Exclusive: Netflix and Guillermo del Toro's "Frankenstein" will get limited IMAX run
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IMAX CEO Richard Gelfond speaks with Axios' Kerry Flynn at Media Trends Live. Photo: Vita Phoenix/Edin Studios on behalf of Axios
Netflix's upcoming "Frankenstein" movie, directed by Guillermo del Toro, will have a limited run in IMAX theaters, CEO Richard Gelfond said Thursday at Axios Media Trends Live.
Why it matters: The news comes after IMAX previously struck an exclusive theatrical deal with Netflix for Greta Gerwig's "The Chronicles of Narnia."
- The "Narnia" agreement sparked tension among legacy studios that continue to compete with Big Tech for awards and audience, but also underscored IMAX's value to filmmakers.
What they're saying: Gelfond explained that the appeal of IMAX for top directors is a venue for ambitious work, and that experience can help build audience loyalty that can launch franchises.
- "So, we don't see ourselves really as a theater, we see ourselves as a platform and our platform really helps build loyalty," he told Axios' Kerry Flynn.
Context: IMAX announced the "Narnia" deal in January, which included a four-week window before the film streams on Netflix on Christmas Day 2026. On an earnings call, Gelfond also touted its direct negotiations with Apple for "F1" and with Amazon for "The Blue Angels."
- In response to an analyst question on whether the model was repeatable, Gelfond said the deal was "fairly complex" and cautioned that IMAX was in no "rush to do another one tomorrow."
- Still, he added that "it will be tempting" for talent, IMAX and Netflix, if it works.
Between the lines: The "Narnia" deal sparked tension among studios and theater chains that see Netflix as their "common enemy," Puck's Kim Masters reported at the time.
The big picture: Becoming a go-to launchpad for streamers' most ambitious films will help boost IMAX's bottom line.
- IMAX has been impacted by an overall decline in moviegoing. But it's fared better than other exhibitors due to its premium experience, which has attracted top filmmakers like Ryan Coogler and Christopher Nolan.
- Gelfond explained that there was renewed interest post-pandemic, after people were "forced to stream kind of all the time, and I think people really got tired of streaming."
- "So, when they left the home, or when they had a night out, they just didn't want to sit in their living room with screaming kids and bathroom flushing and food spilling over themselves, so they decided they wanted the best," he said.
