Imax Revenue Grows But Posts Overall Loss In Third-Quarter
Imax kept up its pandemic-era box office recovery in the third quarter, despite a lull in the Hollywood movie pipeline. Overall revenue at the giant screen exhibitor came to $68.8 million, up 21 percent from a year-earlier $56.6 million, as Imax was impacted by partial COVID-related theater shutdowns in China. And Imax recorded a loss of $9 million, which widened a year-earlier loss of $8.4 million. Read more The Hollywood Reporter
TikTok Owner Loses China’s Largest USD4.4 Million Video IP Case to Tencent
ByteDance, the parent of TikTok, has lost China’s biggest online film and television copyright case of more than CNY32.4 million (USD4.4 million) to Tencent Holdings’ video streaming arm. Tencent suffered financial losses of CNY32 million in total or CNY2 million (USD275,118) per episode, the court said. Moreover, Douyin must cover Tencent’s legal fees of over CNY420,000 (USD58,132). Read more Yicai Global
