Many top athletes from around the world will appear on the big screen in IMAX theaters this summer. NBC announced that the live coverage of the 2024 Paris Olympics opening ceremony on July 26 will be shown on over 150 IMAX screens across the U.S.
Unlike previous Summer Olympics, the opening ceremony will not be held in a stadium. Instead, Olympians will travel down the River Seine on nearly 100 boats, passing famous landmarks in Paris. Gary Zenkel, president of NBC Olympics, expressed excitement about sharing this historic event with audiences at IMAX locations.
This live coverage follows the success of “Dune: Part Two” in IMAX theaters, which earned $103 million globally. IMAX’s limited-time programming, like the Olympics coverage, could attract moviegoers.
Trailers and ads for other films or events may entice them to return. IMAX tickets are priced higher than regular movie tickets.
IMAX stock has increased by nearly 6% this year and is currently trading at just under $16 per share. Analysts believe the stock is undervalued, with a price target of $25 per share. Eric Wold, an analyst at B. Riley, believes IMAX deserves a premium due to its expected flat box office performance compared to a decline in the rest of the industry.
He also noted that IMAX is expected to generate higher earnings in 2025 than in 2019. In addition to IMAX theaters, the opening ceremony will also be broadcast on NBC and Peacock.
