Streaming’s Questionable ‘Model’ Could Be ‘Tailwind’ for Theaters: Imax CEO

Immersive feature films “will always be the straw that stirs the drink for Imax," said CEO Rich Gelfond on a Q1 earnings call Thursday. A “blockbuster pipeline” of movies for 2022, beginning with the release in May of Doctor Strange and Top Gun: Maverick, is “a significant opportunity to further drive box office revenue and capture market share,” he said. “In my 28 years with the company, this is one of the best blockbusters slates I've ever seen.” Streaming services face intensifying competitive pressures and “renewed questions around the economic model for the streaming business, which could provide a tailwind for theatrical releases,” said Gelfond. “We've long held that as the virus is brought under control, and people felt increasingly safe, consumers would be drawn back to communal out-of-home entertainment experiences,” including moviegoing, he said, citing the box office success of Spider-Man: No Way Home and The Batman.