The master of the branded large-screen format is basking in the glow of interest from exhibitors in their premium format as a result of the successful worldwide run of THE ODYSSEY, which was filmed using IMAX cameras and optimized for playback in theatres using IMAX projection equipment. The rare 70mm IMAX format which projects movies printed on the large-format film reels is if particular interest, with only 25 such locations operating in the U.S. and 41 worldwide. IMAX CFO Natasha Fernandes reported at an investor conference that her company is engaged in many active conversions with exhibitors about adding more IMAX screens to their theatres, including some willing to make the expensive investment to project using 70mm IMAX.
THE ODYSSEY has generated $1.6B worldwide in its theatrical release, with $457M of that amount coming from IMAX screenings and $66M of that from the premium 70mm locations. The price of IMAX company shares has risen from $32 to $52 in the past 12 months, based on strong growth in earnings and an impression that its dominant position in the in-demand large-screen format puts the company in on a track for continued growth.
