Is IMAX too big to fail? IMAX CEO thinks so.
There is a reason we enjoy going to the movies. No other screen can compete with the sharp images on a giant IMAX screen. The deep colors, explosive sound, and captivating images suck you in all over again. It is why I have been returning to my local IMAX screen to watch classics like Titanic and Jaws in their full glory.
There is something magical about IMAX, and IMAX CEO Rich Gelfond is fully aware of this. Despite many movie theaters struggling to stay afloat after the COVID-19 pandemic, Gelfond believes that IMAX will return to its pre-pandemic gross box office levels of $1.1 billion in 2023.
After the company’s Q4 earnings call, Gelfond told IndieWire that he expects the company’s earnings will go up from 2022’s $850 million. This is a massive increase in profit that many traditional movie exhibitions would see. Gelfond knows that the traditional theatrical model won’t support a profitable return for many exhibitions in the game, but IMAX is in a different league.
Author: Alyssa Miller
This article comes from No Film School and can be read on the original site.