Chief Executive Officer, IMAX Corporation
IMAX CEO announces possible partnership with Paramount on future films
IMAX CEO Rich Gelfond discusses the diversity of films nominated for 2026 Academy Awards, Paramount’s acquisition of Warner Bros. Pictures and more on ‘The Claman Countdown.’ #fox #media #breakingnews #us #usa #new #news #breaking #foxbusiness #theclamancountdown #imax #richgelfond #davidellison #warnerbros #paramount #hollywood #movies #film #entertainment #business #economy #mediaindustry #academyawards #oscars #streaming
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About Richard Gelfond
In July 2026, Imax CEO Richard Gelfond discussed the record-breaking performance of Christopher Nolan's *The Odyssey*, which he said delivered a global opening weekend of $52 million for Imax and a Monday gross of $12 million, double the typical Monday-to-weekend ratio. Gelfond stated that the film was the first to be shot entirely with Imax 70-millimeter film cameras, and that Imax collaborated with Nolan to develop a new, quieter camera, which he described as a "blimp" that enables close-up shots. He noted that Imax added screenings between midnight and 3 a.m. in 42 theaters to meet demand, and that shows in London's BFI were sold out weeks in advance. Gelfond said Imax expects 2026 to be its best year ever, projecting $1.4 billion in global box office revenue. He attributed the outlook to a portfolio of upcoming releases, including *Spider-Man*, *Dune 3*, and *Avengers*, and noted that 12 films released in 2026 were shot with Imax cameras. He added that he anticipates five or more films will be released on Imax film in 2027.
Transcript (15 segments)
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Liz0:04
Movie stars Brad Pitt. Joining us, Rich Gelfond, IMAX CEO. What makes this Oscar season different, besides there being a war?
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Richard Gelfond0:16
I think there's a lot of diversity of films, a lot of original IP. The list you went through, movies that IMAX was involved with including Sinners and One Battle After the Other and F1, they are original movies. Every year it seems the trend has been toward sequels and prequels. And for us, five out of ten nominees for Best Picture were filmed with IMAX cameras. We never had anything like that. Warner had 30 nominations, all 30 with IMAX. I think the public and people who vote for awards want blockbusters and Best Picture, and we could not have prayed for more.
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Liz1:09
Stock shows it. Watch what it has done over the last year, really impressive, trading in the 40s for so long in a narrow band between $12 and $21. That is in the rearview mirror. Let me talk about three films we talked about: F1, Leo DiCaprio, and Sinners. There is not a Marvel superhero in any one of those. Do they bring in the revenue you have seen in the past with those types of genres?
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Richard Gelfond1:50
For IMAX, last year we set a record, $1.28 billion. That was better than 2019. This year we project $1.4 billion. You look at the slate ahead: this year's Odyssey, filmed with IMAX cameras, and you have Avengers, Toy Story 5, Super Mario, and Michael. Coming up in a couple of weeks is Project Hail Mary. It is by the author who wrote The Martian, and our presales are tracking high. Just going into the blockbuster moviegoing season this year.
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Liz2:49
A question I hear from a lot of people: who do you think will win a lot of Oscars this year? It is a harder choice with a broad spectrum of different types of films out there. Who do you think has the edge?
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Richard Gelfond3:10
Looking at awards so far, One Battle After the Other, the DiCaprio movie, has gotten a big share, and Sinners as well, and Jesse Buckley has been bandied about. They're our favorite children, we're involved in so many. I'm not in the prediction business.
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Liz3:39
I get it. You brought up the 30 Warner Bros. films that had an IMAX connection. The massive story: Paramount Skydance was the winner when buying Warner Bros. Discovery. They say they will release 30 films next year. People in the know say it will be difficult.
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Richard Gelfond4:14
The industry has changed so much in ways that ordinary people don't see. For us, 40% of our box office was foreign film. The number of films has gone up. Apple did F1, that is nominated for Best Picture. Coming up, Hail Mary is by Amazon. Netflix with us doing Narnia. I don't think you could analyze the industry based on one studio, there's a lot of content. In terms of Paramount specifically, I went to see David Ellison a week ago or two, and he is adamant he will keep doing 30 films. That is their plan. We have not announced a number of new films we're looking to. We should take him at his word.
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Liz5:21
He is such a filmmaker, Mission Impossible. You are a believer, but did it surprise you that they did not go for one last round in bidding after it was decided that the Skydance offer was superior?
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Richard Gelfond5:39
I was surprised. They looked very serious, and as I said, we're doing a project with them. I saw it from the front row, I met with him. They seemed all in. I thought it would have gone at least another round. There are a lot of factors like regulatory approvals and foreign approvals that you and I were not privy to. I think their analysis: it does not make sense. Their stock went down a fair amount since the bid.
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Liz6:19
Rich, as we head to the next cycle of films coming out, dare we say, revenue that came in was better than 2019. This is pre-COVID, that was that sort of benchmark. Is that over? Are people back in the theaters? There are those who say they come in and there are a lot of empty seats. Still needs to be a better experience.
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Richard Gelfond6:45
We have to say, this year the slate is so good, better than last year's. But other than Avatar and Hoppers, as you said, I didn't realize it was a beaver. I learned something. I'm full of useless information. We're on the verge of big movies opening up. I'm certainly very optimistic about this year. I think people will want to see them. Going to movies is still a really good cultural experience. Even horror has broken out, more movies people like to see with their friends. So, I remain bullish.
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Liz7:29
I went to see a movie at iPic.
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Richard Gelfond7:39
We're comfortable with our footprint. You have choices with IMAX.
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Liz7:48
Good to see you, Rich.