IMAX Private Theatre: The Target Market
It’s no secret that the IMAX Private Theatre is targeted at the uber wealthy. After all, the price tag is $2.25 Million for the IMAX design, equipment and installation support. One also has to build the theatre shell and furnish it, including the seats, lighting, floor and wall coverings and so on. The price can increase up to $3.0 Million. Like the first IMAX IPT ad said; “Everyone has experienced it, but few will own it”.
As mentioned above, the core IMAX businesses are deploying IMAX theatres around the globe and licensing IMAX technology to film makers for the creation and remastering of blockbuster and documentary films.
With the recent release of Teenage Mutant Ninja Turtles, and with The Equalizer and Dracula Untold coming out soon, IMAX has had a hand in more than 225 blockbuster movies and more than 300 exceptional documentaries. 2013 also marked a year during which IMAX digitally re-mastered films in local languages around the world, with nine new films; five in China and one each in Japan, Russia, France and India. And so far in 2014, four new Chinese language IMAX films have been released.
On the commercial theatre side, as of June 30, 2014, IMAX had installed 868 theatres around the globe and had a backlog of new or refurbishment theatre orders in excess of 400, an almost 50% higher backlog than last year. IMAX currently has the ability to install approximately 120 new theatres per year, so the current backlog represents over three years of business activity. IMAX currently estimates that there is room for at least another 1,000 commercial theatres around the world.
Although the bulk of IMAX theatres are in the US, there are installations in 59 countries, with China being the major focus of growth over the last few years reaching 160 theatres installed this year.
The IMAX Private Theatre focus for 2013, 2014 and the early portion of 2015 has been and will continue in the traditional home market of North America, to firm up the design and work out any of the product bugs.
IMAX intends to install an estimated 10 new IPTs per year for the foreseeable future. And the focus of the IPT marketing effort will expand to include the international markets, particularly those of Russia, Europe and the Middle East.
Let’s shift to the actual IPT and the first installation and then follow up with what’s new for the IPT and IMAX in general.
The First IMAX Private Theatre Installation
The IMAX Private Theatre System includes: • IMAX DMR (Digital Re-Mastering) movie conversion technology, which results in higher image and sound fidelity than conventional cinema experiences; • advanced, high-resolution dual 4K projectors with specialized equipment and automated theatre control systems, which generate significantly more contrast and brightness than conventional theatre systems; • large screens with a complex compound curvature and proprietary theatre geometry, which result in a substantially larger field of view so that the screen extends to the edge of a viewer’s peripheral vision and creates more realistic images;
This is the actual plaque that was installed on the outside of the first IMAX Private Theatre (IPT) in Beverly Hills (December 2013).