Vue Cinemas CEO Criticizes IMAX for Netflix’s Exclusive Narnia Deal
Tim Richards, the founder and CEO of Vue Entertainment, the largest privately owned cinema operator in Europe, recently penned a public letter criticizing the contested agreement that Imax struck with Netflix. This deal granted Greta Gerwig’s upcoming film “Narnia” an exclusive two-week run in Imax theaters, a decision that sparked discontent within the exhibition industry. This letter, shared exclusively with Variety, represents the first formal expression of this disgruntlement.
Richards argued that both audiences and the industry stand to lose from this deal. He cautioned against Imax CEO Richard Gelfond’s pursuit of further exclusivity arrangements, warning that such actions could be even more detrimental. According to Richards, this move risks undermining the very foundation that supports the success of theatrical releases. He highlighted that Gerwig’s “Barbie” achieved immense box office success without an Imax release, also suggesting that Imax is no longer the leading Premium Large Format technology provider.
