Topline

IMAX shares on Monday climbed to an all-time high after the large-format cinema firm announced “The Odyssey” headlined its highest-grossing month ever, with CEO Rich Gelfond saying demand for Christopher Nolan’s flick “continues to defy gravity.”

Key Facts

Shares of IMAX jumped 4.9% to just over $50 as of Monday afternoon after hitting an all-time high of $50.72 earlier in the session, extending a more-than 30% surge since “The Odyssey” debuted in the U.S. on July 17.

IMAX on Monday reported $257 million in global box office revenue for July, its highest-grossing month in its 50-year history, with $221 million generated from “The Odyssey,” which the firm said became the fastest film ever to cross $200 million in global IMAX receipts.

Gelfond, in a statement, praised “The Odyssey” as a “singular achievement in filmmaking” whose “box office trajectory is no less groundbreaking” and “seems intent on shattering all IMAX box office records in its path.”

crucial quote

“We are all witness to history with Christopher Nolan’s ‘The Odyssey,’ which seems intent on shattering all IMAX box office records in its path as its journey at the box office and around the world continues,” Gelfond said. “[The film] is a singular achievement in filmmaking and its box office trajectory is no less groundbreaking: it continues to defy gravity in a way few films ever have, making it virtually impossible to predict how high it will ultimately soar.”

what to watch for

“The Odyssey” has yet to debut in major markets China, Japan and South Korea, which could further accelerate IMAX sales.

key background

“The Odyssey,” which Nolan shot entirely on IMAX film, quickly became the filmmaker’s largest-ever global opening, bringing in more than $260 million in its first weekend. Only 25 theaters in the U.S. are capable of showing “The Odyssey” in the coveted IMAX 70mm format, however, and showtimes to view the film at its intended aspect ratio sold out several weeks in advance for some locations. Tickets for the earliest screenings went on sale one year before its release, and as the film rolled out, some IMAX theaters introduced 2 a.m. and 6 a.m. showings to meet high demand.

tangent

“Spider-Man: Brand New Day” pulled in $360 million in its domestic debut, marking the largest-ever opening weekend in box-office history, ahead of “Avengers: Endgame.” The Marvel Studios film already set the record for the largest preview haul, bringing in $72 million, and the biggest opening day box office at just under $170 million.