'The Odyssey' is cleaning up for IMAX. Expect the momentum to continue - CNBC

What the report says

CNBC reported that Christopher Nolan and Universal’s “The Odyssey” has become a major box-office driver for Imax, strengthening investor expectations that the large-format theater company can hit a record $1.4 billion in global box office this year. Imax shares rose more than 8% Thursday after the company said it remained on pace for that target, despite concerns tied to Netflix and Greta Gerwig’s “Narnia: The Magician’s Nephew” moving from November to February 2027.

According to CNBC, “The Odyssey” delivered $52 million in global Imax receipts during its first weekend. Although Imax venues made up under 1% of total screens, they accounted for 20% of the film’s worldwide launch. The opening surpassed Nolan’s “Oppenheimer” Imax debut by 47%; that 2023 film ultimately earned more than $190 million through Imax. Imax CEO Rich Gelfond also told investors that Monday and Tuesday sales remained strong, with Tuesday marking the company’s best-ever Tuesday performance.

CNBC said the company is also pointing to a strong upcoming slate, including “Spider-Man: Brand New Day,” “Resident Evil,” “Digger,” “Godzilla Minus Zero,” “The Adventures of Cliff Booth,” “Street Fighter” and Denis Villeneuve’s “Dune: Part Three.” Earlier “Dune” films were notable Imax performers, with the first earning $61 million and the sequel $147 million globally in Imax theaters.

The report also linked box-office momentum to expansion demand from theater operators. Imax installed 38 systems globally in the second quarter, its highest second-quarter total in a decade, and reported a backlog of 421 screen contracts.