IMAX Posts Record $257 Million July as 'The Odyssey' Drives Format Boom
Updated
Updated · CNBC · Aug 29
IMAX Posts Record $257 Million July as 'The Odyssey' Drives Format Boom
1 articles · Updated · CNBC · Aug 29
Summary
$257 million in July global box office made it IMAX's highest-grossing month ever, with Christopher Nolan's "The Odyssey" powering the surge.
The film became IMAX's biggest release of all time by Aug. 10 with $289 million globally, helped by demand for scarce 70mm screenings at just 41 theaters worldwide.
CEO Richard Gelfond said recent hits including "Dune," "Oppenheimer" and "Sinners" pushed an "IMAX awakening" past a tipping point, turning the format itself into a draw.
IMAX captures that demand through a licensing model: studios pay to optimize films and IMAX takes about 12.5% of IMAX box office, while theaters buy or share revenue on its systems.
Premium pricing underpins the model—IMAX 70mm tickets average about $27.77 versus a $16.30 standard ticket—though Gelfond says the $50,000 cost of each film print limits wider rollout.
With only 41 IMAX 70mm screens worldwide, is the record-breaking success of Nolan's 'The Odyssey' driven by cinematic brilliance or artificial scarcity?
How did Nolan transform Homer's ancient epic into a psychological horror experience that pushed IMAX to its highest-grossing month in history?
If the parts to build IMAX 70mm projectors no longer exist, how will theaters satisfy the exploding demand for premium immersive formats?