The US box office experienced its worst Memorial Day weekend since 1995, raising concerns about the factors impacting the industry. Chad Beynon, Macquarie's Senior Analyst of Gaming, Lodging, and Leisure, joins Asking for a Trend to shed light on this significant downturn.
Joining us now to discuss the outlook for theaters is Chad Bynon mcquary, senior analyst, gaming, lodging and leisure chat.Chad not off to a great start here.Um As you just illustrated, it was a tough weekend.You see about 20 million people who go out over the three or four day uh period in, in this year we saw, you know, somewhere between 10 and 12 million.
I'm just curious, you know, I know you don't cover the names, but even just generally speaking, Chad does, uh does this kind of performance, does it put that much more pressure on Disney's and universals in terms of what they have coming?You know, the past couple of years we've been excited to see more diversification from the studios, right?
The big winner, relative winner is IMAX this weekend, for instance, they did 20% of furioso admission revenues and they have about 2% of the screens uh in the United States.So you would say chad, just for viewers, for investors who are lets right out.They generate about a third of their um profits in North America, a third in China and then a third in the rest of the world.The second reason is they have a backlog uh similar to what we see with the hotel companies.