IMAX CEO Talks Big Business of Summer Entertainment
Last year, the summer box office in the U.S. drew a record-breaking $4.9 billion. So what’s in store for this summer?
IMAX CEO Richard Gelfond was on “Sunday Morning Futures” to discuss the movie business. He said the future looks good for the industry, in part because of big blockbuster movies. However, he noted that there is some price resistance toward "middle level movies."
“People need something really special to get off their couch,” he explained.
Gelfond said China is the biggest market outside of the U.S. for IMAX. He said that both theaters and studios are focusing on a more global audience.
Watch the full interview above.