Aug 10, 2026 · 45 min
Listen from 0:17
Listen at 0:17
IMAX turns scarce screens into a film-industry advantage
Is IMAX a Screaming Buy? With Rich Gelfond
The conversation examines whether IMAX’s filmmaker relationships, premium economics, and visible pipeline can sustain growth despite unpredictable movie-by-movie results.
- 1IMAX protects filmmaker commitments and secures projects early, creating unusual visibility into its future film and theater pipeline.
- 2Premium pricing remains a balancing act between demand, attendance, utilization, and margins rather than a simple ticket-price increase.
- 3Alternative content and streamer partnerships help make IMAX a destination beyond Hollywood’s biggest conventional releases.
Don't miss
Gelfond details how IMAX worked with Christopher Nolan on cameras, projection equipment, parts distribution, and projectionist training.
The brief
Rich Gelfond, IMAX’s CEO, explains how a company representing a small share of global screens became a premium destination through filmmaker and studio relationships.
The Oppenheimer and Dune scheduling conflicts reveal IMAX’s central tension: protecting long-term filmmaker trust while managing scarce screens and major studio demands.
IMAX secures projects years before release, sometimes before distribution is settled, giving it visibility into a committed slate while leaving individual box-office results uncertain.
The business case extends beyond Hollywood: concerts, sports, anime, international films, re-releases, and streamer collaborations can fill theatrical gaps and create events.
Gelfond’s Christopher Nolan discussion shows how IMAX can shape filmmaking itself, from cameras and projection equipment to parts distribution and projectionist training.
The episode’s broader claim is that IMAX is selling a destination and a production ecosystem, not simply a larger screen or a higher-priced ticket.
What was said on this episode
27 statements · 20 positive · 4 negative · 1 mixed · 2 neutral
IMAX releases help big movies become blockbusters or breakouts.
“if you have a big movie and you want it. released in a way that it's going to turn into a blockbuster or it's going to break out. I think having an IMAX release is an integral component of that.”
Listen at 3:03
IMAX operates 800 theaters in China.
“We have 800 theaters in China.”
Listen at 3:35
IMAX expects to perform well on Dune 3.
“we're leaning into Dune and I think we'll do really well on it.”
Listen at 7:03
Disney’s Infinity Vision repackages existing theaters rather than building new ones.
“Infinity Vision is a marketing. They're not building new theaters. They're taking existing theaters with an X in them, and they're bundling them, and they're calling it Infinity Vision.”
Listen at 7:37
IMAX has unusually strong visibility into its future business.
“we have more visibility into the future than almost any other business.”
Listen at 9:41
IMAX has films committed for 2028 and probably some for 2029.
“we have films committed to us for... 28, and we probably have some for 29.”
Listen at 10:01
IMAX is becoming more integrated earlier in film development, extending its runway.
“the kind of short answer to your question is as we become more important in the ecosystem we become more integrated and earlier on so we have a bigger runway”
Listen at 13:33
IMAX expects to capitalize on merchandising.
“So I think that's definitely an area where we're going to capitalize.”
Listen at 14:42
Higher IMAX ticket pricing is an opportunity for Dune and future films.
“hopefully for Dune and other things, that is an area of opportunity.”
Listen at 16:11
IMAX has exceeded 30% box-office indexing on some movies.
“We've done over 30. on some movies.”
Listen at 17:19
The Odyssey’s box office and presales imply roughly $340 million for IMAX.
“it'll be close to 300 and we have $40 million in pre-sales. So if we never sell another ticket, we're at three 40.”
Listen at 18:23
IMAX’s brand is comparable in strength to Disney and Nike.
“our brand. is on a level of Disney and Nike and people like that.”
Listen at 19:56
Rich Gelfond would not own Sphere Entertainment stock.
“Personally, I wouldn't own that stock.”
Listen at 20:53
IMAX LA Live generated $800,000 in its first six months after conversion.
“The first six months, it did $800,000.”
Listen at 22:28
Many additional 70mm IMAX theaters are economically unviable.
“the model just doesn't work where you could have a lot of them.”
Listen at 23:22
IMAX might add 10 new 70mm theaters through an unproven idea.
“we have a clever new idea, which we haven't proved out yet, where we might be able to get 10 new ones.”
Listen at 23:41
IMAX offered 120 pieces of content last year, including non-movies.
“Last year, we had 120 pieces of content, which included not only movies.”
Listen at 24:07
IMAX plans a global release for Rachman 2.
“we're going to open that on a global basis.”
Listen at 24:52
The Odyssey is expected to reach roughly $340 million including presales and remain in theaters until September.
“So today will be around 300 million in the movie and with the 40 in backlog, and it's going to be around till September.”
Listen at 30:59
Movie-business prognosticators have almost always been wrong about its future.
“the prognosticators, if I could say one thing about them, they've almost always been wrong. about the future of the movie business.”
Listen at 32:05
Comedies will return and succeed in the movie business.
“I think, yeah, there'll be comedies.”
Listen at 35:56
Only an uncertain number of returning comedies will be released in IMAX.
“I'm not sure how many will be in IMAX”
Listen at 35:58
Consumers should treat going to IMAX as a destination experience.
“People should wake up and say, let's go to the IMAX.”
Listen at 37:14
The new Star Wars film will be a major box-office movie.
“I think it's going to be a big movie.”
Listen at 39:27
IMAX expects to perform very well next year.
“So I think we're going to do very well.”
Listen at 39:49
IMAX would consider acquisition discussions at an exceptionally high price.
“if someone comes along, you know, at a blow away price, we'll talk.”
Listen at 42:16
IMAX is not actively seeking a buyer.
“But we're not actively, you know, seeking out anybody.”
Listen at 42:21
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
