What’s Next for the IMAX Private Theatre?
IMAX completed the first IPT installation to rave reviews in Beverly Hills, California in December 2013. Since then, seven more theatres have been sold; three in California (in addition to the original installation), one in Arizona, two in Florida and one in India, totaling eight in all. And so as not to be like the shoe cobbler’s children, IMAX also has plans to install a full IPT at its headquarters facilities in Mississauga.
The second IPT which is underway will be installed in Bel Air, California by the end of 2014. It will be a 60 seat theatre using all of the standard IMAX IPT technologies / components and a screen size of 32 feet wide by 18 feet high … another “comfortable” home theatre.
The first IPT that was actually sold will be the third to be installed. The home is an 80,000 square foot mansion on four acres of oceanside property in Hillsboro Beach, Florida just north of Fort Lauderdale and is named “Le Palais Royale”. The house is currently for sale and listed for $139 Million, the most expensive residential real estate listing in the USA.
Construction details for Le Palais Royale are nearing completion and the theatre is currently in the design stage, with a “working plan” for 17 seats and a screen size of 22.5 feet wide by 13.0 feet high. Installation completion for the theatre is scheduled for January 2015.
The IMAX IPT Team has also received a number of requests for full IPT theatres in smaller high-rise situations. So the team is currently working on a design that can be accommodated within in a 12 foot height limitation, without compromising the IPT standards of performance. It will utilize all of the same IMAX projection and sound technologies but with a smaller screen size of 18 feet wide by 10 feet high, in a room size of 30 feet long by 22.5 feet wide. This smaller theatre size will accommodate 15 people.
While the strategy for the IPT is to look for opportunities in markets like Russia, Europe and the Middle East, new configuration opportunities are currently being explored for IMAX Private Theatres in exclusive multi-dwelling condominiums in the USA.
IMAX is also currently in negotiations with an international yacht manufacturer to install IPTs in very exclusive high end yachts.
So it appears that the demand for the IMAX Private Theatre is alive and growing, and over time will become a significant part of the IMAX portfolio.
Finally, let’s take a look at other initiatives on the go at IMAX that will impact the IPT product and should be of interest to home theatre enthusiasts.