As everyone expected, the premiere of The Dark Knight is going absolutely batshit insane. In particular, it seems as if the full movie title should be “The Dark Knight of IMAX”, because that’s all anyone wants to see it on.
With over $3.5 million spent on pre-sale IMAX tickets, the owners of the super big screen are getting a lot of publicity from all the Batman buzz.
Director Christopher Nolan shot many of the scenes from the movie using specially designed IMAX cameras to enhance the visual effect. This is leading scores of people to claim ‘You can only really experience this film at an IMAX theater’. And with the film showing in 94 IMAX theaters throughout the country (many of which will be continuously showing the film for 72 hours straight to sell out crowds), you can get an idea of the money this movie could bring in.
Sounds great for everyone who got in early on the IMAX stock, right? But – get this – the IMAX company won’t see one cent of all the big potential record-breaking ticket sales.
Henry Blodget at Clusterstock, brings us all back down to reality:
IMAX (IMAX) stock zooms 30% this week on “Dark Knight” frenzy, as we thought it might. But hurry up and sell while you still can. Why?
- The IMAX company doesn’t share in box office revenue.
- Oldest adage in Wall Street book: buy the rumor, sell the news.
Still, one could argue the stock will continue to gain based on the publicity this film and others (Journey to the Center of the Earth in 3-D, for example) will bring.
Either way, I need to try and get into one of these screenings this weekend. I was awoken last night by text messages from friends at 3 am (when the midnight showings got out) saying “that was AMAZING!”. So I guess in order to get some sleep in the future, I’m going to have to see this thing.
Clusterstock: IMAX soars on Dark Knight mania, July 18, 2008
CNBC: How Big A Movie Will It Be?, July 18, 2008