By Brent Lang on 08/05/2012
In a summer where Hollywood has fielded nearly as many high-priced flops as blockbuster behemoths, one sector of the movie business has remained remarkably consistent – IMAX.
Audiences, particularly fanboys, have remained intensely loyal to its mammoth 70mm screens at a time when theatrical attendance domestically has declined.
Overall, IMAX, which has struggled in the past with the seasonal ups and downs of the movie business has been a more consistent performer. In the most recent quarter IMAX posted revenue growth of 22.7 percent. That outpaces the industry average of 13.4 percent. Profits increased six-fold to $11.1 million.
And even while the recent shootings at a Colorado theater have cast a shadow over the industry, the last month has been outstanding for the large-screen format. “The Dark Knight Rises” is shattering box-office records for IMAX, earning $50 million in just two weeks of release.
During the Batman’s sequel’s $160.8 million opening weekend, IMAX accounted for nearly 12 percent of the film’s box office, despite making up less than 5 percent of the screens showing the movie. A company that ten years ago was best known for showing science documentaries and only began screening theatrical features with "Fantasia 2000" in 2000, has become a true Hollywood player.
Indeed, at a time where theatrical exhibition is facing fierce challenges from gaming, digital content and elaborate home-entertainment systems that allow consumers to watch films from the comfort of their couch, IMAX provides something that can only be found on its screens. Read the entire article on The Wrap's website.
