IMAX is exploring a sale and has approached entertainment companies as potential buyers, according to people familiar with the situation. The sale process remains in early stages and may not result in a deal. IMAX has been under pressure to demonstrate growth potential as investors reassess its long-term value amid changing theater dynamics.

The move comes at a compelling moment for premium experiences. Domestic box office revenue reached $2.9 billion year-to-date, the highest for this period since before the pandemic, per Box Office Mojo. Premium screens including IMAX now account for 16% of ticket sales in the U.S. and Canada through early April, up from 13% in the same period of 2021, according to EntTelligence.

That market shift strengthens IMAX's negotiating position, though no buyer has emerged yet. Premium theatrical formats are outpacing general box office growth, giving the company room to command a higher valuation. Still, the early-stage nature of the search means a deal remains far from certain.