IMAX CEO on Top Gun: ‘we’ve never had a summer blockbuster this highly rated’

“Top Gun: Maverick” is not just a weekend movie, but one that will continue to drive business for the theatre chains this summer, says the chief executive of IMAX Corporation (NYSE: IMAX).

Gelfond expects a very strong weekend

According to Richard Gelfond, the presale numbers suggest the Tom Cruise starrer will be one of the highest grossing movies this weekend. In an interview with CNBC’s Andrew Ross Sorkin, he said:

He expects 2022 at large to be a great year for the cinema chains as there are countless anticipated titles coming out this year, including Jurassic Park, Black Panther, Thor, and Avatar.

What’s unique about Tom Gun: Maverick?

Names like Spiderman, Batman, and Dr Strange have already had blockbuster openings in recent months, but Gelfond expects Top Gun to be different in that it will bring more than just the youngsters back to the theatres. On CNBC’s “Squawk Box”, he noted:

Theatrically released worldwide on Friday, Top Gun: Maverick is expected to be Tom Cruise’s first-ever $100 million opening. IMAX shares are down roughly 20% versus their year-to-date high in late February.