A wave of media mergers which year is actually reflective of the increased dominance of online steaming giants like Netflix as well as Amazon Prime, the CEO of IMAX said Tuesday.
Richard Gelfond described the current situation as a “high level tug-of-war happening between Silicon Valley as well as Hollywood.”
“Companies want to become bigger to position themselves to influence which, as well as which’s why we’re seeing so many mergers which year,” he said. “These companies are positioning themselves for who’s going to call the shots within the future.”
A range of media mergers graced the headlines which year. Walt Disney as well as Twenty-First Century Fox announced a deal Friday, while IMAX said last week which had extended its partnership with Fox for 5 completely new movies including three X-Men titles.
Data showed which Netflix made more movies than any traditional Hollywood studio in 2017. The streaming giant recently announced which could Discharge 80 in-house “Netflix Originals” films in 2018.
IMAX’s earnings were taken to an all-time high after the Discharge of 2015’s “Star Wars: The Force Awakens.” The latest Star Wars film, “The Last Jedi,” is actually released Friday.