Last month we reported on the declining share prices that IMAX was experiencing as a result of movie-goers preferring to visit theaters with those new plush leather recliners instead of IMAX’s large-scale screens. In addition to the seating aspect, the overall interest in 3D versions of films appears to be waning with the general public as well.
To help combat this decline in viewerships, IMAX has announced that it will be shifting its focus away from 3D versions of new releases and back to the more traditional 2D versions.
Imax looks to be jumping off the 3D bandwagon.
The giant-screen exhibitor on Wednesday said it will play more digital 2D versions of Hollywood movies domestically, given a “clear preference” from consumers for 2D in North America, according to Imax CEO Richard Gelfond.
Imax Entertainment CEO Greg Foster confirmed during an analyst call that his company will start playing fewer 3D versions of movies and more 2D versions. “The demand for 2D films is starting to exceed 3D in North America,” Foster said.
For example, the domestic release of Bladerunner 2049 will be shown in Imax theaters only in 2D this fall.
And, to drive more revenue from its theater network, Imax will play more movies for only one week on its screens. “We intend to shorten the length of play that we allot many films, which helps keep the content on screen fresh,” Gelfond said.
