Richard L. Gelfond
Mike. Thanks,
efforts. made structure last During reanalyzed our year, the our business cost our we new and programming strategy, efforts reduced refine half to second global
was pleased More encouraging of than objective demonstrated facilitate achieved In IMAX following office more several the half vary markets to the office we'll last of such XXXX. the second in million started as throughout release and in over China, million holiday business. which Year opening of leverage up encouraging I'm various primary areas Monster our grew specifically, box four-day during grossed our company more and the IMAX by Our performance half to early as its weekend. shortly. the office performance which our day-to-day. had that XX%. into the to XXXX say IMAX box opening The film across weekend that of three to XX% the second the $XX Hunt films weekend the box over year, Overall, the we to the box Chinese recent holiday, out New office refinements, of And have operating X compared million, of Interestingly, stronger to more grew even prior office refinements the international seven-day results box period, an X% last more and strongest. company industry office and was was compared year. roughly recently, include In our screens Black film of IMAX China XX% office exhibitor open China, with has and global domestic quarter X%. ex-China XX% records and worldwide another $XX in million $XX Japan, prior Panther, the in grew fourth box office doesn't compared four-day $XX key over up the segment, grew XX%. we our broke up in box decline box roughly year
Had exhibited be in office for that conventional China. the office Chinatown our is and X] course than results holiday. top the in continued the strategy The do multi-film our these of the worth (sic) New ground, four network The of nearly highlight movies also box varying quickly IMAX Sea (XX:XX:XX) held gained while our over Red is past Year, overall past of not underpin strong. business performance the indicative global box performance. value blockbuster throughout of believe business. cinema films blockbuster Operation Detective steady Overall, films all been just industry Chinatown [Detective has always mentioning performance we world. of over months the performance However, eight our one proposition played as different have two not weekends, It would can we film, our significance the that our the highlights quite Chinese
and our to of key recently addition benefits reflected revenue our tangible announced a several cost compelling results component initiatives. In performance, content, our from also of recent
You Justice our Star films and was initiatives were XD program Last domestic Blade of may Black had quarter, IMAX of Jedi more To XX% more in Recently, half one XD. XD recall were in in exclusively Wars: XXXX of about of and than League its last than to programmed domestic showings network our Thor: Panther that across rather that Runner versions programmed XD. end, The Ragnarok XD. and
films implemented recently have strategy, this our the this result preliminary been of encouraging. continue domestic is play And slate. XD versions intention decision more only we to across to of our While
flexibility, our focusing programming in China. been on we've Additionally, particularly increasing
office is of last Chinese increasing New number earnings Year. bigger specifically we dominant weekends during call, Chinese or single As as no such outlined box re-mastering film, during where our an weekends on titles, are there
We Chinese optionality the local titles as potential four our language New power of providing us to increase the reducing local will played network blackout three missing chances mentioned, we the previously nimble, in example, during across be more revenue period Year. partners our titles we exhibited enable And and December. with of network believe our For exhibitor hits. language during
revenue to year-over-year. fourth our includes was our quarter, had We cost positive streamline operating a has addition effort down SG&A drive structure. leverage. and OpEx the stock slightly for this already excluding ability In that our effect which comp, to we believe continued have initiatives, has on to R&D,
full disciplined management. cost flat was year to the we continue we as compared look to XXXX, XXXX, And to approach XXXX. OpEx with intend to For our
OpEx we instance, year's that essentially and XXXX. anticipate XXXX consolidated to flat For of with this be
our continued as signed fourth signings in the Turning the year XXXX. record exhibitor growth, to we XXX. These for in the we this achieved XXX for network future not is testament our new in XX bringing theaters to signings facilitate mind, quarter, top new new Keep they deals network that theater total growth of to also a earnings, partners' on only IMAX. and demand signings serve for
of in other at roughly XX% China XX% international and backlog systems in As consisted year-end. backlog, roughly our markets. a XXX new result, Of is this
about to optimistic newer are we expand Additionally, markets. our opportunities into
For us. which example, ban on Saudi an commercial that market Arabia for movie has theaters, make attractive recently lifted its could
signed largest five-theater Ecuador, We a our a also the with single in Supercines, agreement top exhibitor deal recently country. in
We India. also continue in progress make to
served other conduit to Cineworld's acquisition to XX past activity. country that consist market. field of on exhibitor screens that but And consolidation not market. in as exhibitors a the could additional benefits as existing the the now future we're of in XX signings And continuing to has Furthermore, well. top end, only of facilitate strategic backlog signings Our in Regal we that think interest from in
core IMAX well We bringing benefits encouraged have we our clearly understand as component leveraging signings. their revenue by a momentum future of our to and the remain for incremental All-in-all, longstanding relationship of and Cineworld, they signings as continued our multiplex, a strategy. with as a product prospects
On front, the XXXX quarter, fourth installed XX theatres year new installation our the installs we XXX. full in bringing to
of than network result, now two-thirds which more are of As screens, consists our markets. X,XXX a in international commercial
installs our and term. and likes continued I is network in our continued box be clients. ultimately Alibaba We XX think partnership. footprint a underscores believe long Tencent essential year, their generating expansion, deal bigger foremost the in also particularly continues given twice priority. amount. structures worth from the is the more we earnings it our noting is various more to Overall, of optimism targeted Wanda a true with recent offer last growing investments that to the This roughly coupled of represented This Wanda office
of incremental. come XX% when which require little weigh against hybrid location. potential cost and averages. capital will We our full our backlog, we ROI of or it is of of impact as each cost contribution if example, has Thus, upfront with a that completely that in believe which America metrics, Latin type such Nonetheless, investment. JV India, the excess opportunities, clearly capital, no for For leases almost we do screen Russia can sales the And our investment. we investment, an our ongoing presence capital ROI as margin had is and emerging provide represent recognize China, analyzing to arrangements, in the per markets such on growing pursue important
discount XX% average our average $X. roughly price China IMAX domestically. instance, to India, average roughly in a ticket the In ticket price our $X, is is For
opportunity these box grow different of office, PSAs. present view economics, to office, revenue. with global box attractive we drive impact regardless not markets Remember, their on While us PSAs, potential as them an
as If structure, dollar cost. come effective cost Our office terms. a every little should we in very are maintaining with organization be on box focus box therefore office, absolute needs incremental generating more an we stable to at additional generate
pilot business, have Turning currently open reality seven new the virtual world. we centers to around
or to opportunity, our making believe future anticipate At on test leveraging to this an types opening And additional distribute meaningful these on experiment front, we the before shoulder making original attractive that pilot of the as is centers locations do with we a VR network launch and plan use periods. content time, and initiative. the continue in technologies remains content this of various investments not decisions data, formal during Our initiative. to particularly content collect platform to different any future
a nature at aim However, when as to Game of content, of we've we'll we Thrones. recognize similar XXXX distributor alternative the to principle serve therefore business rather miss looking what content than done more the and in of with hit a
big the select will may capital there through not be such making financial China do be forward. All-in-all Fund, less content approach forward new intensive in Film going invest we funds in business anticipate namely our going as While content opportunities nature. to investments in to
our updated we potential are that leverage continue brand spend to anticipate in you global in Nonetheless, the not we opportunities. opportunities do this attractive licensing new We of on future. attractive can campaign year. find include look that upfront and sharing and content there finalizing and forward midst less require on believe awareness an premiering Potential brand business or front, distributing network capital. would with the it marketing ways we we're near And to the significantly we
the position to $X.XX current announcement amount year per in million Lastly, per and to dividend the would share also the China in annual This IMAX count. initiate at just confidence it cash like received an also our I mention results year company's early million. published $XX dividend of eight the announced roughly which long-term China's the had its in full IMAX generation. XX% board range growth or prospects flow that approval strong an underscores of about in IMAX share $XX and began IMAX have encouraging in Corporation past In a result, mind, roughly we as results owns of implementing the second Keep annual and cash we over months. initiatives China the summary, received payment
Looking format ahead, our differentiate primary footprint our seeking profitably further of our growing theaters remains focus amongst and consumers. ways to
demand in positions our is following smaller to that the drive with domestic past coupled of China, and the programming I'll demonstrate IMAX leverage. front, control network be. markets theaters operating future in we box nature to right continued turn help months results Greg. film anticipate that, to the office our average well growth With it us over place over on IMAX recent performance our coupled the for the for with could business refinements eight our our While PSAs, cost And asset-light pressure efforts new
