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IMAX Holds Sales Talks
Big bucks for the big screen // Illustration by Kate Walker
IMAX, the leading premium-format theatrical exhibitor, is reportedly exploring a sale.
The Big Picture: Americans are finally returning to theaters after years of COVID-related attendance declines, and they’re actively seeking out the ultimate big-screen experience. That has led to an explosion in IMAX’s popularity and influence. As a result, a potential sale could spark the biggest bidding war the exhibition industry has seen in quite some time.
Behind The Deal: Who wouldn’t want the biggest screen money can buy?
IMAX is valued at roughly $1.85 billion, making it a relatively small acquisition target for interested buyers.
And there appears to be no shortage of potential suitors, including major studios (which can now own theaters following a change in the law), streamers, tech giants, and private equity firms.
Although IMAX has proactively approached some buyers about a potential deal, discussions remain in the early stages and may not ultimately lead to a sale.
Closing Thoughts: The company is on a tear right now, accounting for 5.2% of all domestic ticket sales last year despite representing just 1% of available screens. And when it comes to major event titles like Sinners and Mission: Impossible — The Final Reckoning, IMAX drove 20% of ticket sales during their opening weekends. It’s no surprise that every Hollywood studio — including streamers like Netflix and Apple — is fighting to book their screens... or create a premium format of their own when they can’t.
It’s also no surprise that IMAX’s shares have climbed 40% over the past year and jumped another 11% after news of a potential sale broke. The company is both a hit and a hitmaker.
Coming Soon: With IMAX investing more heavily in filmmaker relationships and proprietary camera technology, a forward-thinking studio may look to acquire the company as a way to attract top-tier talent.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.