9to5Mac. To put that range into perspective, "F1" could not only be the top-grossing Apple film ever, but also make more than all the other Apple theatrical releases combined.
Here are the past four Apple films released in theaters, with the opening and total worldwide box office.
<ul class="wp-block-list">
<li>"Killers of the Flower Moon": $44 million opening, $158 million total</li>
<li>"Napoleon": $78 million opening, $221 million total</li>
<li>"Argylle": $35 million opening, $96 million total</li>
<li>"Fly Me to the Moon": $19 million opening, $42 million total</li>
</ul>
Barring any setbacks, "F1" will become the highest-grossing Apple film. If the film can gross $517 million worldwide at the box office, it would surpass the total earnings of all other Apple films combined.
Read Also: <a href="https://www.benzinga.com/markets/tech/25/06/45898644/tim-cook-explains-why-apples-f1-movie-bet-with-lewis-hamilton-serve-more-than-just-iphone-sales">Tim Cook Explains Why Apple&#8217;s &#8216;F1&#8217; Movie Bet With Lewis Hamilton Serves More Than Just iPhone Sales</a>
Why It's Important: Apple has released a limited number of original films in theaters with<a href="https://www.benzinga.com/24/03/37558754/apples-1b-gamble-on-3-blockbusters-analyzing-box-office-results-streaming-impact-and-oscar-nominatio"> minimal success </a>at the box office. None of the four movies above has made a profit.
Instead, the films have proven to be a marketing push for the company's Apple TV+ streaming platform. With "F1" doing well at the box office, it could mark the tech giant's first profitable theatrical film and also help the streaming platform down the road when the film becomes available on streaming.
Without a distribution arm, Apple relies on partners and must pay upfront fees and a portion of the box office revenue. In this case, that means Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) will also benefit from the strong showing of "F1" at theaters.
Premium movie theater company IMAX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) could also benefit from fans rushing to see the film on its larger screens. Imax and premium formats made up 55% of domestic ticket sales. Imax made up $27.7 million of the total global box office, or around 19%.
"With the most realistic racing sequences ever committed to film, ‘F1: The Movie' quite simply demands to be experienced in Imax, and audiences around the world clearly got that message," Imax CEO Rich Gelfond said.
Overall, the success of the film could be beneficial for the Formula 1 racing league, which is publicly traded as Liberty Formula One (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>) (NASDAQ: FWONK). The racing league, which has been popular in international markets, has gained popularity in the US thanks to a docuseries on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
Netflix and The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) could also benefit from the movie, with Netflix having the docuseries and Disney's ESPN having U.S. media rights. There have been reports that Apple has also explored acquiring global rights to the racing league in the future.
"F1" ranks well with an A grade on Cinemascore, 7.9 rating on <a href="https://www.imdb.com/title/tt16311594/">IMDb</a>, 83% Tomatometer from <a href="https://www.rottentomatoes.com/m/f1_the_movie">critics </a>on Rotten Tomatoes and a 97% Popcornmeter rating from viewers on Rotten Tomatoes.
Continued excitement and box office success for the film could help Apple and several other companies.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/general/entertainment/24/12/42750888/top-anticipated-2025-movies-for-big-screen-success-and-stocks-investors-should-watch">Top Anticipated 2025 Movies For Big Screen Success And Stocks Investors Should Watch</a></li>
</ul>
Photo: Shutterstock

Entertainment

Sports

Trading Ideas

AAPL

FWONA

FWONK

NFLX

Apple's 'F1' Movie Soars At Box Office, Could Outgross Tech Giant's Previous Theatrical Films Combined

Imax Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) seems to be "on a roll," given that it has among the strongest film pipelines in recent years and has formed closer relationships with studios and top directors, according to Rosenblatt Securities.
The Imax Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/62cd3de0fad12200016941e4/steve-frankel">Analyst Steve Frankel</a> reaffirmed a Buy rating and price target of $35.
The Imax Thesis: Frankel said in the note that the company has "a long runway of growth," given that it is gaining market share due to rising demand for superior experiences. Studios and filmmakers are scheduling their release dates to secure IMAX screens, and exhibitors wish to increase their IMAX footprint.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"A record number of Filmed for IMAX titles is driving over-indexing, setting the stage for the company to outperform our/Street expectations," he further wrote.
There is high visibility into the company's performance, not just for 2025, but for several years to come, the analyst stated. In fact, 2026 could be "even better than 2025, beginning with Avatar: Fire and Ash," he further said.
Imax is likely to generate "at least mid-single digit growth for the foreseeable future," while incremental box office gains go directly to improve profits, "given the fixed cost nature of the business," Frankel wrote.
IMAX Price Action: Shares of Imax had declined by 0.87% to $28.63 at the time of publication on Monday.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/insights/analyst-ratings/25/06/45946624/canaan-stock-a-deep-dive-into-analyst-perspectives-8-ratings">Tom Cruise&#8217;s &#8216;Mission: Impossible – The Final Reckoning&#8217; Smashes China Box Office With $25.6 Million Opening, Sets IMAX Record For Hollywood Films In 2025</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Reiteration

Analyst Ratings

Imax Set For Years Of Growth, But A Blockbuster Sequel Could Ignite 2026

Rosenblatt analyst Steve Frankel maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Buy and maintains $35 price target.

Price Target

Rosenblatt Maintains Buy on Imax, Maintains $35 Price Target

Roth Capital analyst Eric Handler maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Buy and raises the price target from $32 to $36.

Roth Capital Maintains Buy on Imax, Raises Price Target to $36

Buybacks

IMAX Announces $100M Increase To Its Current Share Repurchase Program

Tom Cruise-starrer <a href="https://www.benzinga.com/news/23/10/35388413/hollywood-strike-pushes-mission-impossible-to-2025-paramount-adjusts-release-calendar">high-octane blockbuster</a> "Mission: Impossible – The Final Reckoning" reignited China's box office over the weekend, topping charts and signaling renewed interest in Hollywood imports.
What Happened: Paramount Global's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) "Mission: Impossible – The Final Reckoning" debuted at No. 1 in China from May 30 to June 1, earning 184.5 million yuan ($25.6 million), <a href="https://variety.com/2025/film/news/tom-cruise-mission-impossible-china-box-office-1236415430/">reported</a> Variety, citing Artisan Gateway.
The film's strong performance was bolstered by premium formats, with IMAX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) screenings contributing $4.9 million, making it IMAX's biggest opening for a Hollywood film in China this year.
In second place was the Chinese animated fantasy "Endless Journey of Love," which grossed $7.6 million. The film, set in 1930s China, follows a young woman who gains the power to manipulate time.
See Also:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44862552/ford-recalls-nearly-150000-vehicles-over-brake-and-powertrain-issues-nhtsa" target="_blank" rel="noreferrer noopener">Ford Recalls Nearly 150,000 Vehicles Over Brake And Powertrain Issues: NHTSA</a>
Japan's "Doraemon: Nobita's Art World Tales" debuted third with $7.5 million.
Walt Disney Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) live-action "Lilo &amp; Stitch" slipped to fourth in its second weekend, earning $6.6 million and pushing its total to $17.8 million, the report noted.
Hong Kong action thriller "Behind the Shadows" rounded out the top five with a $4.3 million debut.
Why It's Important: The strong debut of Mission: Impossible marks a notable rebound for Hollywood in China's competitive film market.
MAX CEO Rich Gelfond called the China results encouraging, especially ahead of more Hollywood tentpoles scheduled for release this summer.
Overall, the weekend's box office totaled $58.2 million, reflecting growing momentum.
China's year-to-date box office now stands at $3.82 billion, up 26.6% from the same period in 2024, indicating a healthy recovery in theatrical attendance and international film reception.
Benzinga's Edge Stock Rankings show that Paramount is experiencing a positive price trend across the short, medium, and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">You can explore more detailed metrics here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03052116/Screenshot-2025-06-03-at-2.48.40%E2%80%AFPM.png" alt="" class="wp-image-936310" /></a></figure>
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<li><a href="https://benzinga.com/25/04/44855242/charlie-munger-once-highlighted-how-warren-buffetts-lifelong-learning-made-berkshire-hathaways-success-possible-and-the-crucial-lesson-you-can-take-from-it" target="_blank" rel="noreferrer noopener">Charlie Munger Once Said Warren Buffett Is A ‘Learning Machine' And That's What Lies Beneath Berkshire Hathaway's Success From One Decade To Another</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Featureflash Photo Agency / Shutterstock.com

PARA

PARAA

Tom Cruise's 'Mission: Impossible – The Final Reckoning' Smashes China Box Office With $25.6 Million Opening, Sets IMAX Record For Hollywood Films In 2025

Macquarie analyst Chad Beynon maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Outperform and raises the price target from $30 to $32.

Macquarie Maintains Outperform on Imax, Raises Price Target to $32

Wall Street analysts rerated Imax Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) after its <a href="https://www.benzinga.com/pressreleases/25/04/b44964131/imax-corporation-reports-first-quarter-2025-results" target="_blank" rel="noreferrer noopener">first-quarter results</a> Wednesday. 
Rosenblatt analyst Steve Frankel maintained Imax with a Buy rating and a <a target="_blank" href="https://www.benzinga.com/quote/IMAX/analyst-ratings" rel="noreferrer noopener">$35&nbsp;price target</a> Thursday.
JP Morgan analyst David Karnovsky reiterated a Neutral rating on Imax with a price target of $26 Thursday.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/25/04/44752206/strong-slate-premium-push-fuel-imax-forecast-upgrades-says-analyst" rel="noreferrer noopener">Strong Slate, Premium Push Fuel IMAX Forecast Upgrades, Says Analyst</a>
Rosenblatt: Fueled by the runaway success of Ne Zha 2, Imax reported $86.7 million in revenue (+9.5% Y/Y) and $37.0 million in adjusted EBITDA, well ahead of both Frankel&#8217;s $82.8 million and $26.9 million and the consensus of $84.0 million and $27.4 million. 
The quarter also featured the signing of 95 new screens (and over 100 so far this year), reflecting the industry&#8217;s anticipation of a strong film slate in 2025 and 2026, as well as consumers&#8217; growing preference for premium cinema experiences, especially IMAX.
The second quarter is off to a strong start with A Minecraft Movie and Sinners, where Imax accounted for 18% of the film&#8217;s opening weekend on a global basis. From now until August, every Imax Hollywood release is part of the Filmed for Imax program, which sets the stage for material to over-index and drive the box office upside. Importantly, it is not just about Hollywood. 
This year is set to be a record period for local language films, boosted by Ne Zha 2 and other titles in China, Japan, and India that are expected to perform well. In 2019, local language represented 12% of GBO, rising to 21% in 2023. In the first quarter, the local language was 68%. 
Imax continues to command a growing portion of the market, accounting for 3.5% of the global box office on less than 1% of the screens. In China, the company&#8217;s share hit a record 5.4% in the first quarter, compared to 3.8% the previous year. Domestically, Imax accounted for 3.6% of the market in the first quarter, down from the 4.5% share it had in the previous year&#8217;s Dune 2.
Frankel projected second-quarter revenue of $83.95 million and adjusted EPS of $0.19.
JP Morgan: Imax shares were up ~5% post-market close after reporting first-quarter results. Revenue and adjusted EBITDA were $87 million and $37 million, compared to JP Morgan estimates of $85 million and $32 million. Content Solutions&#8217; gross profit was a beat on margin, with management citing the greater contribution of local China content and a more efficient marketing strategy in the region that leveraged social channels.
At Tech Products and Services, STL/ hybrid installs of 13 compared to the 5 Karnovsky modeled and helped drive a beat on gross margin. Free cash flow in the first quarter, net of growth capex, was -$7 million, an improvement from -$18 million in the year prior. 
Imax disclosed system signings of 95 in the first quarter, with the increase Y/Y partly reflective of a recently <a href="https://www.benzinga.com/news/contracts/25/04/44603254/amc-expands-premium-movie-experience-with-imax-laser-upgrades-in-landmark-deal" target="_blank" rel="noreferrer noopener">announced agreement with</a> AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>). First-quarter box office indexing was reported at 3.5% globally and 5.4% for China, a record. Karnovsky estimates that the US was at 3.6% (down from 5.9% in the first quarter of 2024, which featured Dune 2).
The company maintained guidance for 2025. Management did state that the results were tracking ahead of expectations, and a reiteration of the outlook after only a quarter was not a surprise. On the topic of China, CEO Richard Gelfond commented that a &#8216;moderate&#8217; reduction in film imports would target movies with limited box office potential, not the kind the company distributes. 
Karnovsky noted the wording of the China Film Administration&#8217;s recent announcement, which stated that it would consider market demand in its decision-making. Management also asserted there had been no reduction in activity among Chinese exhibitors and their interest in Imax, but rather that this had increased on the back of Ne Zha. 
Overall, Karnovsky is incrementally positive following the solid print and commentary on China, which should ease investor concerns to a degree, even as the analyst expects some near-term risk to persist, given the volatility of the situation.
Karnovsky projected second-quarter revenue of $90 million and adjusted EPS of $0.05.
Price Action: IMAX stock is down 2.66% at $23.46 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/04/44978343/comcast-hit-hard-by-subscriber-exodus-nearly-630000-customers-gone-in-q1" target="_blank" rel="noreferrer noopener">Comcast Hit Hard By Subscriber Exodus, Nearly 630,000 Customers Gone In Q1</a></li>
</ul>
Photo: Shutterstock

Earnings

Imax Wins Analyst Praise On Strong Film Slate, But China Market Volatility Raises Concerns

Wells Fargo analyst Omar Mejias maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Overweight and lowers the price target from $32 to $30.

Wells Fargo Maintains Overweight on Imax, Lowers Price Target to $30

Barrington Research analyst Patrick Sholl maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Outperform and maintains $32 price target.

Barrington Research Maintains Outperform on Imax, Maintains $32 Price Target

Earnings Beats

Earnings Misses

Imax Q1 Adj. EPS $0.13 Misses $0.16 Estimate, Sales $86.70M Beat $84.22M Estimate

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Earnings Scheduled For April 23, 2025

Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) is set to give its latest quarterly earnings report on Wednesday, 2025-04-23. Here's what investors need to know before the announcement.
Analysts estimate that Imax will report an earnings per share (EPS) of $0.15. 
The announcement from Imax is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
During the last quarter, the company reported an EPS missed by $0.04, leading to a 1.07% drop in the share price on the subsequent day.
Here's a look at Imax's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.31</td>
<td>0.23</td>
<td>0.07</td>
<td>0.10</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.27</td>
<td>0.35</td>
<td>0.18</td>
<td>0.15</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>12.0%</td>
<td>4.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745352155_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Imax were trading at $22.34 as of April 21. Over the last 52-week period, shares are up 32.84%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/IMAX/earnings">To track all earnings releases for Imax visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Imax's Earnings

JP Morgan analyst David Karnovsky maintains Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Neutral and lowers the price target from $27 to $26.

JP Morgan Maintains Neutral on Imax, Lowers Price Target to $26

China announced on Thursday it would immediately restrict Hollywood film imports in retaliation for President Donald Trump&#8216;s tariff increases on Chinese goods, targeting a high-profile American export as trade tensions intensify.
What Happened: A spokesperson for the National Film Administration said, &#8220;The wrong move by the U.S. government to abuse tariffs on China will inevitably further reduce the domestic audience&#8217;s favorability towards American films. We will follow market rules, respect the audience&#8217;s choice, and moderately reduce the number of American films imported.&#8221;&nbsp;
The move could significantly impact major U.S. studios and entertainment companies with Chinese market exposure.
IMAX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) faces particular <a href="https://in.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted">exposure with 23% of its revenue derived from China</a>, where 45% of all IMAX screens are located. Despite this, the company recently reported strong performance in China during 2025&#8217;s first quarter, driven primarily by the domestic blockbuster &#8220;Ne Zha 2.&#8221;
&#8220;IMAX is benefiting from a blockbuster-heavy 2025-2026 slate and tighter cost control, especially in China,&#8221; noted Rosenblatt Securities analyst Steve Frankel, who maintains a &#8220;Buy&#8221; rating on the stock.
See Also: US Stock Futures Fall, Nikkei Crashes Over 5% As Markets Reel From Trump&#8217;s Tariff Shock
Why It Matters: Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Warner Bros Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) also face potential impacts. Disney&#8217;s Marvel superhero movie &#8220;Thunderbolts&#8221; secured permission to debut in China on Apr. 30, but the fate of other summer blockbusters remains uncertain. WBD&#8217;s stock has already fallen 21.80% over the last month amid these concerns.
The restrictions follow Beijing&#8217;s broader retaliation against Washington&#8217;s tariff hikes, which includes increasing its <a href="https://www.benzinga.com/25/04/44708618/china-retaliates-with-massive-84-tariff-hike-on-us-goods-amid-escalating-trade-war">levies on U.S. goods from 34% to 84%</a> and filing a World Trade Organization complaint.
Two influential Chinese bloggers with Communist Party connections recently suggested China would &#8220;reduce or ban the import of U.S.-made films&#8221; along with restricting American companies from <a href="https://www.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted">government procurement processes</a>.
For U.S. studios, the $600 million earned in China last year represents a small but <a href="https://www.benzinga.com/news/25/04/44717030/whats-going-on-with-warner-bros-discovery-wbd-stock">strategic portion of their global revenue</a>. However, China&#8217;s growing preference for domestic content had already created challenges for Hollywood before these new restrictions.
Read Next:
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<li><a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais" target="_blank" rel="noreferrer noopener">Obama-Era Economist Jason Furman Says Trump Tariffs ‘Now Higher &amp; More Inflationary' Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Markets

Hollywood Becomes Collateral Damage In Trump Tariff War As China Slashes Film Imports, Says US Actions Will Inevitably Reduce 'Favorability' Towards American Films

As tensions persist in the tariff dispute, President Donald Trump brushed off China's decision to limit the screening of American films.
What Happened: The China Film Administration confirmed on April 10 that it would be reducing U.S. film imports, as reported by <a href="https://variety.com/2025/film/news/donald-trump-laughs-china-hollywood-movies-1236366364/">Variety</a> on Thursday. This decision is a response to Trump&#8217;s recent tariff increases on Chinese goods to 125%.
Trump, when questioned about China&#8217;s decision, responded with a laugh, saying, &#8220;I think I&#8217;ve heard of worse things.&#8221;
The China Film Administration stated that the U.S. government&#8217;s &#8220;wrong action&#8221; to impose high tariffs on China would &#8220;inevitably further reduce the domestic&nbsp;audience's favorability towards American films.&#8221; The administration plans to &#8220;follow the market rules, respect&nbsp;the audience's choice, and moderately&nbsp;reduce the number of American&nbsp;films imported.&#8221;
See Also:&nbsp;<a href="https://benzinga.com/news/global/25/04/44754763/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batter" target="_blank" rel="noreferrer noopener">Obama-Era Treasury Secretary Larry Summers Rejects China &#8216;Cheating&#8217; At Trade Narrative: We Get EV Batteries For &#8216;Pieces Of Paper&#8217; — It&#8217;s A Good Deal</a>
Why It Matters: The U.S. and China have been embroiled in a trade war, with Trump recently increasing tariffs on Chinese goods to 125%. In retaliation, <a href="https://benzinga.com/25/04/44708618/china-retaliates-with-massive-84-tariff-hike-on-us-goods-amid-escalating-trade-war">China has raised its tariffs</a> on U.S. goods to 84%. 
Hollywood films earned just under $600 million in China's $17.7 billion box office in 2024, a sharp contrast to the $8.6 billion generated across U.S. and Canadian theaters during the same period. 
Stocks like Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) are expected to draw attention due to their globally recognized intellectual property and a history of multi-million dollar blockbusters. Disney also operates a substantial merchandising and theme park business in China, which may face significant headwinds. Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) is also exposed, with numerous international licensing agreements in China that could be at risk. However, IMAX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) may feel the biggest impact, as it generates 23% of its revenue from China — home to 45% of all IMAX screens.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44745800/millionaire-trader-rakes-in-1-million-on-the-meme-coin-thats-outpacing-dogecoin-shiba-inu" target="_blank" rel="noreferrer noopener">Millionaire Trader Rakes In $1 Million On The Meme Coin That&#8217;s Outpacing Dogecoin, Shiba Inu &#8211; Benzinga</a>
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General

Trump Shrugs Off China's Cutback On US Films Amid Ongoing Tariff Tensions: 'I've Heard Of Worse Things'

Rosenblatt Securities analyst Steve Frankel <a href="https://www.benzinga.com/quote/IMAX/analyst-ratings" target="_blank" rel="noopener">reiterated a Buy rating</a> on the shares of IMAX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) on Wednesday, with a price forecast of $35.00.
Ahead of IMAX&#8217;s upcoming first-quarter earnings report, the analyst has raised the forecasts to better align with consensus, citing strong box office performance. 
Despite concerns about potential <a href="https://www.benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted" target="_blank" rel="noopener">Chinese restrictions on Hollywood films</a>, IMAX&#8217;s first-quarter global box office hit $280 million, far surpassing previous projections of $230 million. This was thanks to the massive success of Ne Zha 2, which grossed $2.145 billion globally, with $2.09 billion from China alone.
The film generated $162.6 million for IMAX, ranking among the company's top six highest-grossing titles and top three by ticket admissions.
Regionally, first-quarter box office figures showed a mixed picture: North America declined 46% year over year to $51 million, while Greater China surged 135% to $167 million. The rest of the world dropped 35% to $62 million.
Reflecting these results, the first-quarter earnings estimates are revised up to $82.7 million in revenue and $24.3 million in earnings, approaching the consensus of $83.5 million and $28.5 million. The updated full-year estimates of $420.0 million/$164.1 million compare to a consensus of $405.9 million/$156.3 million.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44703031/this-beverage-maker-tobacco-company-and-packaged-food-giant-outshine-in-a-recession">This Beverage Maker, Tobacco Company And Packaged Food Giant Outshine In A Recession</a>
IMAX shares declined earlier in the week following reports suggesting China might limit Hollywood film imports amid ongoing trade tensions. However, there has been no official confirmation or coverage from major Chinese media outlets.
Given the importance of moviegoing to China's broader economic sectors, such as retail and real estate, the analyst doubts the government would take actions that could harm the exhibition industry.
If China limits Hollywood film imports, IMAX can pivot by showcasing more domestic films and proven alternatives like Japanese anime, which have performed well in the market. 
The second quarter has started strong, with A Minecraft Movie surpassing expectations globally, noted Frankel.
With six Filmed for IMAX titles scheduled this quarter, including Thunderbolts and Mission Impossible: The Final Reckoning, the company is positioned for potential upside beyond its $265 million global box office estimate.
The shift toward premium movie formats is also boosting IMAX's business. The company revealed key expansion deals, including <a href="https://www.benzinga.com/news/contracts/25/04/44603254/amc-expands-premium-movie-experience-with-imax-laser-upgrades-in-landmark-deal">AMC's plan to install 12 new IMAX with Laser screens</a> and upgrade 68 existing ones.
IMAX recently expanded its partnership with TOHO Cinemas, adding six new IMAX with Laser locations in Japan, one of IMAX's strongest markets by per-screen revenue. This includes the first dual-IMAX complex outside North America, reflecting growing demand for diverse content.
Frankel observed that IMAX is benefiting from a blockbuster-heavy 2025–2026 slate, tighter cost control (especially in China), and stronger partnerships with studios and streamers.
Price Action: IMAX shares traded lower by 4.51% at $22.43 at last check Thursday. 
Read Next: <a href="https://www.benzinga.com/25/04/44734345/why-home-furnishing-brand-lovesacs-stock-is-surging-today">Why Is Home Furnishing Brand Lovesac&#8217;s Stock Surging Today?</a>
Photo: Shutterstock

Strong Slate, Premium Push Fuel IMAX Forecast Upgrades, Says Analyst

Benchmark analyst Mike Hickey reiterates Imax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>) with a Buy and maintains $30 price target.

Benchmark Reiterates Buy on Imax, Maintains $30 Price Target

As Washington doubles down on its trade war with China, and tariffs <a href="https://benzinga.com/markets/equities/25/04/44704005/trumps-104-tariff-on-chinese-imports-sends-stock-futures-plunging-dow-falls-over-500-points">now going as high as 104%</a>, some leading experts believe that the Middle Kingdom might have an ace up its sleeve, that could hit the United States where it hurts most—Services.
A vast majority of U.S. imports from China are tangible goods, whereas its exports to the country largely comprise services, and this includes tech solutions, consulting services, law firms, and even Hollywood movies, among others. China, in fact, runs a $32 billion deficit with the U.S. on services.
What Happened: Two widely followed bloggers in China with connections within the Chinese Communist Party have released a seemingly identical list of measures that the country is planning in retaliation against the tariffs imposed by the Trump Administration, <a href="https://www.bloomberg.com/news/articles/2025-04-08/influential-china-bloggers-post-options-to-hit-back-at-trump">reported</a> Bloomberg.
Among the list of measures shared by Ren Yi, the grandson of a former Guangdong province Communist Party chief, and Liu Hong, a senior journalist at Xinhua, the state-run news agency, includes a plan to &#8220;reduce or ban the import of U.S.-made films.&#8221;
See More: <a href="https://www.benzinga.com/news/global/25/04/44705797/high-stakes-high-yields-investors-puzzled-with-us-treasuries-defiant-run-amid-market-turmoil">US Treasuries Defiant Run Amid Trump Tariff Turmoil Puzzles Investors— Hedge Funds Selling Or China Dumping?</a>
Besides this, China plans to target the U.S. services sector in several other ways, such as restricting American companies from taking part in Chinese government procurement processes and limiting the cooperation between Chinese companies and U.S. law firms and consultancies.
Why It Matters: In China&#8217;s $17.7 billion box office, Hollywood movies managed to gross a little under $600 million in 2024, while the total U.S. and Canadian box office numbers during the same period stood at $8.6 billion. So, the move is expected to have a sizable impact on the industry.
Stocks like Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) will be in focus considering its globalized IP, with <a href="https://www.matthewball.co/all/china-marvel-and-the-uncertain-future-of-the-global-franchise">several multi-million dollar hits</a> over the years. It also has a sizable merchandising and theme park business in China, which will be impacted. Warner Bros Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) is next in line, with several international licensing deals in the country that could be cut short.
However, the hardest hit could be IMAX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>), which derives 23% of its revenue from China, where 45% of all <a href="https://thebambooworks.com/imax-china-roars-into-year-of-the-snake-after-weak-performance-in-2024/">IMAX screens</a> are located.
Several other companies provide software, consulting, and related services in the Mainland, such as Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) partnering with Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to <a href="https://www.theregister.com/2023/11/06/asia_in_brief/">offer services</a> in the country, however, given the opaqueness of the nation&#8217;s financial markets, and the kind of barriers imposed, there isn&#8217;t a lot of clarity on the kind of impact a tariff on services would have. 
Read More: <a href="https://www.benzinga.com/news/global/25/04/44706519/apple-stock-nosediving-since-liberation-day-tariffs-has-created-panic-says-gene-munster-predicts-tim-cooks-favorable-relationship-with-trump-xi-jinping-will-rescue-iphone-maker">Apple Stock Nosediving Since &#8216;Liberation Day&#8217; Tariffs Created Panic, Says Gene Munster: Predicts Tim Cook&#8217;s &#8216;Favorable&#8217; Relationship With Trump, Xi Jinping Will Rescue iPhone-Maker</a>
Photo: Shutterstock

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China May Hit US Where It Hurts Amid Trump's Tariff War — Services Trade In Crosshairs, With Walt Disney, IMAX And Warner Bros. Discovery In Focus

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IMAX Corporation Reports First Quarter 2025 Results

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IMAX To Present at the J.P. Morgan Global Technology, Media, and Communications Conference

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