Rich Gelfond, chief executive of Imax Corporation, made a pointed attack on Netflix, calling out the streaming giant over its continuing resistance toward theatrical releasing.
“[Netflix’s strategy] is flawed. It doesn’t work,” he said in Cannes on Wednesday. “Remember Netflix said they would never do advertising ever, ever ever… and now they’re doing advertising,” he said of the company’s about-turn on that issue.
He predicted the US platform might make a similar volte-face when it comes to theatrical.
“When Netflix sees how well [Killers Of The Flower Moon] does, when they see how well [Ridley Scott’s ] Napoleon does theatrically, and not just theatrically but on streaming, I think eventually they will change their minds,” he predicted.
Napoleon will be released exclusively in cinemas worldwide, in partnership with Sony Pictures Entertainment, before streaming globally on Apple TV+. Martin Scorsese’s Killers.. which has its world premiere on Saturday in Cannes, will also be given a wide release around the world via Paramount, before streaming on Apple TV+.
He said Imax was happy to work with the streamers and is collaborating with Amazon on a documentary about Navy and Marine Corps flight squadron The Blue Angels, which is backed by JJ Abrams and Bad Robot Productions and Zipper Bros Films. The film is being shot using Imax cameras. Amazon has streaming rights.
“It enabled us to have a much bigger budget to make a much better, high quality theatrical film and then make a very positive streaming experience,” Gelfond said.
His “dream” is for the streamers eventually to collaborate with him on “Imax only” releases. Noting that company grossed $250mn on Imax screens alone on Avatar: The Way Of Water, he said: “Imax is not like a niche business. It could generate a lot of a box office.”
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