IMAX stock surged over 44% in 2025, generating a record $1.28 billion at the global box office, a 40% increase from 2024. Meanwhile, AMC, Cinemark, and Marcus Theatres saw significant stock declines due to industry changes. Domestic ticket sales are still 25% below the 2018 record of $11.8 billion.

IMAX benefits from premium large format experiences, with 16% of domestic tickets sold for these theaters in 2025. Hollywood’s shift towards big-budget blockbusters makes PLF screens increasingly important. IMAX’s 2026 slate includes major films shot with IMAX cameras, projecting a record $1.4 billion global box office haul.

AMC, Cinemark, and Marcus have invested in premium large format theaters but are playing catchup to IMAX. IMAX’s asset-light model minimizes costs, while theater operators face financial burdens from rent and utility payments. IMAX’s profitability in 2025 contrasts with cinema stocks’ net losses in the first quarter, highlighting the industry’s challenges.

Read more at CNBC: IMAX stock crushed the theater sector in 2025