IMAX CEO talks market share gains after strong first half of the year at the box offices
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CNBC
12 hours ago
- CNBC
IMAX CEO talks market share gains after strong first half of the year at the box offices
IMAX CEO Richard Gelfond joins 'Closing Bell Overtime' to talk consumer demand for movie theaters, market share gains, the summer box office lineup, and more.
Forbes
16 hours ago
- Forbes
Which Format Should You Choose To See ‘Superman' In The Cinema?
A movie and about a man and his dog. Only in cinemas. If I close my eyes, I can recall the green exercise book in which I'd written my review for English homework of the greatest film I'd ever seen in the cinema. It was the summer of 1981 and the movie was Superman II. Of course, having just turned seven years old, my cinematic repertoire wasn't extensive, but I think I can give my young self some credit for the enthusiasm – the movie still holds up. Of course, Superman is one of the iconic characters in cinema, and after months of buzz and anticipation, James Gunn's version, the fourth iteration of the Man of Steel on the big screen, has finally landed in theaters. As per the recent Jurassic World movie, the aim from the director is to draw on inspiration from the first iteration, when Christopher Reeve brought his iconic version to life in the 1970s, with David Corenswet's version a return to its comic book roots and a more hopeful version of the character, which arguably is exactly what audiences need right now and although inevitably there are naysayers, the first reviews seem to be positive. As you'd expect for what could be the biggest film of the year, the movie is available in nearly every format possible so let's run through them. IMAX As a larger-than-life character such as Superman, giant IMAX screens make for an obvious match. As James Gunn says in the IMAX BTS video, 'Seeing Superman fly, you want as much frame as you possibly can.' Captured digitally on a 6K Red Komodo, with a 4K digital intermediate, the movie is 'Filmed for IMAX'. In this case, this means it has undergone the IMAX DMR process and will be in 1.90:1 in all IMAX screens for the whole duration of the movie. Note that in all non-IMAX screens it is presented in pillar boxed 1.85:1. However, as the IMAX image is only 2.7% this pillar boxing will be barely noticeable on 1.85:1 screens – but will have larger pillar boxes on wider 'scope' 2.39:1 screens. Interestingly, 3D has made a minor comeback with Superman, with stereoscopic fans having a choice of five variations to choose from and IMAX 3D is one of them. 3D always works best at scale and no one does that better than IMAX. In the UK, only the BFI IMAX and Manchester Printworks will be showing it in IMAX 3D, with not even the GT dual-laser IMAX screen in Leicester Square offering it, while in the USA, you can find it in IMAX 3D on AMC screens. For 3D, you'll want your IMAX theater to have a laser projector for a brighter image to make up for the light loss from the glasses. IMAX Laser screens are also paired with 12-channel audio, which adds a height layer, which is exactly what you want for a movie like Superman. Dolby Cinema Another great premium option is Dolby Cinema, which, thanks to its high brightness levels, offers extended dynamic range images, with Dolby Vision creating truly deep blacks and bright whites, along with a wide color gamut. To my surprise, I also noticed that it is available, in limited showings, in Dolby Cinema 3D, and this will be another fine choice. I recently saw Jurassic World Rebirth in this format at the very lovely Cinema in the Power Station, in Battersea, London, and was blown away by the natural, eye-strain-free quality of the image. While the brightness levels are inevitably a lot less for 3D, Dolby can still reach 48 nits, so that the image is still color-rich and pleasing. Dolby is also matched with Dolby Atmos audio, and its ability to place objects in a 3D space should be fantastic for the maelstrom of Kryptonian vs Kaiju and other assorted baddies. HDR by Barco In technical terms, HDR by Barco even outdoes Dolby, with even higher brightness and clever 'Lightsteering' tech enabling true cinematic HDR images, which, combined with Dolby Atmos, will be an amazing experience. While the format gained a boost this week with the news that it will be coming to 50 locations across Europe by the end of the year, as it stands, your options are limited to just a few locations, so it's not a mainstream option yet. Premium Large Format Regular premium large format (PLF) is a good replacement. While there's no HDR, you'll get bright and sharp, laser-based 4K projection on a larger than standard screen, Dolby Atmos audio and comfy seats — popcorn-tastic! Each cinema chain uses its own brand name for PLF, so in the USA, look out for Prime at AMC, Regal RPX, Cineplex UltraAVX, and Cinemark XD. In the UK, it's Cineworld Superscreen, Odeon iSense, or OmniplexMAXX, with the first EPIC by Vue, in Nottingham, opening just too late for Superman. If you are a stereoscopic fan, I note that Regal is even offering a 3D option in RPX. Emphasizing the global popularity of the character, Superman is even getting a release in China, with its homegrown premium Cinity format offering up a similar experience to Dolby Cinema. 4DX 3D With Superman, you know that there is likely to be a large percentage of swirling, swooping flying action, and if you want to physically get a sense of it, then the bucking seats of 4DX are a tempting option. As kickers in the seat back convey every punch, you'll also get blasts of air, flashing lights and smoke effects. With 3D also the default option, 4DX is the way to go if you're looking for sensory overload. Side-screen action Other formats include ScreenX, which has footage that extends down screens at the sides of the auditorium, and in the USA, there is also ICE, which has panels down the side to match the content on the main screen. While the idea works for music, I find these mostly distracting for a movie, so it wouldn't be something I'd recommend. Standard Digital The final option is a standard theatre, which will be offering Superman in 2D or RealD 3D. If you go for the latter, then, as ever, try and seek out a screen with laser projection, as conventional Xenon-lamp-based projectors with older bulbs can already lack brightness, which, when you combine with the light loss from the 3D glasses, will make for a lackluster image. And your standard, regular 2D digital theatre? Well, it has the advantage of being the most inexpensive option, and if that means you can afford to take the family to see Superman and Louis Lane, then it's a very choice indeed. Further reading HDR By Barco Projection Technology To Underpin New 'EPIC By Vue' Branding Barco HDR Cinema Tech To Reach 30 US Theatres By The End Of 2025 Regal Cineworld To Bring Barco Laser Projection To 4000 Screens By 2030
CNBC
21 hours ago
- CNBC
IMAX is headed for its best year on record as it capitalizes on Hollywood's box office rebound
More than a year before "F1: The Movie" would eventually hit theaters, Apple struck a deal with IMAX. The studio secured the use of IMAX's camera technology as well as a three-week release in its theaters, a partnership that helped the film generate nearly $300 million globally in its first 10 days in cinemas. More than 20% of that haul came from IMAX screenings. In the U.S. and Canada, the company's theaters have accounted for 25% of all domestic ticket sales for the film. That feat is made even more impressive by the fact that IMAX screens represent less than 1% of the total movie screens worldwide. Two other films released this year have exceeded 20% market share for the company — Warner Bros.' "Sinners" and Paramount's "Mission: Impossible – The Final Reckoning." It's a sign of strength for IMAX's place in the rapidly evolving film industry. IMAX has long been a coveted destination for theatrical releases, but as consumer tastes continue to shift toward premium experiences, it's quickly gaining market share and poised for exponential growth in the coming years. CEO Rich Gelfond is forecasting a $1.2 billion year at the global box for the company, which would be 33% higher than 2024's haul and a record for the 55-year-old business. Wall Street analysts expect 2026 will be even better. "Post-pandemic a lot of activities, especially event activities, have really done well [for] premium brands," Gelfond told CNBC. "You look at concerts, ticket prices went up. Premium seats have gone up. You look at sporting events, same kind of thing. Broadway. I think people, although they enjoy staying at home, streaming and watching streaming products, when they go out of the home, they want something sufficient distinguished from that." Investors have rallied behind IMAX stock. Shares of the company are up roughly 60% in the last 12 months. IMAX screens are notably larger than standard movie screens and the theaters feature immersive audio systems. The company doesn't just screen movies, many of the films that appear in IMAX were shot using cameras and technology developed by the company specifically tailored to the IMAX viewing experience. "This year, we have eight movies in a row in North America that were filmed with IMAX cameras, and typically the box office goes higher when you shoot with the cameras," Gelfond said. "And there's a couple reasons for that. One, it's a better way of watching it and listening to it. But also, the filmmakers typically get behind it more, and they tell their audiences that it's the best way to see their work. And I think that's a powerful impetus for audiences to go to IMAX." These "filmed for IMAX" titles include features like Christopher Nolan's "Oppenheimer," Denis Villeneuve's "Dune" films and even the latest "Mission: Impossible" flick from Tom Cruise. Tickets to see a film in IMAX typically cost a few dollars more than standard movie tickets, which can help to boost a box office haul. "The more 'filmed for IMAX' titles, the more outperformance you seen on the film for IMAX titles," said Alicia Reese, analyst at Wedbush. "The better the margins are going to be. As you see margins improve in 2025, you're going to see not just better quality title signings in 2026, but what I expect to see is that the studios will take more ownership of the marketing campaigns with even greater upside." Roth's Eric Handler said that IMAX has a "high-class problem of too much content availability." The "F1" deal for three weeks of screen programming meant that Universal's "Jurassic World Rebirth" got edged out: the film missed out on a domestic IMAX release and was only featured on IMAX screens in China. That film will also appear in IMAX screens in Japan next month. Domestically, the movie slate is strong is 2025 and 2026, with a number of major franchise film releases on the books. Coming soon is Warner Bros.' "Superman" followed by Disney and Marvel's "Fantastic Four: First Steps." Then Universal's "Wicked: For Good" arrives ahead of the Thanksgiving holiday and Disney's "Avatar: Fire and Ash" hits theaters just before Christmas. 2026 kicks off with Amazon's "Project Hail Mary" and will also feature a new Avengers film, the first theatrical Star Wars release since 2019, a sequel to "The Super Mario Bros. Movie," a live-action "Moana" as well as "Toy Story 5" and "Shrek 5." And also in the mix is Nolan's next feature film "The Odyssey." New Hollywood releases are just one piece of IMAX's box office success. "Not only are they benefiting from Hollywood's recovery, they're also taking advantage of the global footprint and showing local language movies in China, in Japan and South Korea and parts of Europe," said Eric Handler, analyst at Roth. He noted that "Ne Zha 2," a Chinese release that has generated more than $2 billion in global ticket sales, was a particularly strong local language film for IMAX. The company generated nearly $170 million in receipts from screening the film. And there's still room for IMAX to grow. The company currently has around 1,700 screens worldwide, around 400 of which are in North America. Gelfond told CNBC that the company has contracts to build about 500 more IMAX screens. He said the company would share more specific details during its earnings report, which is due to be released later this month. "We signed almost as many new theaters this year as we signed for the whole year last year," Gelfond said. "So there's a lot of growth."
