In bringing esports to the big screen, IMAX President Megan Colligan said the company is trying to find new ways to make the most of movie theaters at times when ticket sales generally lag. The idea is to bring people together in "hyperlocal" ways, she told Cheddar at CES in Las Vegas Friday.
IMAX and Vindex Studios announced a partnership to bring live streaming esports events and experiences to theaters around the world. The esports infrastructure startup will create those experiences, which IMAX will exclusively stream and host for global viewers.
"As much as movies drive an incredible business for us, there are times when our theaters aren't as utilized as they should be," she said. Before esports, IMAX, which experienced its biggest year at the box office in 2019, had been experimenting with music content, creating a 'Jesus is King' exclusive film to coincide with the release of Kanye West's October 2019 album. The film features West performing at the remote "Roden Crater," a James Turell exhibit in a dormant volcano that would not be easily accessible to many people.
Despite the buzz, Colligan called the moment "fleeting" due to the film's intentionally short run..
"We didn't have 20 shows a day of it," everyday Colligan said. "It was a needle drop that came out with his album."
The experience was just an example of what she calls the "super-intimate, super-realized experience," that IMAX offers, which makes a viewer feel like they're in the same room as their favorite artist or watching a game in a new way.
She said IMAX is trying to bridge the experience of attending an event live and giving instant access to events online.
"People want to be part of an event and they want to be in the room when something happens. It doesn't need to exist all the time, everywhere," Colligan said. "It ruins the specialness of things when accessibility of something is available to you on your phone and it's not an event you were a part of."
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
