Tag Archives: imax

Imax CEO Doesn’t Deny Talks With Netflix for Greta Gerwig’s ‘Narnia’

Will Aslan the lion show to be the hero that convinces Netflix to melt its stance concerning theatrical and provides Greta Gerwig‘s adaptation of C.S. Lewis’ The Chronicles of Narnia sequence a run in some 2,000 cinemas globally?

Imax and Netflix are certainly in preliminary talks concerning Narnia, sources inform The Hollywood Reporter. One plan being mentioned is to launch the occasion pic over Thanksgiving 2026 earlier than making it accessible to its subscribers over Christmas. Whether or not that will be a long-enough window to fulfill theater circuits that function Imax auditoriums is the large query, and the potential stumbling block.

Phrase of Gerwig’s marketing campaign has reopened outdated wounds and sparked angst amongst each studios and the nation’s prime movie show circuits.

Studios gained’t be completely happy if Imax carves out time throughout the vacation season for a Netflix movie that isn’t getting a standard window, which has already shrunk dramatically within the post-pandemic period to wherever from 30 to 65 days (smaller titles can go to the house even earlier).

The conversations originated after Gerwig, who directed the blockbuster 2023 film Barbie, approached Imax. Sources say she in the end spoke instantly with Imax CEO Wealthy Gelfond, whose large-format screens are revered by filmmakers, together with James Cameron and Christopher Nolan. Oppenheimer, which Nolan shot largely with Imax-certified cameras, did big enterprise on Imax screens regardless of being an grownup historic drama.

Imax inventory noticed a bump Tuesday upon information of the talks between Imax and Netflix, the place co-CEO Ted Sarandos has lengthy been unwilling to abide by a standard theatrical window, a lot to the frustration of filmmakers, together with Martin Scorsese. Netflix broke its personal precedent when giving Scorsese’s The Irishman an unique launch, nevertheless it nonetheless wasn’t lengthy sufficient (Netflix started experimenting a yr earlier with Roma).

Nor does the streamer report grosses. As a substitute, it places its awards contenders and high-profile authentic movies in a restricted variety of cinemas keen to play them (it additionally purchased or leased two prized cinema homes in Los Angeles and New York Metropolis, The Egyptian and The Paris).

Throughout an earnings name Wednesday, Gelfond wouldn’t touch upon the standing of conversations with Netflix, however didn’t refute studies. “Actually, as you already know, administrators, movie studios are all leaning into the Imax expertise,” the CEO mentioned. He added, “we’re at all times innovating and searching for new approaches to eventizing content material.”

It’s unclear as to how far Imax can be keen to go when it comes to alienating its exhibition companions had been it to affix forces with Netflix.

Gerwig’s deal to direct Narnia was introduced in early July 2023, weeks earlier than Barbie opened on the field workplace and become a cultural phenomenon, grossing north of $1.44 billion. Her clout, evidently, elevated exponentially, and he or she seems keen to make use of that clout to convey Narnia to theaters.

Many throughout Hollywood are questioning if Gerwig is reacting to current occasions concerning a high-profile undertaking starring her Barbie star-producer, Margot Robbie.

Earlier this month, Warner Bros. Movement Photos Group beat out Netflix to make Emerald Fennell’s Wuthering Heights adaptation, particularly partially due to its dedication to provide the movie a full worldwide theatrical launch. Robbie and Jacob Elordi are hooked up to star within the function undertaking, which hails from MRC and generated intense curiosity from streamers and studios.

Matt Belloni at Puck first reported the information of the talks between Gerwig and Imax.

Imax CEO Impact of Hollywood Strikes, Pandemic Firmly Behind Us

For Imax CEO Richard Gelfond, the affect of final yr’s Hollywood strikes and a lingering pandemic is within the rearview mirror.

“With the strikes — and the lingering results of the pandemic — firmly behind us, we’re in a wonderful place to completely understand the advantages of our robust, asset-lite enterprise mannequin,” Gelfond advised analysts throughout a morning convention name after his firm launched its second-quarter monetary outcomes with a income and gross sales dip.

That optimism can be a balm to high execs at main exhibitors, who’re Imax’s most important clients for its theater techniques and have confronted a disaster of confidence after theater shutdowns throughout the top of the pandemic and after final yr’s Los Angeles writers and actors strikes disrupted their film pipeline.

“We consider we have now reached a pivot level within the post-strike rebound, given surging demand for the Imax expertise amongst filmmakers, studios and audiences worldwide. We stand on the verge of a particularly thrilling time for our enterprise,” Gelfond added.

The power of Hollywood’s field workplace restoration within the wider exhibition trade was underlined on the movie applied sciences firm, whilst general income fell 9 % to $89 million, in comparison with a yr in the past income of $98 million, with earnings of $3.4 million, down 57 % from a $8.4 million revenue in 2023.

Disney and Pixar’s Inside Out 2 — having turn into the top-grossing Hollywood animated movie of all time on the worldwide field workplace — did huge numbers on Imax screens in June. That helped Imax put up international field workplace of $196.4 million within the second quarter after the June surge of film releases.

Different second-quarter field workplace performers for Imax included Kingdom of the Planet of the Apes, Furiosa and Godzilla x Kong: The New Empire. “I do assume (20)25 goes to be a way more optimistic yr. The strike is farther behind us. And the truth that the pandemic is just about over on the planet means even conventional exhibitors taking part in conventional films do higher,” Gelfond forecast.

Additionally throughout the second quarter, Imax offered its unique documentary The Blue Angels, about the Blue Angels pilots of the U.S. Navy, to Amazon Prime Video. The movie over its first week earned greater than $2.2 million on Imax screens and delivered the highest-grossing theatrical documentary opening of the yr up to now for the corporate. That got here forward of a industrial launch for The Blue Angels in Imax institutional theaters set for 2025.

As a measure of future enterprise development, throughout the second quarter Imax mentioned it put in 24 theater techniques, in comparison with 20 techniques within the year-earlier interval. Gelfond raised his forecast for full-year 2024 new or upgraded theater installations to 130, from 120, throughout the analyst name.

The improved steerage follows Chinese language exhibitor Wanda Movie, Imax’s largest exhibition accomplice worldwide, unveiling a brand new deal to improve 61 theaters. Wanda has 381 Imax areas in operation throughout China — and one other 19 already on the way in which.

Imax mentioned it ended the newest quarter with its 1,705 theater areas worldwide, up 4 % from a yr earlier, and had a backlog of 504 Imax theater techniques.

Imax has an enormous profile in China, and Gelfond was upbeat about that main worldwide marketplace for Hollywood and native films because it additionally tries to pivot away from the affect of the lingering pandemic. “We’re very inspired by the upcoming content material slate in China, and we consider the market is on the cusp of a rebound,” he advised analysts.

However whereas bullish on the field workplace forecast for China, Gelfond cautioned Imax has much less visibility about that Asian market as Hollywood films are allowed in and dated by native authorities. That’s in distinction to the U.S. market the place Imax is in shut contact and collaboration with main studio suppliers.

On the choice content material entrance, Imax and NBCUniversal signed a deal to carry dwell protection of the Olympic Video games opening ceremony on July 26 to greater than 150 giant-screen theaters within the U.S. as ticketed occasions. Gelfond advised analysts that superstars Celine Dion and Girl Gaga will carry out on the Paris Summer time Video games launch and be seen on super-sized Imax screens.