Netflix's Immersive Experiences May Push Them 'Off Their Course,' IMAX CEO Raises Alarm: 'Hard To Do Things That Aren't

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Netflix's Immersive Experiences May Push Them 'Off Their Course,' IMAX CEO Raises Alarm: 'Hard To Do Things That Aren't

Post by Admin » Wed Jun 19, 2024 9:04 am

Richard Gelfond, CEO of IMAX, has expressed skepticism about Netflix Inc.’s plan to launch immersive retail experiences.

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What Happened: During CNBC’s “Last Call” on Tuesday, Gelfond explained that it is difficult to dabble with projects that are not a company’s core competencies.

“Hard to do things that aren’t your core competencies…Running retail operations, restaurants, merchandising, that’s a different skill set, and I think you could find the streets littered with companies that went off their course,” he said.

Gelfond’s comments appeared after Netflix recently announced that the first two immersive venues, dubbed “Netflix House,” will open by 2025 at King of Prussia in Pennsylvania and Galleria Dallas, Texas. As per their press release, both these venues will occupy former department store locations and span over 100,000 square feet in area.

SEE MORE: https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39396528/netflixs-immersive-experiences-may-push-them-off-their-course-imax-ceo-raises-alarm


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