The Odyssey Imax 70 mm screenings drive scarce premium ticket demand
Only 41 theaters worldwide are showing Christopher Nolan’s film in Imax 70 mm, lifting demand for higher-priced premium screenings.
By Marcus V. Thorne · Markets Editor
· 4 min read
The Odyssey Imax 70mm screenings have become a scarcity-driven box-office draw, with only 25 U.S. theaters and 41 worldwide offering Christopher Nolan’s preferred presentation of the Universal film. EntTelligence data cited by CNBC showed an adult opening-weekend ticket for the format averaged $27.77, 81% above the average admission price across all formats.
The rush has turned a niche projection format into a commercial asset for Imax and participating exhibitors. Imax Chief Executive Richard Gelfond told analysts Thursday that 70 mm screens showing “The Odyssey” averaged $153,000 in box-office revenue during opening weekend, and he said the format’s run would continue for months.
Demand has been constrained by the small number of auditoriums able to show the film in Imax 70 mm. Imax lists 25 U.S. locations and 16 international locations for the presentation, reflecting the cost and physical requirements of projecting large-format film prints.
What is Imax 70 mm and why are The Odyssey tickets scarce?
Imax 70 mm is an analog large-format film presentation that uses much larger film stock than standard cinema formats, producing a bigger and more detailed image when projected in properly equipped theaters. It is scarce because theaters need specialized projection equipment, large enough auditoriums and the economics to support the machinery and operating costs.
Gelfond compared the economics of Imax 70 mm auditoriums to a luxury product, saying there are a limited number of sites that can support the format. He also said fans had been traveling across countries, and in some cases continents, to see “The Odyssey” in Imax 70 mm.
The format carries added significance for the film because “The Odyssey” is the first feature shot entirely with Imax 70 mm cameras, according to CNBC. Other directors have used the cameras for selected sequences within movies shot largely in other formats.
The scarcity has created unusual consumer behavior. CNBC reported that Mike Rohlfing, a 39-year-old marketer from St. Louis, drove about 900 miles round trip with his wife and three children to see the film in Grand Rapids, Michigan. He told CNBC the format justified the trip.
Exhibitors reported strong demand across several markets. Cinemark told CNBC that its Imax 70 mm screenings in states including Colorado and Texas were drawing exceptionally strong interest. Regal said the nearly three-hour film had become its top movie shown in Imax 70 mm.
The Imax 70 mm theater at the Indiana State Museum, the only venue in Indiana showing the film in that format, added another week of screenings in August because of demand it described as historic. Theater manager Neale Johantgen told CNBC that more than half of early attendees traveled at least 50 miles, with visitors arriving from more than 20 states and ticket inquiries coming from as far away as Switzerland.
How the premium format is affecting Imax
The premium-screening push is also feeding investor attention on Imax. CNBC reported that Imax topped analyst expectations in its second-quarter results on Thursday, contributing to one of the stock’s largest single-session gains in recent history. The company also reported year-over-year growth in network signings and installations.
LSEG data cited by CNBC showed most analysts had a buy rating on Imax, while the average price target implied a further 12% increase over the following year. Those figures are analyst views, not company guidance.
Steve Frankel, senior research analyst at Rosenblatt Securities, told CNBC that Imax’s theaters offer an experience consumers cannot reproduce at home, calling 70 mm the top tier of that proposition.
Online attention has reinforced the ticket scramble. Meltwater data analyzed for CNBC showed conversation around Imax 70 mm in social and news media roughly doubled during the five-day period beginning July 17, while sentiment became more positive. Google data cited by CNBC indicated relative search interest for “Imax 70 mm” was forecast to reach a new high this month, surpassing levels seen around Nolan’s 2023 release “Oppenheimer.”
Shawn Robbins, founder of Box Office Theory and director of analytics at Fandango, told CNBC the format had expanded beyond committed cinema fans and into wider pop-culture discussion. He said he expected “The Odyssey” could return to Imax 70 mm theaters during quieter periods in the fall release calendar and said interest may support future films planned for the format, including Warner Bros. Discovery’s “Dune: Part Three,” due in December.
This story draws on original reporting from CNBC.
