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IMAX CEO calls ‘The Odyssey’ debut a ‘frenzy’ after $124M box office debut

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IMAX CEO calls 'The Odyssey' debut a 'frenzy' after $124M box office debut

IMAX CEO Rich Gelfond described the success of Christopher Nolan’s action epic “The Odyssey” as a “frenzy” while discussing his record-breaking blockbuster weekend debut on “The Claman Countdown.”

“The Odyssey,” directed by the renowned Christopher Nolan, stunned box offices over the weekend after its Friday debut, raking in more than $124 million in ticket sales.

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“They always say, ‘Does the movie have legs? We’ll find out.’ We’ve already found out the movie has legs,” Gelfond said Tuesday.

‘ODYSSEY’ STARS ZENDAYA, ANNE HATHAWAY AND MATT DAMON TURN HEADS AS DIRECTOR CHRISTOPHER NOLAN FACES BACKLASH

IMAX CEO Rich Gelfond

IMAX CEO Rich Gelfond visits FOX Business Network’s “The Claman Countdown” at Fox Business Network Studios on July 21, 2026 in New York City. (John Lamparski/Getty Images / Getty Images)

The nearly three-hour action epic is adapted from Homer’s 3,000-year-old poem “The Odyssey” and was filmed exclusively on IMAX 70mm film cameras.

“Chris Nolan made a brilliant movie, and without the brilliant movie there wouldn’t be anything,” Gelfond said. “But I think IMAX has been like a booster to that movie.”

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Gelfond said the doorbuster movie sold out both late night and early morning show times with moviegoers racing to watch the film’s A-list cast, including Matt Damon, and Zendaya, on the big screen.

MATT DAMON REFUSES TO PUT BODY IN ‘DANGEROUS’ SITUATIONS FOR HOLLYWOOD ROLES AFTER TURNING 50

the odyssey cast

Charlize Theron, Samantha Morton, John Leguizamo, Tom Holland, Matt Damon, Anne Hathaway, Lupita Nyong’o, and Zendaya attend the premiere of “The Odyssey” presented by Universal Pictures on July 14, 2026 in New York City. (Photo by Mike Coppola/Getty (Mike Coppola/Getty Images for Universal Pictures / Getty Images)

“What showing times were sold out?” FOX Business host Liz Claman asked.

“Midnights, 3 a.m., 6 a.ms. People I haven’t heard from in years are saying, ‘Remember me? I’m in town. Call to say hello. By the way, do you happen to have an extra pair of tickets?’” Gelfond said. “It’s really, it’s a frenzy. There’s no other word to put it.”

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The movie giant CEO said the film’s quick success is “crazy and gratifying,” telling FOX Business about the call from Nolan that started it all.

CHRISTOPHER NOLAN CONFIRMS BIZARRE ‘THE ODYSSEY’ CASTING CHOICES INCLUDING RAPPER TRAVIS SCOTT

Newly renovated theater at Regal Oviedo, where “A Minecraft Movie” is showing. (Pilar Arias / Fox News)

“Chris called me over a year ago in February 2024, and he said, ‘I want to make a whole film in IMAX, but the camera is not quiet enough. It’s not wide enough. I need more projectionists,’” Gelfond explained. “He gave us a list of 10 to 15 things. And he said, ‘I need these done, then I’ll make a movie all in IMAX.’”

“We met the challenge. And it wasn’t easy to do and it took a lot of resources, but it worked. And obviously, the financial results and esthetic results speak for themselves.”

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Gelfond expects “The Odyssey” to increase demand for IMAX films.

More than 2 million feet of IMAX film was used to make “The Odyssey” and Gelfond predicts the movie will bring more traction for his movie screen giant.

With only 41 70mm screens in the world, Claman questioned Gelfond about whether the company is looking to expand IMAX theaters.

The CEO said the screens, which take as much production care as a luxury vehicle, are hard to expand in large numbers.

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“A lot of the parts are out of use,” Gelfond told FOX Business.

“It’s almost like a Rolls-Royce. The parts, the economic model… So there are limited locations where the economics could work, but we’re always looking for new ideas and building it out.”

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Business

Oil prices to hit $120 soon? Goldman Sachs makes big prediction as Hormuz concerns loom

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Oil prices to hit $120 soon? Goldman Sachs makes big prediction as Hormuz concerns loom
Wall Street major Goldman Sachs has warned that Brent crude could surge to $120 per barrel if disruptions through the Strait of Hormuz, the world’s most critical oil transit route, persist, even as its base case assumes an eventual easing of tensions in the Middle East.

Goldman Sachs expects Brent crude to average $80 per barrel in the fourth quarter and $75 next year, assuming tensions in the Middle East ease. However, the risks to its forecasts remain “tilted to the upside” due to potential disruptions to shipping through the Strait of Hormuz and possibly the Red Sea, analysts said.

Global energy markets have faced renewed volatility this month, with Brent climbing back above $91 per barrel amid fresh fighting between the U.S. and Iran and a threat by Iran-backed Houthi rebels in Yemen to blockade shipments from Saudi Arabia. Red Sea routes have played a key role in enabling Persian Gulf crude cargoes affected by disruptions to reach buyers.

Also read: Relieved that crude has finally fallen? The real warning signs just began flashing elsewhere

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Goldman Sachs said lower global inventories in the second quarter have increased the oil market’s vulnerability to supply shocks. However, weaker Chinese imports and greater demand elasticity could limit the potential for further price gains.

Crude oil price today

Oil prices edged lower on Tuesday as markets weighed reports of renewed diplomatic efforts between the U.S. and Iran, including a proposed 10-day ceasefire, against continued military exchanges and a threat by Yemen’s Houthis to impose a naval blockade on Saudi Arabia.
A senior Iranian official told Reuters that Tehran had received a 10-day ceasefire proposal from mediators. The initiative aims to preserve the interim agreement signed on June 17 and create a path toward a lasting deal to end the conflict that began on February 28 following U.S.-Israeli attacks on Iran.
The diplomatic push followed another night of U.S. strikes on Iranian cities and retaliatory attacks by Iran’s Revolutionary Guards on U.S. military assets across the region. U.S. Central Command later said on Monday that it had launched another round of strikes on Iran.
The U.S. carried out its 10th consecutive day of strikes after President Donald Trump vowed that Iran “will pay” for the killing of American soldiers. Iran responded with attacks on Kuwait.

The conflict began on February 28, when the U.S. and Israel launched attacks on Iran. Tehran retaliated with strikes on Israel and Gulf states that host U.S. military bases. U.S.-Israeli attacks on Iran, along with Israeli strikes on Lebanon during the conflict, have killed thousands of people and displaced millions.

Also read:Oil is crude once again! Is $95 the new normal and what it means for Indian investors?

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Over the past week, Trump has also threatened to widen the scope of U.S. strikes in Iran to include energy facilities and bridges.

The 1949 Geneva Conventions, which set rules for humanitarian conduct during war, prohibit attacks on sites considered essential to civilian life. Following Trump’s earlier threats to target such infrastructure, international law experts in the U.S. said earlier this year that such attacks could potentially constitute war crimes.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Interactive Brokers Group, Inc. (IBKR) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript