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IMAX Outlines Its Coronavirus Damages

The big-screen technology expert was on a roll when the virus came along to paralyze booming growth trends in IMAX’s largest market. Entertainment technology veteran IMAX (NYSE:IMAX) reported fourth-quarter results on Wednesday. The company smashed Wall Street’s estimates across the board, bracing for a large business impact from the coronavirus outbreak in China. IMAX recorded $1.11 billion in global box office receipts in fiscal year 2019, a 7% increase over the reading in 2018. Management had expected “low double-digit” growth for this important metric. After installing 56 net new multiplex theaters during the fourth quarter,…

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A visitor inquiring about products at Cinema Build KSA 2020 exhibition in Riyadh. (AN Photo/Yazeed Alsamrani)

Cinema growth to boost Saudi Arabia entertainment sector

RIYADH: Developing the cinema sector in Saudi Arabia will enhance the quality of life of individuals and families, the opening day of the Cinema Build KSA 2020 forum in Riyadh heard on Wednesday. The two-day forum is being organised by the Eyes of Cities in association with the Great Minds Group and supported by the Quality of Life Program as one of the Saudi Vision 2030 realisation initiatives. The Quality of Life Vision Realization Program aims to improve individuals’ lifestyles by developing an ecosystem to support and create new options…

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Silver Screen cinema, Belarus

EBRD supports Belarussian chain to ‘reinvent’ cinema experience

Not every cinema in Belarus can boast having authentic American popcorn, Danish snacks, and Finnish candy, but Belarus’s Silver Screen is no ordinary cinema. Silver Screen is a network of cinemas in the country which is reinventing the big screen experience. It launched six years ago when its founders found a niche that could be filled in the local market – back then all cinemas were state managed by one operator. This of course, influenced the pricing and quality of service but, most importantly, the user experience. Ilona Tkacheva, Finance Director of Silver Screen…

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