Analysis Of The Concept, Successes, Challenges And Perspectives Of IMAX Company

Analysis, Pages 6 (1491 words)

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DETAILS OF THE IMAX AND THE CONCEPT

Everything started when a little gathering of Canadian test movie producers met up to deliver a multi screen film establishment at EXPO 1967 in Montreal. The establishment was a piece of an opposition to make the central genuinely colossal screen film understanding. The movie producers did it by matching up nine projectors together. It was an enormous innovative test. As they pulled it off the eager group that would one day begin the organization to be known as IMAX.

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IMAX was conceived within 3 years. Its introduction to the general public was concentrated on a particular setting. Purpose built theaters were formed and set in galleries, science centers, and few fundamental business destinations. Its essential enduring projection structure was presented at Ontario Place Cinesphere in Toronto in 1971, where it remains in movement-showing a film regarding the authentic setting of the city. It expanded further, with the advancement of new technologies including the IMAX Dome and IMAX 3D.

In 1994 IMAX was introduced to the public, which was around a similar time the organization started to see the development potential in Hollywood content. Dipping a toe in, the organization built a couple of theaters in multiplexes crosswise over North America. However, the new business model long soon runs into jeopardy. Graeme Ferguson and Roman Kroitor, two of the IMAX founders, were still producing most of the films in IMAX screens. They could not make enough motion pictures to fill the more significant part of the accessible spaces in the multiplexes.

At that point, Hollywood would not influence IMAX motion pictures until the moment when lots of venues were constructed. IMAX went up against a "chicken and egg" issue. To understand it, IMAX went to the lab and imagined a continuous innovation called DMR – or Digital Re-mastering. This is the way towards transforming an effectively solid Hollywood film into a fantastic IMAX blockbuster. It enabled IMAX to work with different directors on many approaches to upgrade a motion picture and to change the immersion, difference, shine and a score of different factors in mainly every casing. It implied the studios could change their most energizing motion pictures into consideration all the more energizing IMAX motion pictures. The first film to utilize this procedure was Apollo 13, and it met with immense praise many months after the motion pictures single discharge. From that point onward, Hollywood's sentiment with IMAX bloomed. The rest, as it has been said, is history. Today, IMAX has extended everywhere throughout the world. Its new advanced projection and sound frameworks - joined with a developing blockbuster film slate - are energizing the quick extension of the IMAX organize in setting up business sectors like North America, Western Europe, and Japan, and countries in which the markets are developing like China and Russia.

IMAX’S PRODUCTS AND SERVICES

IMAX Company is one among the major companies which manufacture IMAX cameras, projection systems and motion pictures. They also provide 3D motion cameras named as IMAX 3D used for shooting high budget movies in 3D. Their cameras are being used in top Hollywood movies no matter it is in the under ocean or on top of top of mountains or even at outer space. In addition, IMAX theaters are available throughout the world. It is located in both commercial multiplexes and educational institutions. They also have been creating award winning movies which are educating people from decades which focus people of all age groups. Originally this company was more focuses on institutional large screen theater market and as a result produced and distributed more documentary films .But from last few years company changed its focus towards commercial oriented enterprises. Moreover, one of the interesting services they provide is 2D to 3D conversion of movies. They have a technology named as IMAX 3D conversion which enables live actions of movies to be converted into stunning 3D scenes. This technology has been successfully applied to many Hollywood movies for instance, Superman returns, Harry potter-The order of phoenix and Harry Potter-The half-blood prince and many more.

IMAX Post/DKP Inc is used for quality control and post production purposes by large format films. IMAX Post/DKP Inc. is an awarding winning post –production image and quality control facility. It strive for excellence in their services due to which 80 percent of all large format films use IMAX Post /DKP Inc for post –production and quality control either they are produced by IMAX or third party.

IMAX’S SUCCESSES AND CHALLENGES

Growth of IMAX across the globe was tremendous, obviously, it has achieved a lot of successes and being a commercial organization, it has some probable challenges faced too.

Innovation of multiscreen technology over the regular projector was a keen breakthrough in the cinema industry, as this was the latest method to watch a movie in 3D, as in real life. Although the budget invested was a bit complex than the usual one since here they had used 3 projectors/cameras for the process, yet it was one of their successful toasts.

Huge crowd was influenced by their commercial brought out of Dome planetariums, a collective working of cameras and elevators, which later became much popular in schools and universities as their part of studies about planets and stars.

The Launch of Digital IMAX was a potential success in their economic development. 2K was the most initial one, it enhanced their growth in higher levels which eventually led them to launch 4K and such higher versions and technologies.

IMAX today, is spread across the globe. IMAX has 1302 theatre systems among which there are 1203 commercial multiplexes, 13 commercial destinations and 86 institutional settings, spread over in 75 countries. These figures itself proves that the company is successfully growing at a higher rate of success.

AWARDS & FUTURE ANNOUNCEMENTS

IMAX has achieved Oscar for their work on scientific innovations for better movies. The recent news shows the possibilities of new technological launch in cinema industry by IMAX in the form of IMAXShift, Virtual Reality, etc.

CHALLENGES TOUGH COMPETITION

One of the main challenges of IMAX is the competition in the commercial market, especially in China. China’s technology and its leading film company DMAX has brought out a giant screen movie presentation technique which became hard on most of the other entertainment industry and this could be a significant challenge. Also, the tickets charge is very low in china when compared to the dollars spent in American and European countries.

Most of the people doesn’t show up for movies in big theatres for a set of reasons. Lack of mind blowing movies, Availability of pirated copies through internet, climbing up the rates of shows, people gaining interest in stage shows, drama and plays, could be the possible reasons for less legs in the box office. This is becoming more challenging to them as they have no control over this factor and probably it sounds like a natural calamity for all distribution industries.

Technologies are exponentially developing in last two decades with lot many scientific innovations, technical inventions, etc. applicable to sectors of industries including film industries. So, it is bottleneck for them to keep updated about all the latest out comings and how efficiently one can use it for their progress. Basically, adapting according to the changes have become a dominant challenge for IMAX and such level of cinema-based industries, as the innovative technologies are expensive and needs continuous training sessions, which again is hefty on the company.

IMAX’S CURRENT POSITION IN THE MARKET

The success of IMAX has begun with competing other brands; they are mainly in movie sector and some in the theater. IMAX is leading the sector in Premium Large Format (PLF) against its competitors around the world. Regal Entertainment Group has introduced their Regal Premium Experience (RPE), an extra-large screen presented as a technologically superior experience to watch a movie. Regal Entertainment Group and other smaller companies might have larger movie theater network and cash flow but in order to be at the same level with IMAX, they will still have to do better. Thus, they are trying to lower the movie theater prices to compete with IMAX and get more market share in the sector. As a result of that in 2017 IMAX, has reported net loss of 1.7 million dollars with a revenue of 87.8 million dollars. The movie industry is also under pressure to shorten the release period before movies are available to the public, which has resulted in concern of lower profits for exhibitors. Hollywood studios also have been pushing to release movies for “at-home” which is on demand viewing within weeks of their theatrical releases. IMAX’s oldest and the biggest rival is the Dolby. Even though they are not doing exactly the same they have been in competition for years but recently they both facing with another era, Virtual Reality (VR). IMAX has entered to VR sector with introducing IMAX VR in Toronto. People are getting more interested in virtual reality each day.