The Town with Matthew Belloni Can IMAX Save Movie Theaters?
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Apr 11, 2024 IMAX CEO Rich Gelfond discusses the importance of IMAX screens in movie theaters, benefits of IMAX sales for certain movies, issues with empty multiplexes, and an opening-weekend box office prediction for 'Civil War'. The podcast delves into the impact of IMAX technology on revenue, collaboration with filmmakers, and strategic discussions with studios for film screenings.
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Theater Overscreening
- The theater business faces a perilous time due to shrinking movie releases and lower box office numbers.
- Box office revenues are down, but the number of screens hasn't decreased proportionally, indicating an oversaturation.
Too Many Screens
- The US has too many movie screens for the current box office climate.
- A retrenchment in the number of theaters is likely necessary for the industry to thrive.
IMAX Resilience
- Despite theater bankruptcies, IMAX screens remained operational, even being added to newly acquired multiplexes.
- This highlights the resilience and demand for IMAX within the struggling exhibition industry.