Imax increases documentary funding
Imax is stepping up the production of documentaries, the Canadian company announced last week.
The entertainment giant has created a fund of up to $50m ($9m each year over five years) to co-finance as many as 10 original large-format films, this with the help of the organisation Knights of Columbus.
At the moment the company only produces roughly one documentary every 18 months – mainly for distribution at museums, science centres and aquaria. With the new fund, Imax – which has offices in New York, Los Angeles and Toronto - will be able to produce two documentaries per year.
The projects it will be producing will mainly continue to be in line with its current slate of nature and educational documentaries - topics which have proved popular for films projected onto Imax thus far.
Eventually the idea is that the fund will be self-sufficient by using the box office proceeds from the documentaries.
Robert Lister, Imax's business development officer said: "The strong support of Knights of Columbus in establishing the fund will ensure that we are able to deliver a sustainable flow of the highest quality large-format documentaries, exclusive to Imax theatres.”
He added: “A steady flow of the best new educational content will offer our institutional customers a huge competitive advantage that will serve as a catalyst for future growth."