IMAX Secures Netflix Deal for Exclusive 'Narnia' Theatrical Release, Stock Jumps

On Friday, IMAX Corp IMAX announced that it has agreed with Netflix, Inc NFLX to debut Oscar-nominated director Greta Gerwig’s forthcoming film “Narnia” exclusively across the IMAX global theater network with a two-week run beginning Thanksgiving 2026.

It will premiere on Netflix at Christmas 2026, after months of negotiation between the companies, according to the Variety’s report. IMAX stock gained after the update.

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Netflix mostly prefers to have its movies debut on its platform, particularly the more broadly commercial ones.

However, in 2022, the streaming giant allowed “Glass Onion: A Knives Out Mystery” to run an exclusive one-week over 600 theatres.

Rival streamers like Amazon.Com Inc AMZN and Apple Inc AAPL allowed movies to be released theatrically before reaching the streaming services.

In 2018, Netflix shared plans to produce series and film projects based on Lewis’ “The Chronicles of Narnia.” In 2020, Netflix tapped Gerwig. In 2023, Gerwig’s “Barbie” marked the year’s biggest blockbuster, grossing nearly $1.5 billion globally.

Netflix also remained focused on sports events, which likely drove 9 million subscriber additions in the holiday quarter, courtesy of the “Jake Paul vs. Mike Tyson” boxing match, National Football League games, and the “Squid Game,” Reuters reports.

After its password-sharing crackdown, The streaming giant added premium sports content to its platform to attract younger viewers and advertising dollars.

BMO Capital‘s Brian Pitz expects Netflix’s advertising-based video-on-demand (AVOD) monthly active users (MAUs) to reach 90 million by 2025, up from 70 million in the fourth quarter of 2024, backed by Squid Game 2 and WWE.

Price Actions: IMAX stock is up 3.09% at $23.08 at last check Friday. NFLX is up 1.29%.

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