{"id":575874,"date":"2023-05-24T18:11:12","date_gmt":"2023-05-24T15:11:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/imax-ceo-touts-premium-ticket-prices-amid-box-office-recovery\/"},"modified":"2023-05-24T18:11:12","modified_gmt":"2023-05-24T15:11:12","slug":"imax-ceo-touts-premium-ticket-prices-amid-box-office-recovery","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/imax-ceo-touts-premium-ticket-prices-amid-box-office-recovery\/","title":{"rendered":"#Imax CEO Touts Premium Ticket Prices Amid Box Office Recovery"},"content":{"rendered":"
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\n The global box office recovery for Imax has been driven by drawing premium ticket prices and releasing local language blockbusters in Asia.<\/p>\n

\n So says Imax CEO Richard Gelfond, who told an investors conference that consumers coming out of the pandemic are willing to pay a premium for \u201csomething special,\u201d whether for music concerts or live sports, and that includes his company\u2019s giant screen experience.<\/p>\n

\n \u201cWe charge more, but people are saying for something special and something out of the home and something I can enjoy with my family is worth paying for,\u201d he told the J.P. Morgan Global Technology<\/a>, Media<\/a> and Communications Conference during a session that was webcast.\u00a0<\/p>\n

\n The box office recovery at the cinema technologies company has been led by James Cameron\u2019s\u00a0Avatar: The Way of Water<\/em>, but Imax has also pursued a release strategy of releasing local language titles and Hollywood tentpoles on its international network of screens.<\/p>\n

\n Recent Hollywood blockbusters that played in Imax theaters include \u00a0Creed III<\/em>,\u00a0Ant-Man and the Wasp: Quantumania<\/em>\u00a0and\u00a0John Wick 4<\/em>. The local language releases included Japan\u2019s\u00a0Suzume<\/em>\u00a0from Toho and Yash Raj Films\u2019\u00a0Pathaan<\/em>\u00a0in India and Chinese box office, including China Film Group\u2019s\u00a0The Wandering Earth 2<\/em>\u00a0release as China continues to reopen its movie theaters.<\/p>\n

\n Gelfond reported one-third of global revenues during the first financial quarter came from foreign content, and many of the local language releases drove box office in countries outside their home markets. That\u2019s helping cement Imax\u2019s status as a launch pad for local language blockbusters in in Japan, India, Hong Kong and Singapore, among other Asian markets. \u00a0<\/p>\n

\n \u201cWe\u2019re doing a lot more language films and they\u2019re films that are travel<\/a>ling from one territory to another. So it\u2019s Japanese anime<\/a>d and it\u2019s Indian films,\u201d Gelfond said. And the return of Hollywood tentpoles on top of local-language blockbusters has allowed Imax a big rebound in its Asia business starting last year.<\/p>\n

\n China is its own bucket, however, after COVID lockdowns, the return of stringent censorship control and reduced Hollywood product in the market until recently. \u201cChina is a year behind the rest of the world in the recovery from the pandemic,\u201d which has produced a lag in expected theater signings and box office gains in that market, Gelfond told the investors conference. \u00a0<\/p>\n

\n On the performance in China of Hollywood tentpoles, Gelfond said \u201cfor the right movie, people will come out,\u201d as he pointed to Avatar: The Way of Water <\/em>performing well locally, even if box office for certain Marvel titles like Ant-Man and the Wasp: Quantumania <\/em>underwhelmed.<\/p>\n

\n Gelfond cautioned China was still in a recovery phase as minor COVID lockdowns still flare up in that market. \u201cI don\u2019t think it\u2019s going to be back to normal because it\u2019s not a light switch. It\u2019s a faucet, but I think it\u2019s headed in that direction at a fairly rapid pace,\u201d he argued.<\/p>\n<\/p><\/div>\n