As The Odyssey continues to soar at the box office, IMAX now faces an unexpected problem. Due to the hype surrounding Christopher Nolan‘s latest masterpiece, the demand for IMAX 70mm screenings has increased exponentially. Since IMAX 70mm is only available in 40 cinemas globally, several movie houses are already hosting 24-hour screenings just to meet the demand. Even though the shortage of IMAX screens is a problem, the company is actually treating this as an unexpected win over streaming.
The Odyssey was written and directed by Nolan, based on the Greek poet Homer’s classic poem of the same name. It follows Odysseus and his crew as they embark on a perilous journey home to Ithaca. The epic drama stars Matt Damon, Tom Holland, Zendaya, Anne Hathaway, Robert Pattinson, Charlize Theron, Lupita Nyong’o, Jon Bernthal, Himesh Patel, Samantha Morton, John Leguizamo, and more. So far, it has a 95% Fresh score on Rotten Tomatoes, while its Popcornmeter score is higher at 97%.
The Odyssey’s IMAX success is a huge win over streaming
Nolan’s The Odyssey has become one of this year’s must-see theatrical experiences. Many moviegoers want to see the new epic movie in its full 70mm glory, just the way Nolan intended it, even if this means they have to wait weeks for an available schedule or travel long distances. This shows that the audiences are willing to pay a premium and go out of their way just to experience a major theatrical event, which streaming can never replicate.
“Streaming hasn’t weakened our business; it has strengthened our value proposition. Audiences are increasingly looking for the best possible experience when they’re leaving their homes, and that’s exactly where IMAX wins,” an IMAX representative said in an interview with Fortune.
The Odyssey’s success will set a precedent for future releases in IMAX 70mm as many filmmakers and studios will want to repeat this kind of theatrical success with their future movies. It’s up to IMAX whether it will continue to utilize its exclusivity and limited screens to its advantage, or whether it will give in to demand by producing more screens for audiences.
