Moviegoers flocked to theaters this summer for Christopher Nolan’s film adaptation of “The Odyssey,” and many insisted on seeing it in Imax. The movie, the first shot entirely on Imax film, drew superfans across continents to its 70mm format—the company’s highest-quality medium, available in just 25 U.S. theaters and 41 globally. Imax itself operates only one venue: Esquire Imax in Sacramento, California.
That blockbuster helped make July the company’s highest-grossing month ever, with $257 million in global box office, per an Aug. 3 press release. By Aug. 10, “The Odyssey” had become Imax’s biggest release of all time, pulling in $289 million worldwide in under a month.
“In the last year, I think we had an Imax awakening,” CEO Richard Gelfond said. While James Cameron’s “Avatar” in 2010 sparked a “major evolution” in demand for premium formats, recent releases like “Dune,” “Oppenheimer,” and “Sinners” pushed Imax past a “tipping point.”
A licensing model, not a theater chain
Imax’s business hinges on two streams: content solutions and technology products and services. In the content solutions arm, studios pay Imax to create and distribute optimized versions of films, and Imax collects an average 12.5% of the film’s Imax box office, according to SEC filings. That segment brought in roughly $151 million in 2025 revenue.
The technology arm earned around $251 million last year by selling, leasing, or renting Imax projection systems to theaters. “Imax operates under a licensing model—theater chains or institutions come to us and say they want to be in the Imax business,” Gelfond explained. “So we license our name and our technology. What comes with that is we design the location, help assess it, help in installation, and oversee it.”
Theaters can buy the system outright or enter a joint revenue-sharing agreement (JRSA), where Imax typically supplies the equipment and absorbs most installation costs in exchange for a percentage of box office over a long-term contract, often 10 years or more.
Premium pricing drives the model
The model works because Imax commands a premium. An Imax 70mm ticket averages $27.77, compared with the national standard of $16.30, according to data from EnTelligence and CableTV.com. That premium, and audiences’ willingness to pay it, makes Imax valuable to filmmakers and studios—and gives theaters a lucrative reason to offer the format.
Gelfond sees the 70mm experience as a luxury niche. “In a way it’s like the Rolls Royce is an amazing car, but it’s not competing with a Honda,” he said. “It’s a different audience, different price point, different marketing. There’s a place for both.”
Competition exists—Dolby Cinema and Regal’s RPX offer enhanced picture and sound—but Gelfond argues “consumers seek out Imax because it’s frankly the best experience on the planet.” He likens the brand loyalty to that of Nike or Disney.
The next big test arrives Dec. 18 with “Dune: Part Three.” Ticketing sites reportedly crashed when tickets went on sale in August, and fans lined up for hours. At AMC Lincoln Square in Manhattan—home to the city’s only Imax 70mm screen—some camped out. “Imax 70mm, when it’s shot that way, it’s worth every second, every sacrifice, every dollar,” one moviegoer told CNBC Make It.
For now, Imax’s box office run suggests the premium strategy is paying off—even without owning the theaters.
Source: www.cnbc.com — https://www.cnbc.com/2026/08/29/imax-revenue-odyssey-box-office.html
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