IMAX CEO says movie business back to pre-pandemic levels in China
Richard Gelfond discusses the road back from the coronavirus pandemic for the film industry.
The coronavirus pandemic clobbered the film industry, restricting people from congregating in theaters, but IMAX CEO Richard Gelfond told FOX Business in an exclusive interview Tuesday that business has practically returned to normal in Asia.
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“Things have returned much faster than normal,” Gelfond told “The Claman Countdown.” “So in Asia in general, but China specifically, people are going to restaurants, they’re not wearing masks, and the movie business is really good.”
During the third quarter of 2020, Gelfond said IMAX was 100% recovered compared to 2019 and fourth-quarter earnings, even without Hollywood films, reached 75% recovery.
Warner Brothers' new “Wonder Woman 1984” film, set to hit American theaters Christmas Day, debuted worldwide this past weekend. According to Deadline, the superhero saga earned $5 million in IMAX showings, with $3.8 million coming from China’s 680 screens.
'WONDER WOMAN 1984' EARNS $38.5 MILLION OVERSEAS AT BOX OFFICE