IMAX has posted their fourth quarter profits and have set a record. The results seemed to have been boosted by strong box office performances from Gravity The Hobbit: The Desolation of Smaug and Stallingrad.
The total fourth quarter profits for IMAX totaled $27.8 million, which is almost double the $12.8 million that was made last year, The Hollywood Reporter added.
IMAX earned $244 million worldwide during the fourth quarter, which was its highest box office quarter yet globally. If the numbers are broken down that means that each screen averaged $366,300 during the fourth quarter.
Films like Gravity and The Hobbit: The Desolation of Smaug had been promoted for their strong visuals and word of mouth spread about seeing these films on the big IMAX screens. Gravity was even re-released to IMAX screens following the Oscar nominations.
The large format screen did have a few slight stumbles along the way to profitability, Lionsgate's Ender's Game did not bring in the numbers that either company had hoped, Variety reported.
image: Warner Bros