Denny Tu, executive VP of global brand and creative at Imax, who came on board in August, said the company is looking for a new creative agency and will take control of the review internally.
They hope to make an appointment by year end.
“It’s a complex world with complex challenges and we’re looking for a creative partner who understands our brand and our story, and can unlock the potential of the Imax proposition,” Tu said.
The Film format company had worked with Mistress on global creative for several years, since 2015. According to Tu, the collaboration was severed earlier in 2017, reported Ad Age.
Imax are looking to work with a company who can provide experiential creativity, says Tu, and to “challenge us based on the new market dynamics”.
“We want to break through that clutter and do it right,” the executive VP added. “We don’t need a lot of little noises, but if we do a few bigger, better things at the level of Imax, we’ll see success from there.”
The agency chosen will work with the company’s other digital partners, Compadre and Way to Blue, on a new campaign slated to launch in Q2 of 2018.
Bucking film industry decline
The firm surprised analyst expectations in its third-quarter earnings report, with revenue up 14.2 percent, year-over-year, to $98.8 million. The company also reported record global box office revenue of $219 million, which grew 17% over the previous year quarter.
“Our third-quarter global box office marked Imax’s highest-grossing third quarter ever, growing 17% to $219 million,” CEO Richard Gelfond said according to a Motley Fool report.
“In addition to our box office growing 18% in the domestic market, despite the overall North America box office decline of roughly 14%, we also saw exceptional performance from our international, ex-China box office.”
A number of factors contributed to the company’s continuing success. Director Christopher Nolan, had a huge hit with World War II epic Dunkirk, which was filmed entirely with Imax cameras.
As of June 2017, there were 1,257 IMAX theatres in 75 countries. They also increased its forecast for installations this year, with the completion of 160 to 165 new systems in 2017.
Images: IMAX
