Latest news with #RichGelfond
New York Times
23-05-2025
- Entertainment
- New York Times
Why Is IMAX Suddenly Everywhere?
Tom Cruise had a major request. He wanted IMAX to show his latest 'Mission: Impossible' movie — and only his movie — on its giant screens for three weeks. It is the kind of exclusive run that few films get. So Mr. Cruise went straight to the top. He reached out to IMAX's chief executive, Rich Gelfond, who had some requests of his own. He wanted all the 'Mission: Impossible' premieres, along with press screenings and influencer screenings, to be held at an IMAX theater. And he wanted Mr. Cruise to endorse the company's screens during his global press tour for the film, which opens this weekend. 'As a joke I said, 'Tom, no matter what question the press asks you, you've got to answer IMAX.' 'What's your favorite scene?' 'IMAX,'' Mr. Gelfond, 69, said in an interview. 'He agreed to do that.' In order to get something from IMAX these days, even Hollywood's top power players have to give some, too. As movie theater audiences wane and at-home streaming audiences grow, IMAX increasingly stands out as a bright spot in the theater business. The company, founded in Toronto, aims to give moviegoers a more immersive experience with larger screens, better sound and steeper seating, which brings viewers closer to the screen. It now has 416 locations in North America and 1,322 overseas. That is only 1 percent of all the screens in the world, but they often account for a larger percentage of a movie's box office return, drawing significant crowds for a more expensive ticket than a typical theater seat. In the past two months, IMAX screens delivered $39 million to the global box office for 'Sinners' (out of $321 million total), $30.6 million for 'A Minecraft Movie' ($930.1 million total) and $30.5 million for 'Thunderbolts*' ($330 million total). ('Thunderbolts*' and 'Minecraft' each played in IMAX theaters for two weeks. 'Sinners' was brought back to nine locations for a third week.) As a result, Hollywood studios are putting more emphasis on the IMAX brand, even making the IMAX logo in larger type than the title of the movie in some marketing materials. Disney started this last year with 'Kingdom of the Planet of the Apes' and 'Alien: Romulus.' For 'The Amateur,' a small action movie made by 20th Century Studios this year, the tagline 'Vengeance is bigger in IMAX' appeared larger than the movie title. Marvel's 'Thunderbolts*' received similar treatment. 'For some of these movies that have a franchise history — and are also available at home — the IMAX brand can help speak to the big-screen-worthiness of a film and the spectacle,' said Asad Ayaz, the president of marketing at Disney, which owns Marvel and 20th Century Studios. 'It differentiates it from streaming, which is also a big business for us, so it can be helpful.' Yet not everyone in the movie business is thrilled with IMAX's ascension. Some worry that its limited number of screens, and higher prices for admission, could turn moviegoing from a frequent activity into a luxury experience that further reduces overall attendance. 'It's great to be able to provide premium experiences to people who want it,' said Greg Marcus, chief executive of the company that operates Marcus Theaters, the fourth-largest chain in the country, but with only three IMAX screens. 'But 80 to 85 percent of our business is coming from traditional theaters. And so you have to be very careful to not put down the traditional experience in promoting the other.' Complicating matters further, most theater chains have their own large-format screens. Regal Cinemas has RPX. Cinemark Theaters has CinemarkXD, and Marcus has both UltraScreenDLX and SuperScreenDLX. AMC, the largest theatrical exhibitor, has several: Dolby Cinema, Prime and Laser. When a moviegoer buys a ticket to the majority of these large format screens, the exhibitor traditionally evenly splits the revenue with the studio. But when a moviegoer buys a ticket to an IMAX theater, the exhibitor and the studio must give a cut of their shares, often up to 12.5 percent, to IMAX. (Theaters also have to pay a yearly fee to IMAX for the upkeep of their projectors and screens.) Yet IMAX is the premium large-format option the studios promote more than the others. 'Theaters are struggling, and what seems to really make a different to audiences is the premium format,' said Jeff Goldstein, the president of distribution for Warner Bros. 'Each individual exhibitor doesn't want to give up their brand, and I think their strategy is smart. Any way that brings audiences out for movie going is good, and I think IMAX leads that.' Mr. Gelfond bought IMAX in 1994 through an investment company he co-founded. At the time, IMAX was primarily known for theaters inside museums and other cultural institutions, showing what he calls 'bears, whales and seals' films. It was not until 2003 that the company ventured into partnerships with Hollywood. When 'Avatar' was released in 2009, it grossed $250 million on 282 IMAX screens. Hollywood noticed. IMAX expects to generate $1.2 billion in box office revenue this year, its most ever. But the company is still relatively small. It reported $87 million in revenue last quarter, and $8 million in profit. The majority of the company's screens are operated by other theater owners as a joint venture, and they share revenue for ticket sales. In those cases, IMAX receives a cut of the box office only from the studios and not the exhibitors, yet it still controls the programming. The fact that IMAX works with theater chains does not stop Mr. Gelfond from insulting them. 'Their premium screens are just regular screens that are just bigger,' he said. 'We are investing in a great experience. They are investing in buying a standard projector and putting it on a bigger screen.' Not everyone agrees with Mr. Gelfond's assessment about his competitors, including his competitors themselves. Yet his pugilistic style has gotten him far in Hollywood. Recently, he waded into the thorny world of Netflix and theatrical distribution. The entertainment giant has long eschewed releasing movies in theaters before its streaming service. Last month, Ted Sarandos, Netflix's co-chief executive, called the communal experience of watching a movie in a theater 'an outmoded idea.' But IMAX reached a deal to show Greta Gerwig's upcoming adaptation of 'The Chronicles of Narnia,' a Netflix film, for two weeks in fall 2026 before it goes on the streaming service. That has left some industry insiders wondering whether theaters would be willing to play a Netflix film at all, even if they are contractually obligated to under their deal with IMAX. 'It does cause a conflict in the sense that Netflix has been quite public with negative comments,' Adam Aron, AMC's chief executive, said in an interview. 'But to support Rich we are going to play 'Narnia.' And we'd love to be able to convince Ted Sarandos that Netflix would be advantaged if it embraced movie theaters.' Some say Mr. Gelfond's direct relationships with some top Hollywood directors have often put him ahead of the studios when it comes to knowing filmmakers' intentions. Christopher Nolan ('Oppenheimer') and Ryan Coogler ('Sinners'), both of whom have shot with IMAX cameras, and others have become evangelists for the brand. At the Cannes Film Festival this month, Mr. Gelfond revealed that Mr. Nolan would film the entirety of his next movie, 'The Odyssey,' with IMAX cameras. His connections with some movie stars can help, too — and he's happy to boast about them. Mr. Gelfond was quick to pull out his phone to share his text exchange with Mr. Cruise moments after the actor rappelled into the stadium at the closing ceremony of the Paris Olympics last summer. 'Beyond awesome!! You're the best,' Mr. Gelfond messaged the actor. A minute later, Mr. Cruise responded: 'Thank you, my friend. We are going to crush it next summer.'
Business Wire
21-05-2025
- Business
- Business Wire
EVT and IMAX Expand Fast-Growing Partnership with Four New
NEW YORK--(BUSINESS WIRE)--EVT (ASX: EVT) and IMAX Corporation (NYSE: IMAX) today announced a significant expansion of their fast-growing partnership, with an agreement for four new state-of-the-art IMAX ® with Laser systems across Australia. The agreement represents the largest deal ever for new IMAX locations in Australia and triples the IMAX network with EVT. Three locations are set to open before the end of 2026, with an additional location set to open in 2027. EVT has rapidly grown its offering, becoming the largest operator of IMAX locations in Australia. EVT's existing IMAX footprint includes the iconic IMAX Sydney in Darling Harbour - which has consistently ranked among the top 5 locations globally for IMAX since it reopened in late 2023 - and Event Cinemas Pacific Fair on the Gold Coast, which opened in December. The partnership extends to Australia, New Zealand and Germany where IMAX and EVT are partnered on seven locations across these countries, with seven more locations set to open. 'A key element of the EVT entertainment strategy is to target investment into 'Fewer and Better' locations, maximising EVT's premiumization concepts and solidifying our leading positions. Our customers love the IMAX format and when you pair that with our broad range of premium seating options, we continue to deliver world class movie-going experiences. The growing preference for premium cinema is evident in our record-breaking key metrics results. With a strong future IMAX line-up, we look forward to offering more customers the IMAX experience' said EVT CEO, Jane Hastings. 'Moviegoer demand for IMAX significantly eclipses our current footprint in Australia and EVT continues to be very proactive and strategic in filling that gap, with IMAX locations set for new areas across the country,' said Rich Gelfond, CEO of IMAX. 'EVT and IMAX share a passion and keen focus on delivering the best possible cinematic experience, and we look forward to adding even more locations in one of our most productive markets worldwide.' IMAX has undergone unprecedented growth in Australia – inclusive of this deal, the IMAX network in the country has grown eightfold since late 2022, when IMAX Melbourne was the only location in the country. IMAX currently has four locations open in the country, and this deal bumps the backlog count to five new locations slated to open. The deal comes as IMAX continues to ride a wave of momentum in Australia. The country was the top market overall by per-screen-average (PSA) for IMAX in 2024, with an average of nearly $4.5 million per screen in the market - the next-best market delivered a PSA of just over $2.4 million. Similarly, Australia currently ranks as the tenth market overall for IMAX box office - a stellar result from just four locations in the country and ranking behind powerhouse IMAX markets like the U.S., China, Japan and the UK. The new EVT location will be equipped with IMAX with Laser, IMAX's most advanced entertainment experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The experience is set apart by a ground-breaking 4k laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX screens. ABOUT EVT Entertainment businesses that excite every sense. Commercial Ventures driven by a passion for new opportunities. Travel businesses that always feel local and authentic. Event Cinemas is part of EVT Event Cinemas is the ultimate experience for movie-goers, entertainment precincts that offer state-of-the-art cinema with quality food and beverage: from bars and cafes with extensive wines and highly trained baristas, to Scoop Alley – our self-service candy bar. The dining experience at Event Cinemas is far from being just about popcorn. Then there's our big movie experience – V-Max, with big seats, big sound and a huge 20 metre digital screen, guaranteeing maximum impact. And Gold Class, the finest in luxury cinema, with every seat, literally, the best seat in the house. Entertainment: 140+ Cinema Experiences | 150+ Bars and Restaurants | Wellness Event Cinemas AU & NZ | BCC Cinemas | Rialto Cinemas | The Embassy | CineStar Germany | Moonlight | Skyline Drive In | Cinebuzz OnDemand | State Theatre | SpaQ | Thredbo leisure Centre & Golf Course | Rydges Formosa Golf Course Ventures: ~$2B Property Portfolio | Partnerships EVT Property Development | EVT Hotel Management | EDGE CT | EVT Media & Sponsorship | EVT Partnerships | The Parlour Lane Company Travel: 80+ Hotels | Australia's number 1 Ski Resort QT | Rydges | Atura | LyLo | Independent Collection by EVT | Thredbo ASX top 200: EVT | ~$1Bn Annual turnover | $2Bn+ Market Cap | Team of ~9000 For more information visit About IMAX Corporation IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe. IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code '1970'. IMAX ®, IMAX ® 3D, Experience It In IMAX ®, The IMAX Experience ®, DMR ®, Filmed For IMAX ®, IMAX LIVE™, and IMAX Enhanced ® are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube (
Yahoo
19-05-2025
- Business
- Yahoo
Regal Cinemas and IMAX Expand Partnership With Four New Marquee Locations Across Los Angeles, Houston, and Washington, DC Areas
New Agreement Includes Bringing IMAX 70mm Film to Iconic L.A. LIVE Entertainment Complex KNOXVILLE, Tenn. & NEW YORK, May 19, 2025--(BUSINESS WIRE)--Regal Cinemas and IMAX (NYSE: IMAX) today announced an expansion of their longstanding partnership with an agreement for four new IMAX® with Laser locations in the United States' biggest metropolitan areas. Included in the agreement, Regal will open a new IMAX theatre at the iconic L.A. LIVE entertainment complex in Downtown Los Angeles, with an IMAX 70mm film projector and 80-foot screen that will be among the largest in the city. The agreement will also bring new IMAX locations to three of IMAX's highest grossing metropolitan areas in the country, including Regal Greenway Grand Palace in Downtown Houston; Regal Virginia Gateway in the Gainesville suburb of Washington, DC; and Regal Sherman Oaks in Los Angeles. Three of the four new IMAX locations are set to open this year, with the remaining location opening in 2026. "At Regal, we are committed to providing the latest and most innovative technologies in our theatres with the overall goal of delivering the best moviegoing experience for our guests," said Eduardo Acuna, CEO of Regal Cineworld Group. "Through our partnership with IMAX, we are able to expand on this commitment by bringing their most advanced entertainment experience to some of our top performing locations." "These are excellent, in many cases newly renovated locations that demonstrate Regal's commitment to customer experience and promise to join the ranks of the most successful IMAX locations in the country," said Rich Gelfond, CEO of IMAX. "Passionate moviegoing audiences in major metropolitan areas fuel our growth, and we're excited to expand our partnership with Regal Cineworld and give our fans even more ways to experience it in IMAX." The agreement also provides for the renewal of 33 Regal IMAX locations across the U.S., and the installation of ten previously contracted upgrades to IMAX with Laser in 2025. Regal Cineworld, the parent company of Regal, is one of the largest global operators of IMAX with 132 IMAX screens out of over 640 locations worldwide. IMAX 70mm film is the highest-resolution image capture in cinema, shot exclusively with IMAX film cameras to deliver up to 18K resolution in a single frame. Films shot using this special format are shown in IMAX 70mm film projectors, a unique system currently available in just 30 locations worldwide. Recent films shot with IMAX film cameras and presented in IMAX 70mm include "Oppenheimer," "Sinners," and the 10-year anniversary re-release of "Interstellar." Next year's "The Odyssey," currently being shot with IMAX film cameras by Academy-Award winning director Christopher Nolan, will be released in IMAX 70mm locations in July 2026. All the new locations will be equipped with IMAX with Laser, IMAX's most advanced entertainment experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The experience is set apart by a ground-breaking 4k laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX screens. About Regal Regal operates one of the largest and most geographically diverse theatre circuits in the United States, consisting of 5,565 screens in over 400 theatres in 41 states along with the District of Columbia and Guam as of April 30, 2025. Regal is focused on delivering the best moviegoing experience by providing our guests with the largest selection of premium large formats (including 4DX, IMAX, RPX, and ScreenX), the only unlimited subscription program, and enhanced food and beverage offerings to make every visit to the theatre a truly memorable experience. Additional information is available online at About IMAX Corporation IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe. IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970". IMAX®, IMAX® 3D, Experience It In IMAX®, The IMAX Experience®, DMR®, Filmed For IMAX®, IMAX LIVE™, and IMAX Enhanced® are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube ( View source version on Contacts Investors: Jennifer Horsleyjhorsley@ Media: Mark Jafarmjafar@ Sign in to access your portfolio
Business Wire
19-05-2025
- Business
- Business Wire
Regal Cinemas and IMAX Expand Partnership With Four New Marquee Locations Across Los Angeles, Houston, and Washington, DC Areas
KNOXVILLE, Tenn. & NEW YORK--(BUSINESS WIRE)--Regal Cinemas and IMAX (NYSE: IMAX) today announced an expansion of their longstanding partnership with an agreement for four new IMAX® with Laser locations in the United States' biggest metropolitan areas. Included in the agreement, Regal will open a new IMAX theatre at the iconic L.A. LIVE entertainment complex in Downtown Los Angeles, with an IMAX 70mm film projector and 80-foot screen that will be among the largest in the city. The agreement will also bring new IMAX locations to three of IMAX's highest grossing metropolitan areas in the country, including Regal Greenway Grand Palace in Downtown Houston; Regal Virginia Gateway in the Gainesville suburb of Washington, DC; and Regal Sherman Oaks in Los Angeles. Three of the four new IMAX locations are set to open this year, with the remaining location opening in 2026. 'At Regal, we are committed to providing the latest and most innovative technologies in our theatres with the overall goal of delivering the best moviegoing experience for our guests,' said Eduardo Acuna, CEO of Regal Cineworld Group. 'Through our partnership with IMAX, we are able to expand on this commitment by bringing their most advanced entertainment experience to some of our top performing locations.' 'These are excellent, in many cases newly renovated locations that demonstrate Regal's commitment to customer experience and promise to join the ranks of the most successful IMAX locations in the country,' said Rich Gelfond, CEO of IMAX. 'Passionate moviegoing audiences in major metropolitan areas fuel our growth, and we're excited to expand our partnership with Regal Cineworld and give our fans even more ways to experience it in IMAX.' The agreement also provides for the renewal of 33 Regal IMAX locations across the U.S., and the installation of ten previously contracted upgrades to IMAX with Laser in 2025. Regal Cineworld, the parent company of Regal, is one of the largest global operators of IMAX with 132 IMAX screens out of over 640 locations worldwide. IMAX 70mm film is the highest-resolution image capture in cinema, shot exclusively with IMAX film cameras to deliver up to 18K resolution in a single frame. Films shot using this special format are shown in IMAX 70mm film projectors, a unique system currently available in just 30 locations worldwide. Recent films shot with IMAX film cameras and presented in IMAX 70mm include 'Oppenheimer,' 'Sinners,' and the 10-year anniversary re-release of 'Interstellar.' Next year's 'The Odyssey,' currently being shot with IMAX film cameras by Academy-Award winning director Christopher Nolan, will be released in IMAX 70mm locations in July 2026. All the new locations will be equipped with IMAX with Laser, IMAX's most advanced entertainment experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. The experience is set apart by a ground-breaking 4k laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX screens. About Regal Regal operates one of the largest and most geographically diverse theatre circuits in the United States, consisting of 5,565 screens in over 400 theatres in 41 states along with the District of Columbia and Guam as of April 30, 2025. Regal is focused on delivering the best moviegoing experience by providing our guests with the largest selection of premium large formats (including 4DX, IMAX, RPX, and ScreenX), the only unlimited subscription program, and enhanced food and beverage offerings to make every visit to the theatre a truly memorable experience. Additional information is available online at About IMAX Corporation IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe. IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of March 31, 2025, there were 1,810 IMAX systems (1,738 commercial multiplexes, 11 commercial destinations, 61 institutional) operating in 89 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code '1970'. IMAX®, IMAX® 3D, Experience It In IMAX®, The IMAX Experience®, DMR®, Filmed For IMAX®, IMAX LIVE™, and IMAX Enhanced® are trademarks and trade names of IMAX Corporation or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit You may also connect with IMAX on Instagram ( Facebook ( LinkedIn ( X ( and YouTube (
Geek Tyrant
16-05-2025
- Entertainment
- Geek Tyrant
Christopher Nolan's THE ODYSSEY Will Be Shot Entirly in IMAX Which No Movie Has Done Before — GeekTyrant
If you've ever sat in a true IMAX theater watching films like The Dark Knight , Dune: Part Two , or Oppenheimer and thought, 'Why can't the whole movie look like this?', you're not alone. Director Christopher Nolan heard you, and now he's doing something no one else in Hollywood has managed to pull off. For decades, directors have only used IMAX's massive 1.43:1 format for select sequences. The cameras were too bulky, too loud, and just too impractical to roll for an entire feature, especially one with lots of dialogue. But Nolan, never one to back down from a technical challenge, asked IMAX to rethink that entirely. And they did. IMAX CEO Rich Gelfond revealed at Cannes this week: 'Chris called me up and said If you can figure out how to solve the problems, we will make [The Odyssey] 100 percent in IMAX. And that's what we're doing. He forced us to rethink that side of our business, our film recorders, our film cameras.' What came out of that collaboration is a set of smaller, substantially lighter IMAX film cameras, reportedly 30% quieter than their predecessors. These new models are being used right now to film The Odyssey , making it the first major Hollywood blockbuster to be shot entirely in native IMAX 1.43:1 film format. To put this in perspective, while plenty of movies advertise as being shot for IMAX, most of them use digital IMAX cameras that don't fill the full screen in an IMAX theater. Other movies mix formats, jumping between widescreen and the square-ish, towering IMAX frame. Nolan was one of the pioneers of that technique, first using it in The Dark Knight . But now, he's pushing the format into entirely new territory. And it won't stop with The Odyssey . Once Nolan wraps production, these new cameras will become available to other filmmakers. That means this moment isn't just a cool milestone, it will mark the beginning of a new wave in cinematic visual storytelling. So what does this mean for moviegoers? If you're lucky enough to live near one of the few true IMAX theaters that can project in 1.43:1, you're going to want to plan ahead becauset those showing are for sure going to sell out. Universal has described the film as a 'mythic action epic shot across the world using brand new Imax film technology. The film brings Homer's foundational saga to Imax film screens for the first time.' The Odyssey follows Odysseus' 10-year journey home from the Trojan War, encountering a cyclops, sirens, a sea monster, and more along the way. Meanwhile, back in Ithaca, his wife Penelope must fend off suitors vying for the throne in his absence. Starring Matt Damon, Tom Holland, Anne Hathaway, Zendaya, Lupita Nyong'o, Robert Pattinson and Charlize Theron, as well as Mia Goth, Jon Bernthal, Elliot Page, Samantha Morton, John Leguizamo, Will Yun Lee, Benny Safdie, Himesh Patel and Bill Irwin. The Odyssey opens July 17, 2026.
