Jul. 8 at 5:38 PM
$IMAX My general thesis on IMAX is as follows. There is a flight to quality experiences in entertainment. Sporting events aren't adding more seats, they are converting to luxury boxes. Same goes for the movies, with the difference being IMAX offers a materially different actual PRODUCT you are seeing, with the biggest directors/films in the game leading the charge and trumpeting it for them for FREE. And given consumers go to the movies LESS now than they used to, the price sensitivity just isn't there anymore. IMAX is currently a 30-50% premium over a standard ticket but could easily be double the price as the trend continues with no one balking.
The opportunity is tremendous. IMAX is ~1% of screens yet commands 5% of the TOTAL box office. On films that get shown on IMAX screens, they are ~20% of the TOTAL box office. There is endless runway to take multiplexes with 0 and give them 1. With 1, give them 2. Movies are moving their releases to fight for the IMAX screen time.
