Matrix Boosts IMAX

The New York Daily News reports on how The Matrix sequels are making a splash at IMAX:

By releasing “Matrix Revolutions” the same day as it debuts on conventional screens, IMAX will get the full impact of a mega marketing blitz funded by “Matrix” studio, Warner Bros.

“Warner Bros. is already creating a lot of buzz,” said Marla Backer, an analyst at Research Associates.

As Hollywood has tuned in, so has Wall Street. IMAX’ stock has doubled since the beginning of the year, closing Friday at $7.91.

So far fans have been willing to pay up for the big screen experience. Theatergoers who saw the Imax version of “Matrix Reloaded” at the IMAX theater in the popular Sony multiplex at Broadway and W. 68th Street paid $13 a ticket, vs. $10 a ticket at a regular screen.

“Our strategy is to offer the consumer a premium product at a premium price,” said IMAX co-CEO Brad Wechsler. But IMAX has to get more studios to sign on. It hasn’t announced a big Hollywood deal in some time.

Source: New York Daily News