Despite only selling "a few" of its $2 million IMAX Private Theatres to date, CEO Richard Gelfond says the experience has provided an entry point into the home theater market. IMAX now wants to find the right partners for a lower-cost solution.
IMAX recently bought a stake in Prima (Prima Cinema's same-day-as-theaters movie player) in return for both a Chinese distribution exclusive as well as a technology deal. IMAX use the know-how from the Prima Cinema Player in its Private Theatre systems allowing downloadable, IMAX-quality theatrical releases at home.
He told investors, “In parallel, we’ve been putting together the pieces to create an integrated, end-to-end home theater solution at a lower price point market that would include hardware, software and content. To this end, we are in the midst of identifying the right partners for such an endeavor. Rest assured that cash flow growth is our priority, so if we do anything, it will be done in a measured way that doesn’t risk significant capital.”