Chief Executive Officer, IMAX Corporation
'The Odyssey' debuts with 'CULTURAL PHENOMENON' numbers, IMAX CEO says
IMAX CEO Rich Gelfond discusses the record-breaking theatrical debut of the Christopher Nolan film on 'The Claman Countdown.
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 (34 segments)
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Interviewer0:00
Everybody sign on to a Chinese model.
Thank you very much. A journey worthy of the Greek gods. Christopher Nolan not only proving ancient hero still has blockbuster size hips but also smashing records for IMAX. We know the technology and movie screen giant reported a record-breaking global opening weekend for the film that delivered $52 million with first-ever theatrical release shot entirely with IMAX 70-millimeter film cameras but wait until you hear what's been happening since opening weekend as of yesterday. They shot 2.1 million feet of IMAX film to make The Odyssey and collaborated with IMAX to develop next-generation camera and apparently not only is it working in the opening weekend but on a Monday, no less, wait until you hear the numbers. IMAX CEO, Rich, we know opening weekend was incredible. What did the IMAX screens do yesterday, the first day of the week, Monday?
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Richard Gelfond1:11
It set a record for opening weekend at $52 million and Monday is traditionally 10% of the weekend, the formula you use. This Monday was double that, 20% of the weekend and we did $12 million globally Monday. We know in real time how it's tracking and the numbers for Tuesday look similar to Monday numbers and I think people will be surprised. They always say does the movie have legs? We will find out. We already found out, the movie has legs.
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Interviewer1:48
Legs, arms, parachute strapped to its back and zooming away.
A cultural phenomenon and that's where IMAX comes in. Chris Nolan made a brilliant movie and without the movie, it wouldn't be anything but IMAX is a booster to that movie and the frenzy over having to see it in IMAX and wherever you go, people are talking about it, debating Odysseus and the best one then dial, was she real, and illusion?
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Richard Gelfond2:28
She was real and illusion but to me, Cyclops. Wait until you see the Cyclops if you haven't.
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Interviewer2:33
Wait until you see the Cyclops if you haven't. Let's go back to Monday, what showing times were sold out?
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Richard Gelfond2:38
Midnight, 3:00 a.m., 6:00 a.m. People I have not heard from in years were saying remember me? I'm in town. Called to say hello. Do you have an extra pair of tickets? It's a frenzy, no other word to put it.
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Interviewer3:01
The new technology for these cameras. You have had IMAX cameras before and Chris Nolan shot the incredible movie in those cameras and Oppenheimer, some of it with that but talk about the tweaks to the camera because of special requests.
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Richard Gelfond3:16
It's more than tweaks and special requests. Chris called me a year ago in February, 2024 and said I want to make a film in IMAX but the camera is not quiet enough, quiet enough, I need more rejection and he gave us a list of ten to fifteen things and he said I need these done, I will make a movie on IMAX so our team in Canada did a fantastic job, engineers and optical scientists so by August we already showed how it looked and he gave us the green light. In October, Chris was in the field and L.A. testing it and bringing in boats and helicopters and we met the challenge and it wasn't easy to do, it took a lot of resources but it worked in the financial results and aesthetic results speak for themselves.
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Interviewer4:16
Are you in the position to pick up the phone and say just get it done, I don't care what it takes?
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Richard Gelfond4:22
I said that to the IMAX team. I said no problem but have a few more obstacles that we overcame.
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Interviewer4:34
What other films are we going to see this technology and?
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Richard Gelfond4:39
IMAX film has become more ubiquitous, but one that's filming with the cameras coming out Christmas is June 3. A well-known filmmaker, did fantastic and they've sold out a lot of shows months and months in advance so what is it unique is when we have had breakouts before, they were not followed closely but I am confident June 3 will break out as well.
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Interviewer5:19
I understand 40 or 41, 70 millimeters screens out there in the world, is that correct?
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Richard Gelfond5:27
That's the number.
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Interviewer5:30
How quickly are you working to change that?
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Richard Gelfond5:31
The issue is you cannot change it that easily, because you have to build a huge box that has like 400 seats and usually that cannot fit, it has to be a new build and then you need projectors which were built originally 50 years ago, a lot of the parts are out if you so from Oppenheimer to Odyssey, we had 40% more screens so we try to find more, but it's almost like Rolls-Royce, the arts, the economic model, one print, the Odyssey cost 500 -- $50,000. 500, forget it. [Laughter] $50,000. Limited locations were economics work and we are always looking for new ideas and building it out.
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Interviewer6:28
Is it possible, because there's so much discussion with consolidation in the movie industry, about the hold on Warner Bros. Discovery merger because everybody is claiming, Rob Fonda, Attorney General of California and other attorneys general say they will not produce as much content, is it possible this movie may change that trajectory because it's been done so well and is getting such great response in the theater?
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Richard Gelfond7:03
I expect the movie to create more demand for IMAX film releases and we are working on some things that I think will come together the next month or two that will be positive but I think one movie, no matter how big it is, is too much to alter the course of Hollywood short run.
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Interviewer7:23
Are you worried those consolidations will put out less content good for IMAX?
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Richard Gelfond7:28
David Allison has said put out as much content as they used to put out. If he danced by that --
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Interviewer7:37
When he was running water that the same thing and came in with fewer films.
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Richard Gelfond7:42
I like to be an optimist and take people at face value so based on what they say, I think so, but history has showed different results so I hope everybody lives up to what they said.
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Interviewer7:59
Before we go, three week exclusivity on IMAX screens.
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Richard Gelfond8:05
We've already sold out week seven and eight in London, so it will play for months in certain theaters.
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Interviewer8:13
I bring the three week up because supposedly there's another AI made version of Odyssey and it's coming out I think in the next couple of weeks, what do you make of that? We have the director when he did this other movie, what do you say to that? Chris Nolan film will be amazing, it's a different, less expensive way to do content.
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Richard Gelfond8:45
I can't comment until I see what it looks like, I probably will not watch it. If he saw Chris Nolan version, the cast, cinematography of his brilliance as a director and screenwriter, I think it will be hard to replicate. I've seen this one, two and a half times so I don't think I will have time to the next one. [Laughter]
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Interviewer9:12
I love me Cyclops, I felt sa-
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Richard Gelfond9:16
That was my favorite scene also.
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Interviewer9:18
Me too.
Rich, thank you. Congratulations.
Big deal and the stock, which for a while was between 12 and $21, I'm talking for more than a year or two now well above that so it's done well over the past year.
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Richard Gelfond9:34
Financial results have su