CNBC's "Closing Bell Overtime" discusses the premiere of Disney's latest "Avatar" film and its impact on IMAX as well as expectations for upcoming theatrical releases with Rich Gelfond, IMAX CEO.

Hollywood

IMAX reported its biggest opening weekend of 2025 with Disney's Avatar: Fire and Ash, which earned about $90 million domestically. While the film's overall box office performance was below analysts' expectations, it marked the fifth largest opening in IMAX history and contributed to a 46% year-to-date increase in IMAX stock.

CEO Richard Gelfand noted that audiences are increasingly seeking premium viewing experiences for major blockbusters, with IMAX capturing a significant share of the market. The company expects continued growth in 2025 and 2026, driven by a strong slate of anticipated films and ongoing demand for high-quality theatrical experiences.

IMAX CEO on best opening weekend of 2025

because Disney's Avatar Fire and Ash bringing in about 90 million dollars over the weekend in the domestic box office that was lower than analysts expected about halfway between the first and second films openings but this one did much better for IMAX delivering the biggest opening weekend of the year fifth biggest in IMAX history according to the company SAC is up 46 percent so far this year. Joining me now is IMAX CEO Richard Gelfand. Richard it's great to have you on. Nice to be with you Morgan. So so we just talked about an opening weekend that was less than analysts expectations but it was strong for IMAX. Walk me through it. Well I think the world is really if anything was proven in 25 in the couple of years before that people are seeking out premium experiences especially for blockbuster type movies and Avatar and IMAX kind of have a great history together. Our two biggest films of all time are Avatar. Well two of the three are Avatar 1 and Avatar 2. So I think a lot of people seek out IMAX. We did our indexing was even better on this one than it was on Way of Water. The last one we did about 15 percent of the domestic box office and about 13 percent of the global box office for Way of Water. We were closer to 12 percent of domestic and lower as well for international. So I think when it's a big blockbuster and particularly when it's Avatar people want to see it in IMAX it makes a difference. It's the filmmakers vision of the way people should see it. And it's spectacular. Is the takeaway there then that you're continuing to gain market share of the current box office even if the current box office isn't growing more broadly. Yeah I think that is the takeaway. Morgan as a matter of fact before Avatar open this had already been a record year for IMAX in our almost 60 year history. So over the last several years since the pandemic our indexing and our market share has been growing very nicely. And I think people when they leave the home they just want something different than they could get in the home. And I think IMAX really shows that. And as I said record year but we're predicting next year will be even a bigger year. It's a year with fantastic movies starting with Avatar. And then among other things it goes in to Star Wars. It goes in to the Odyssey and the the Odyssey prologue is on the front of Avatar. Then you've got doing three. You've got Greta Gerwig's Narnia. So I mean things are going very well for us. So looking at 2026 and I guess the box office more broadly and how picky perhaps consumers have been. Do you think 2026 continues to build off of the momentum in 2025. As I said for IMAX I have no question we guided to one point four billion in twenty six which is up from 25. And I think even the general box office the theatrical box office people are predicting an increase. But I do think there's kind of a fracture in the market where for special movies people want special experiences and particularly filmmakers. So when you again go into 26 you've got great filmmakers like Christopher Nolan. You've got Denis Villeneuve. You've got Greta Gerwig. You've got Jon Favreau. So when they release their movies they want it to be special. They want their vision. They want people to see the way they want to make it. And I think audiences are responding to that.

On Monday, President Trump announced a new class of Navy battleships he's calling the "Golden Fleet." The president said two vessels will be built in the short term, with plans to expand to up to 25.

Washington

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Beijing

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Nuuk

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Moscow

Ukraine Invasion

Russian general killed in car explosion

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Caracas

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Islamabad

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Damascus

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Taipei City

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Providence

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Washington County

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Council of the City of Sydney

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