The IMAX Corporation was coined from Multiscreen Corporation. Muiltiscreen Corporation dealt with combination of many small projectors to project one large image. This method of creating large movies had many difficulties. It led to the original founders of IMAX to embark on a mission to find a simpler way to project large cinemas. Upon the discovery that the image from a single [projector is far more clear than those of combined projectors they changed their name from multi screen to IMAX. IMAX is an ellipsis of image maximum. The first IMAX movie was screened in 1970 in Japan. From there on IMAX started developing and built its IMAX theaters. The original owners sold IMAX to Gelfond and Wechsler in 1994 for eighty million dollars. The new owners publicized the company in order to acquire the necessary capital to finance the growth of the company. IMAX did not intend to infiltrate the whole movie industry; however, it based its operations on the niche of the market. It decided to major on production of large format films and system.
Its customer base included:
* Movie lovers:-IMAX targeted movie lovers who were looking to experience the movie in a completely new dimension. It produced film that commonly loved by most people. Examples were comedy, Romantic comedy, horror, and documentaries. It main purpose was to generate revenue through ticket sales. It mostly produced family movies and children movies. Documentaries and educative films were also among their productions that were loved by so many individuals. * Theatre owners:-IMAX leased its equipment to theaters so that they could be able to show IMAX movies. Leasing * Public:-a large portion of IMAX revenue was from systems sales. It developed its systems and sold to the public for their entertainment. * Entrepreneurs:-IMAX also targeted entrepreneurs who wanted to earn a living in the movie industry. It did this through leasing of its theaters. The lease for 10-20 years and were renewable...
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