Ahead of next weekend's launch of Lightyear, Imax Corp (NYSE:IMAX) posted another series of vital data points, driven by the opening weekend of Jurassic World: Dominion Rosenblatt analyst Steve Frankel pointed out.
Frankel had a Buy on Imax with a price target of $25. Imax accounted for 8.6% of Dominion's domestic box office for $12.3 million in Gross Box Office (GBO) and a $30K PSA, Frankel noted.
Frankel added that international markets added another $12.7 million in GBO for a 7.2% share, including 12% of the film's box office in China. To date, the IMAX GBO from Top Gun exceeds $75 million.
With an opening weekend of $143.37 million, Jurassic World: Dominion dominated the box office and finished ahead of recent industry tracking that had the film opening around $125 million, just 3% shy of the previous film in the series, a notable feat given the film's poor reviews, Frankel added.
Continuing the trend toward premium viewing experiences, PLFs accounted for 35% of the film's total box office. Meanwhile, Top Gun: Maverick lost some altitude but finished in second place at $50 million, bringing its domestic total to $393.3 million.
Jurassic World added $176.6 million in international markets, including $52.5 million in China, where Hollywood titles have been scarce. Jurassic World has driven $245.8 million at the global box office.
Top Gun added another $52.7 million to bring its international total to $353.7 million for $747 million at the global box office,
Price Action: IMAX shares traded lower by 6.29% at $15.27 on the last check Monday.
Photo via Wikimedia Commons
