Imax's CEO On Accelerating Box Office Sales, AMC Entertainment Valuation

Walt Disney Co's (NYSE: DIS) "Black Widow" brought in $80 million in its first weekend, making it the biggest opening weekend for a movie since the COVID-19 pandemic began. 

The three big blockbuster movies that have been released during the reopening are showing a clear pattern of accelerated ticket sales growth, Imax Corp (NYSE: IMAX) CEO Richard Gelfond said Monday on CNBC's "Squawk Box."

"A Quiet Place Part II" brought in close to $60 million, "F9" did about $70 million and "Black Widow" came in at $80 million, so the pattern seems predictable, Gelfond said. 

See Also: Disney's 'Black Widow' Muscles Universal's 'F9' Aside In US Box Office

Andrew Ross Sorkin asked Gelfond about his thoughts on the valuation of competitor AMC Entertainment Holdings Inc (NYSE: AMC).

"So to be clear, AMC is our partner, not our competitor," Gelfond responded.

AMC Entertainment's valuation is driven by its fan base, and the fan base loves AMC Entertainment CEO Adam Aron, Gelfond told CNBC. As a partner of the company, AMC's recent valuation surge has been good for Imax, he said. 

IMAX Price Action: Imax has traded as high as $25.05 and as low as $10.50 over a 52-week period.

At last check Monday, the stock was down 2.6% at $19.32. 

Photo: Andrew E. Larsen from Flickr.