The phrase “premium-large format” (or PLF) couldn’t sound more technical. But mention Imax — and its winning streak on Wall Street — and all eyes light up. That wasn’t always the case.

For years, Imax was best known as the giant screen housed in museums that showcased astronauts taking space walks or an African safari in stunning fashion. Now, weekend after weekend, Imax’s well-oiled publicity machine issues notes announcing how much of a film’s overall gross comes from the company’s screens, both in the U.S. and overseas, lifting the company’s profile on Wall Street.

Case in point: The second quarter of the current fiscal year marked Imax’s best quarter in terms of domestic movies ticket sales as it stays on course to achieve guidance of $1.2 billion for the full year. Over the July 11-14 weekend, the 400 or so Imax theaters in North American accounted for $19.1 million of Superman’s opening gross, or a record 15.6 percent.

Yet lost in the noise was that the PLF screens overall, including Imax, turned in 40 percent of the total opening number of $125 million. That means the country’s approximately 900 other PLF screens ponied up about $26 million. (PLF’s produced up to 30 percent of Jurassic World Rebirth’s opening gross; that film didn’t have access to Imax). They just don’t often get their moment in the publicity spotlight.

It’s no wonder why competing PLF screens might want to band together and promote themselves over Imax, but it’s a tricky proposition, considering that mega circuits including AMC Theatres, Cinemark Theatres and Regal Cinemas all have their own individually branded PLFs, in addition to operating Imax screens and, in some cases, emerging formats ScreenX and 4DX (the latter is hugely popular in Asia and Latin America, and is gaining momentum in the U.S.).

To start touting their own and other PLFs could result in consumer confusion. Sources tell The Hollywood Reporter that AMC, which operates the most Imax screens in North America in addition to being the sole destination for Dolby Cinemas domestically — also a high-end, coveted PLF — has no interest in joining such a coalition. And so far, there’s no indication that Cinemark and Regal are part of any coalition. Neither responded to a request for comment.

Imax CEO Richard Gelfond confirmed this in his own comments during a recent investors call. “[AMC Theatres’ Adam Aron] basically felt that it was remote that any consortium was going to be put together in any way,” the CEO said. “We also spoke with a number of the other big exhibitors that were in North America, and they reassured us that they’re either in the Imax business or want to be in the Imax business.” (In 2024, Imax generated 42 percent of its revenue domestically, 35 percent overseas and 23 percent in China.)

Gelfond added that Imax had been indexing a 15 percent market share for premium film releases on their opening weekend in 2025. “That’s a real ‘aha’ moment for exhibitors who haven’t been in the Imax business before, and they’re kind of scurrying to come up with a strategy,” the CEO told analysts. “A lot of people have tried to create competitors to Imax over the years, but the fact is, our brand and relationships with filmmakers are unmatched, and our technology is superior, and audiences know it.”

Proponents of Dolby Cinemas would argue with Gelfond’s assessment. Like Imax has done for years, the format is starting to work with filmmakers — such as the team behind Jurassic World Rebirth — throughout a film’s journey, from providing special cameras and other equipment to assisting with marketing. (4DX would pitch a fit at Gelfond’s comments as well).

But at least one well-informed distribution source says there are indeed exhibitors in the U.S. — this person wouldn’t name names — who are at least discussing the idea of banding together so as to remind folks that Imax isn’t the only game in town.

But one high-placed exhibition source offers an alternate version of events. While it’s true that PLFs were one of many topics addressed when exhibitors met up this past spring at CinemaCon, the nature of the conversation is now being exaggerated, the source says. Theater operators merely had a discussion as to how to maximize digital and premium large formats as the reach of 4DX, Screen X and others expand. Whether it ultimately leads to some sort of coalition remains to be seen.

This story appeared in the July 30 issue of The Hollywood Reporter magazine. Click here to subscribe.