Imax Corporation (NYSE: IMAX) and India’s BookMyShow have announced a partnership wherein the two companies will collaborate on features films to enhance the user experience and ease of discovery for moviegoers.
Under this partnership, Imax will have higher visibility and discoverability on BookMyShow, and the latter will highlight Imax releases through targeted marketing, beginning with Dune: Part Two. BookMyShow users can also explore a page dedicated to current Imax films and locations in their cities, upcoming releases and more. This initiative is off to a strong start with Imax tickets making up 31 per cent of the total Dune: Part Two tickets sold on BookMyShow, demonstrating a demand for immersive cinematic experiences.
“Moviegoers in India continue to show a strong preference for Imax, with the company delivering its best year ever at the Indian box office in 2023,” said Imax Corporation theatre development VP Preetham Daniel. “This partnership is designed to elevate the ways our fans connect with Imax, and we look forward to exploring new innovative initiatives to ensure it’s a premium cinema experience from beginning to end.”
Commenting on the partnership, BookMyShow partnerships & revenue head Samradha Tibrewala said, “Watching movies in theatres is a cultural phenomenon deeply rooted in the hearts of millions across India, and over the past few years, we have witnessed significant growth in transactions as well as audience interest in premium cinematic experiences. We have been actively working with industry partners to create windows of opportunity for higher visibility and discoverability of their offerings on our platform, thereby creating an easy and seamless movie booking experience for various consumer cohorts part of the BookMyShow universe.”
Over the past few years, there has been an evolution in the tastes and preferences of the Indian audience in the out-of-home entertainment realm. According to BookMyShow’s recently released consumer survey report The CineFiles, incorporating cutting-edge technologies and immersive cinematic experiences has heightened the magic of the big screen. Advanced sound systems, state-of-the-art visual effects and larger-than-life screens continue to transport audiences into captivating worlds. This has further translated into the survey, with 74 per cent respondents opting to watch a movie in the theatre for the immersive larger screen and high audio quality experience. 40 per cent respondents almost always opt for premium screens, showing a significant rise in audience interest for the premium movie-watching experience.
Imax stated that 2023 was the highest grossing year ever for the company at the Indian box office. It delivered over $1 billion at the global box office for only the third time in its history. Local Indian content performed extremely well, with releases like Jawan and Pathaan helping topple previous box office records set in 2022.
