Word: imaxed
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...IMAX is pitching its wares to multiplex theaters and Hollywood...
...seat IMAX theater in Grand Rapids, Mich., Nov. 12 was a banner day. On the 53-ft.-high screen that evening: the first full-length feature converted into IMAX 3-D, Warner Bros.' The Polar Express. One performance after the other sold out--and the momentum kept up all weekend, even with ticket prices at $13. When the receipts were counted, this IMAX screen had raked in more for the film's opening than any other theater in the state. "We would've done even better," says John Loeks, CEO of Celebration! Cinemas in Michigan...
...IMAX executives, those results are almost as magical as the snowflakes seemingly drifting down over audiences watching Polar Express in 3-D. While the regular film didn't do as well as expected on its opening weekend, the 3-D version set a record for IMAX, pulling in an average $35,600 per screen--roughly six times as much as conventional theaters. Armed with those numbers, IMAX hopes it can convince Hollywood and theater operators that IMAX movies can draw big crowds at premium prices. For an industry stung by a 4% drop in attendance last year and probably steeper...
Well, maybe. Until recently, IMAX was not exactly what you would call Hollywood hip. Founded in 1967, the Ontario-based entertainment company was known for its eight-story-tall screens in museums and its educational films on such subjects as dolphins and space--some in 3-D. Cool? Definitely. Profitable? Not very, especially considering the $8 million cost of an IMAX theater. But over the past 21 months, IMAX has introduced a new technology that allows multiplex operators to retrofit existing theaters for about $1.6 million. The company also developed a way to digitally convert films to its giant-screen...
...IMAX: Polar Express glows...