Insights

IMAX has been experiencing substantial growth in India, with the country emerging as one of the most exciting global cinema markets. As February 2025, IMAX operates 31 screens in India, with agreements for an additional 14 screens, bringing the total to 45 in the near future. This represents a significant increase from previous years, indicating growing interest and investment in IMAX technology within the country.

However, when compared to other markets like China, which has nearly 800 IMAX screens, India’s current penetration is relatively low. This disparity highlights the immense potential for growth in the Indian market, as there is ample room to increase the number of screens to meet the rising demand for immersive cinema experiences.

Top Cinema Chains

Several prominent cinema chains are operating IMAX theaters in India:

• PVR INOX Limited: The largest multiplex chain in India, formed by the merger of PVR Cinemas and INOX Leisure Limited. They have over 1,749 screens across 355 properties in 111 cities. PVR INOX has been a significant partner for IMAX, with 21 IMAX screens across India.
• Miraj Cinemas: One of India’s fastest-growing multiplex chains, with over 200 screens across 60 cinemas in 42 cities. They recently partnered with IMAX to install three new IMAX with Laser systems at key locations.
• Carnival Cinemas: A major player in the Indian multiplex industry, operating the Carnival IMAX Wadala in Mumbai, one of the largest IMAX screens in India.
• Cinepolis: A global cinema chain with a strong presence in India, operating over 432 screens. They are known for premium cinema experiences and have been involved in the IMAX market.

Revenue and Box Office Performance

IMAX theaters in India have been contributing significantly to box office collections. In 2024, Indian titles alone amassed $6.46 million, while globally, IMAX helped Indian films collect $15.74 million. The year 2023 was particularly successful for IMAX in India, with the company achieving its highest-grossing year ever, surpassing the previous record set in 2022. In 2024, Imax reported that Indian content generated nearly 40% of the global revenue. 

The premium pricing strategy of IMAX tickets plays a crucial role in their revenue model. This strategy, combined with higher attendance levels associated with IMAX DMR (Digital Media Remastering) films, generates incremental box office revenue for exhibitors.

Market Potential and Growth Projections

The market potential for IMAX in India is substantial, with ambitious plans to expand to 150 screens over the next five years. This growth is supported by a strong content pipeline, including local-language films, which are expected to drive further market share gains. Analysts project a 25% box office growth for IMAX in the coming year, translating to high-single-digit revenue growth.

The Indian box office market as a whole is projected to reach US$2.45 billion by 2025, with a compound annual growth rate (CAGR) expected from 2025 to 2029. This growth trajectory indicates a positive outlook for IMAX theaters as part of the broader cinema market in India.

Consumer Base and Preferences

The consumer base for IMAX theaters in India is characterized by:

• A strong preference for immersive entertainment experiences, with 67% of moviegoers preferring large-format screens like IMAX.
• A diverse demographic that appreciates both local and international films.
• A cultural inclination towards cinema as a social activity, which supports the potential for IMAX theaters offering premium viewing experiences.
• Tech-savvy consumers who seek high-quality audiovisual experiences, attracted by the technological advancements in IMAX theaters.
• A balance between the appeal of OTT platforms and the unique experience offered by IMAX, which cannot be replicated at home.

Top Cities for IMAX Theaters in India

• Mumbai: Home to several large IMAX screens, including the iconic IMAX Wadala, INOX Inorbit IMAX, and PVR Phoenix IMAX.
• Pune: Pune has two IMAX theaters: Cinépolis at Westend Mall, Aundh (since 2016) and PVR INOX at Phoenix Mall, Wakad. Known for advanced projection, immersive sound, and premium experiences, ticket prices range from ₹600 to ₹1,200. While Pune’s IMAX presence is growing, it trails Mumbai and Bangalore, each with six screens.
• Delhi (NCR): Features notable locations such as PVR Superplex IMAX in Noida and PVR Vegas IMAX in Delhi, among the largest IMAX screens in India.
• Chennai: Hosts large IMAX screens like Palazzo IMAX and Luxe IMAX, known for their size and quality of cinematic experience.
• Bengaluru: Home to growing number of IMAX theaters, including PVR Xanders IMAX and PVR Vega IMAX.
• Hyderabad: Features the Prasads IMAX, once the largest 70MM 3D IMAX screen in the world until 2014.

These cities not only have some of the largest IMAX screens in India but also show strong performance in terms of audience turnout and box office success.

IMAX’s Vision for India: A Premium Cinema Boom

IMAX sees India as a key growth market, with CEO Richard Gelfond calling it “the right time” to expand. In 2023, Indian films like RRR and KGF contributed one-third of IMAX’s global box office, showcasing the market’s potential. Gelfond highlighted “record-breaking results” driven by both Hollywood and Indian blockbusters, fueled by rising demand for premium experiences.

IMAX is strengthening its presence through partnerships with major exhibitors like PVR, INOX, and Cinepolis. Mark Welton, IMAX President, emphasized these collaborations to “provide a premium cinematic experience to more audiences.” Additionally, IMAX’s partnership with BookMyShow aims to enhance customer engagement, as VP Preetham Daniel noted it will “elevate the ways fans connect with IMAX.”

Gelfond reiterated India’s “huge opportunity,” with plans to expand its footprint significantly. The deal with INOX marks a crucial step in this growth strategy. With a booming middle class, tech-savvy consumers, and a deep-rooted cinema culture, India offers immense potential for IMAX to thrive as the go-to choice for immersive, premium entertainment.