The CEO of Imax, Richard Gelfond, reveals how booked they are in the near future — due in part to the recent strikes.
He described a lot of it as a “land grab” to get movies into the Imax theaters, according to The Hollywood Reporter. All of this was discussed at the Wells Gargo TMT Summit.
Imax CEO Richard Gelfond on how the strikes affected films
The Imax theaters are pretty well booked in the foreseeable future. This is due to the strikes that occurred earlier this year.
“Because some things couldn’t go into production because of the [actors] strike when the strike settled, it was like a land grab for 2025,” Gelfond said. “So our summer late is almost completely booked up for 2025.”
During the discussion, he also noted some insight on China’s box office. Its recovery was rough, with its zero-COVID policy that had production shut down for quite a while.
“The country was shut down in quarantine, with drones flying over peoples’ houses. It was a pretty bleak situation,” he noted.
The good news is things seem to have bounced back nicely in China, where Imax has success. In China, Imax licensees out its tech to close to 800 Imax-branded theaters.
“It’s got a ways to go, but I think it’s on a good trajectory,” the CEO said. “I’m hopeful on Chinese New Year because this year China just reopened after the pandemic but was a year behind the rest of the world.”
He added, “Although China was pretty good for us this year, I think Chinese New Year and the year ahead should add more box office than it did this year.”
Whatever happens, fans are happy to watch blockbusters on Imax. According to Variety, Oppenheimer was an example of that after a $183 million summer run.
It sounds like Richard Gelfond and Imax have a busy time ahead.
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