NBC has announced that the opening ceremony of the 2024 Paris Olympics will be broadcasted live on more than 150 IMAX screens in the U.S. This marks the first time that the Summer Olympics opening ceremony will not be held in a stadium. Instead, it will take place on the River Seine, with Olympians traveling on a four-mile-long flotilla of nearly 100 boats past iconic sites in Paris.
The decision to broadcast the opening ceremony on IMAX screens is an exciting development for sports fans and moviegoers alike. It offers a unique opportunity to witness the grandeur of the Olympic Games on the big screen, immersing viewers in the spectacle and excitement of the event. While ticket prices for the IMAX screenings have not been released yet, it is expected that they will carry a premium price higher than that of a traditional movie ticket.
The move to broadcast the opening ceremony on IMAX screens follows the success of Warner Bros. and Legendary Entertainment’s film “Dune: Part Two” in IMAX locations. The film generated impressive global box-office receipts of $103 million, with IMAX screenings accounting for about 20% of its total worldwide haul. This demonstrates the potential for IMAX to attract audiences and drive box-office success.
Analysts believe that IMAX stock is undervalued and have set a price target of $25 a share, well above its current trading price of just under $16 a share. They argue that IMAX should be given credit for its expected flat box office performance compared to 2023, while the rest of the industry is projected to decline. Additionally, IMAX is the only company in its sector expected to generate adjusted earnings in 2025 that surpass 2019 levels. This optimistic outlook suggests that IMAX is a worthwhile investment and deserves a premium valuation.
In addition to the IMAX screenings, the opening ceremony will also be shown on NBC and Peacock, ensuring that viewers have multiple options to tune in and experience the start of the 2024 Paris Olympics. The combination of traditional broadcast coverage and the unique IMAX screenings allows for a diverse range of viewers to engage with the event, catering to different preferences and enhancing the overall viewing experience.
Overall, the decision to broadcast the opening ceremony of the Paris Olympics on IMAX screens is a bold and exciting move by NBC. It provides an opportunity for sports fans and moviegoers to come together and witness the magic of the Olympic Games on a larger-than-life scale. With IMAX stock expected to rise and the potential for increased box-office success, this partnership between sports and entertainment is set to be a win-win situation for all parties involved.
