While the deal, first announced in January, led to reports of significant discontent from within the exhibition industry, the letter from Tim Richards — shared exclusively with Variety — marks the first time it’s been expressed formally.
In the letter, Richards asserts that both audiences and the industry itself will “lose” out from the deal and warns that IMAX CEO Richard Gelfond’s claims that he’s looking to secure further exclusivity arrangements will be even more damaging.
“It risks undermining the very ecosystem that makes theatrical success possible,” he said, noting that Gerwig’s “Barbie” managed to achieve its phenomenal box office success without a release on IMAX…
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