Imax is offering to bring the magic of movie watching on its iconic screens to your home, provided that you have about $5 million. According to Bloomberg, the company is targeting its Imax Private Theatre to high-net-worth individuals all around the globe.
The construction of a screening room works best for customers who have the space to design a theater or build-out.
“At more than 10-feet tall, these home systems require rooms that can be devoted to the installation or built to accommodate one,” stated the article. “A majority of sales so far have been for newly built homes and targeted to developers; the company has indicated that the roll-out has faced some headwinds from slowdowns in construction and real estate.”
The basic system is a theater of up to 75 square meters called “Palais” that costs about $400,000. The set-top box and film rentals cost extra. For buyers looking to get a bigger space, they can choose the “Platinum” system, which accommodates up to 40 guests and costs about $1 million. There are also plans for a smaller version, “Prestige,” that is about half the size and price of “Palais.”
“It’s not just about uber-opulence, its also about privacy,” said Lucie Greene, worldwide director of JWT’s Innovations group. “Visibility in public spaces, and in the digital space, and public knowledge of their whereabouts is increasingly something [ultra-high-net-worth individuals] are mindful of and spending money to step away from.”
According to an Imax spokesperson, after a showroom in Shanghai opened in June 2015, the company and TCL Corp announced 130 screens had been sold in April of this year. Now, more screening rooms will be opened in China, Dubai, and North America by the end of this year.