Variety reported late yesterday that AMC Theaters and IMAX will unite in bringing digital IMAX 3D to 100 existing theaters. We know from reports as well as MarketSaw's own survey that a great deal of the recent 3D Beowulf movie's box office is indeed represented by 3D enabled theaters like Real D and IMAX. This move will essential double the number of IMAX theaters available. Note that this is the new digital IMAX 3D technology, not the older and much more expensive (in production and distribution) IMAX film.
IMAX will drop $500,000 a pop for the locations' projectors while AMC will reno 33 of the highest performing theaters with larger screens and seat reconfigurations. IMAX is anxious to grab the 3D bull by the horns after losing close to $17 million last year. The extra $35 million a year from these locations should assist in stabilizing the company. Of course the 3D onslaught of movies on the horizon won't hurt either.
Pragmatically, the 3-D movie industry has been proven to be legit (Beowulf, etc) and now openly through investments. Momentum has been building and you can expect to see much more excitement in the 3-D world in the coming months. Rollout of the first 50 theaters begins in July 2008, then 25 more in both 2009 and 2010.
Real D has been very busy lately as well. Check out there theater conversions coast to coast right here.
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