Despite a softer-than-expected second quarter, IMAX screens should still reach the full-year expectation of $1.1 billion in the global box office, Mejias said.
That's driven in part by the strength of "Oppenheimer," which drove consumers to IMAX screens over the weekend.
The pairing, which included Warner Bros. "Barbie," helped drive the fourth highest grossing box office weekend ever, according to Comscore.
With the Chinese box office activity returning, the company could reach pre-pandemic business levels by 2024, Mejias said.
"We believe the continued over-indexing of IMAX screens in the post-pandemic moviegoing environment provides evidence of a structural improvement of consumer demand toward the format."
Persons:
Oppenheimer, Wells Fargo, Omar Mejias, Mejias, That's, Barbie, Napoleon, Richard Gelfond, Taylor, Riley, Eric World, Wold, — CNBC's Michael Bloom, Thomas Rotunno, Sarah Whitten
Organizations:
Universal, Warner Bros, Comcast, CNBC
Locations:
Monday's