Rich Gelfold, CEO of Imax, says the company expects to have 200 screens wired for live events by the end of the year, up from 79 now, while it plays with content other than music and ticket pricing.
He spoke with Deadline the day after the firm posted good quarterly profitability and the day after a live feed of Kanye West's Donda 2 event in Miami sold out in 47 of 60 Imax theaters, headed by the 980-seat TCL in Los Angeles. With only 48 hours' notice, it grossed approximately $313,582 in total, for a per-screen average of $5,226.
That will be followed by a special event featuring Halsey (If I Can't Have Love, I Want Power), as well as screenings and live Q&As of Macbeth, West Side Story, and The Beatles: Let It Be. Return to the Rooftop
Wiring theaters isn't very expensive, according to Gelfond, but it does necessitate Imax proprietary technology to maintain visual quality and appropriate cables to accommodate bandwidth. "You can't do the world in a snap of a finger," he says, but he hopes to have 200 screens by the end of the year and 500 or more "over time." Imax cameras are also used to film the events.
Each quarter, the company will arrange one major event and several smaller ones. The strategy is currently "somewhere between putting up a comprehensive slate and testing ideas," he said during a conference call. It primarily focuses on music, but it is also interested in comedy and live sports, and it is in the process of putting together a slate deal. It plans to test ticket prices on events.
"There is a very vast market out there [for events], our technology is highly unique, and it will be a significant contribution to our company over time," he explained.
