With the new 3-D movies such as Avatar, directed by James Cameron, IMAX looks to break new records. Once a Canadian company, IMAX has struggled for years to make profits and interest investors. Over the past three years IMAX lost money every single year, but since last August things changed dramatically. IMAX reported net income of $2.6 million in August 2009, compared to a net loss of $12.2 million in 2008. Total revenues increased 94% to $41.0 million, compared to total revenues of $21.2 million last year.Countries such as China are starting to invest in IMAX. Huayi Brothers Media Group, the largest movie studio in China just reached an agreement to include studios overseas. These agreements will open the door to IMAX of a new business opportunities, IMAX will become an even more active participant on the movie production.
IMAX also has another card up its sleeve: Michael Jackson's "THIS IS IT". This movie will be a huge money maker. We will have to wait and see what IMAX really has to show.
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