IMAX is a commercial enterprise that specializes in the production and screening of large-format films in special theatres with high-resolution and high-brightness projection systems and laser-phonography sound systems. The company was founded by the Canadian-American businessman and engineer, Graeme Ferguson, in the year 1968. The headquarters of this famous cinema brand is in the city of Toronto in Ontario, Canada. However, it has offices and theatres in many other countries as well. The name IMAX is an acronym for ‘Image Maximum’. The term ‘maximum’ signifies the largest film format in existence. The IMAX format is special in the sense that it uses a much larger film frame than conventional motion picture film. This larger frame can be printed on 15-perforation (or 15-perf) film, the same film stock that is used in 70mm film presentations, which produces an extremely large and high-quality image.
How does Imax Work?
The basic workflow of an IMAX screening is as follows:
- A film is shot in a special high-resolution format, with an image that is at least 44% larger than the standard 35mm image.
- The film is then printed on a special 70mm film stock and sent to an IMAX theatre for exhibition.
- The film is projected onto a giant IMAX screen, with a 1.9:1 aspect ratio (as opposed to the standard 16:9 ratio of most films).
- The giant IMAX screen has a width of 80’’ and a height of up to 50’’.
- The giant screen size, along with the high resolution of the film, creates an extremely immersive experience.
Why is the growth of Imax important?
Large-scale films, such as nature documentaries and space films, are excellent candidates for an IMAX presentation because of their large-scale visuals. The IMAX presentation of these films greatly enhances the visual experience and the sense of immersion in the viewer. - The large-scale nature of IMAX films makes them more attractive to advertisers and exhibitors. This, in turn, results in higher ticket prices for the films. - The high ticket prices for IMAX films, in combination with high-profit margins, result in higher revenue for the IMAX brand. - The high revenue from IMAX films provides IMAX with resources to continue the expansion of the IMAX brand and theatre network. This expansion is the key to the continued growth of the I-MAX brand. - In addition to this, IMAX is also exploring opportunities to venture into new segments. This will further boost its long-term growth.
Biggest Danger Lurking Ahead: Virtual Reality
The VR industry is expected to grow at an astonishing pace in the next few years. The total revenue generated by this industry is expected to be ~$40 billion by the year 2022. The VR market is growing at an exponential rate, with the market size has grown from just $89 million in 2016 to $9.8 billion in 2020.
- IMAX is making the most of this lucrative market by introducing its IMAX VR experience to the customers. This experience uses a VR headset and specially designed VR content to provide an immersive VR experience. It is currently available in select IMAX theatres around the world. - VR is the next big thing in the entertainment industry. It is expected to revolutionize the entertainment sector in the coming years.
- It is evident that VR will be a serious threat to the growth of IMAX. However, IMAX has a competitive advantage over others in the VR market.
- IMAX has the brand recognition and the financial resources to expand its network of VR facilities. This will allow IMAX to create a more immersive experience for the customers. This is likely to make IMAX a formidable opponent for the VR industry.
- VR is still a new and emerging technology. This is likely to help IMAX gain more customers and beat the competition.
Netflix in Imax: A Game Changer
The streaming giant Netflix started its journey in the entertainment industry by producing its content. It has created many hit shows and movies since its inception. Netflix’s popularity has been growing at a rapid pace over the last few years. But, it was only recently that Netflix started producing full-length feature films. The first Netflix Original movie was ‘Ridiculous 6’. It was a comedic western film. The movie was produced by the famous actor and comedian, Adam Sandler. The movie received mixed reviews from critics. However, it was a commercial success and received a worldwide gross of $158.2 million. This success further prompted Netflix to produce more movies. It has been producing a lot of independent films and Hollywood blockbusters in the last few years. Netflix has recently announced plans to start producing IMAX movies. This is a strategic move by Netflix as it will help it to create more immersive and high-quality content for its customers.
Conclusion
The cinema brand Imax is one of the most popular brands in the global cinema industry. It has enjoyed significant growth in the last few years. The brand has managed to accomplish this growth by investing in new technologies such as VR and investing in more theatres around the world. The future looks even brighter for the brand as the demand for immersive cinema experiences continues to grow.
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