IMAX revenue rises 12 per cent as The Odyssey powers premium screens

MUMBAI: Christopher Nolan’s latest epic isn’t just filling cinema seats, it’s giving IMAX a blockbuster balance sheet. Riding the wave of The Odyssey, the premium cinema technology company posted strong second-quarter results, as demand for large-format screens and IMAX-shot films continued to gather pace.

IMAX reported revenue of $102.8 million for the second quarter, up 12 per cent from $91.7 million a year earlier. Net income climbed 30 per cent to $15.9 million, compared with $12 million in the corresponding period last year, while adjusted earnings per share surged 65 per cent to 43 cents, up from 26 cents.

The company credited the performance to growing demand for premium cinema experiences, with Christopher Nolan’s The Odyssey emerging as a major catalyst. Shot entirely using IMAX film cameras, the film has helped reinforce the company’s position as Hollywood increasingly leans on premium formats to drive box office growth.

The momentum was reflected across IMAX’s business segments. Content Solutions revenue, generated through partnerships with major studios and filmmakers, rose 2 per cent to $35 million, supported by international growth excluding China.

Meanwhile, Technology Products and Services revenue increased 16 per cent to $65 million, driven by higher theatre installations, system renewals and rental income. During the quarter, IMAX installed 38 new theatre systems, expanding its global footprint.

The company’s strong run has continued into the current quarter, with Universal Pictures’ The Odyssey delivering a record-breaking $52 million global opening weekend for IMAX. The premium format accounted for around 20 per cent of the film’s worldwide opening weekend box office despite being shown on less than 1 per cent of total cinema screens.

IMAX Chief Executive Officer Richard Gelfond described the film’s performance as unprecedented.

“The results for The Odyssey have been nothing short of tremendous,” Gelfond said, noting that the film has yet to open in major markets including China, Japan and South Korea, leaving further upside for its theatrical run.

He added that demand for the company’s premium IMAX 70mm screenings remains exceptionally strong, with many locations already recording sell-outs well into the film’s release window.

Gelfond also suggested that The Odyssey could prove to be a defining moment for IMAX, comparing its long-term impact with James Cameron’s Avatar franchise, which previously helped establish premium large-format cinema as a major driver of global box office.

The company believes the success is likely to encourage more filmmakers and studios to produce films specifically for IMAX screens, further strengthening its position in the premium exhibition market.

As Hollywood continues its post-pandemic recovery, IMAX appears to be benefiting from audiences’ growing appetite for immersive cinematic experiences. With The Odyssey setting new benchmarks and a pipeline of premium releases ahead, the company is betting that bigger screens and films made for them will remain one of cinema’s strongest box office draws.