In late July, Universal and IMAX extended 70 mm IMAX showings of The Odyssey through mid-September. In New York City, these screenings basically sold out immediately, save for a few seats in the front row. People trekked to AMC Lincoln Square 13 — one of only 25 theaters in the US, 41 in the entire world, that can screen the film in this format — to wait in line to buy tickets in person because the app was constantly crashing. Similarly, September screenings across the country are still packed.
This phenomenon signals to me that there are a lot of people (Virgos? Oracles?) who have a better grasp of the future, specifically the 30 days between August and September, as well as the concept of an upcoming Wednesday, than I will ever possess.
I also see it as a sign that scarcity is the most powerful social currency of the moment. Like a cup of frozen yogurt people wait hours for or a Trader Joe’s tote that incites a hot frenzy, seeing Christopher Nolan’s latest masterpiece in its intended format is just the latest and greatest example of how access to something limited or exclusive has become a dominating cultural force.
Why seeing The Odyssey in 70 mm IMAX is an odyssey in itself
Paul Hardart, a professor at NYU Stern School of Business who specializes in the marketing of film and television, sees the demand to see The Odyssey in this specific format as a collision between scarcity, and high value cultural currency. Hardart said that in order to really understand why the movie has become such a phenomenon, you have to understand that there’s a higher bar for going to see a movie in a theater than there used to be.
“Coming out of the pandemic, what has changed — particularly in the movie business and particularly the theatrical movie exhibition experience — is people go to comedies, dramas, and adventure movies less frequently,” Hardart told me. One of the big motivators to get people off the couch and into a multiplex is the promise that the movie will be an experience.
“To get me out of my home, it’s got to be worth it,” Hardart said of the current mentality, adding that The Odyssey is exactly this type of movie. “I want to have an experience and I’m going to go with my friends and you know what, I might pay extra for it. I’m going to go see The Odyssey the way it was intended.” When you’re able to get an 70 mm IMAX ticket, not only do you get to see this great work of art, but you also get to tell everyone you were able to do so despite it being so difficult.
“I saw it in a regular theater and I felt like a loser,” Hardart added. It’s not that the regular, non-70-mm viewing didn’t have great performances, or beautiful cinematography, or any of the factors that contributed to all of the critical adulation that the movie’s received. Hardart thought it was fantastic. But he wanted to see it in the way Nolan intended, in a format that’s only available in 41 rooms in the entire world. This experience-first approach isn’t specific to movies; Hardart is also seeing it happen at concerts, festivals, and any kind of in-demand, exclusive event.
“If you go to the US Open, they have those Honey Deuce drinks; so many people there are taking selfies of themselves drinking these $25 drinks,” he said. “I don’t know if they’re there for tennis. But I think some of them are there to say, ‘I went to the Open, I had the experience, and I drank this bespoke drink, and I want you to like me or respect me or think I’m cool.’”
The dopamine-fueled reason we want things that no one else has
Jared Watson, an assistant professor of marketing at NYU Stern, studies the things people buy to feel cool, and the broader subject of consumer culture at large; he introduced me to a concept called signal theory. In the context of consumer behavior, it’s how we try to communicate to others that we’re hip, or smart, or likable — any trait that might not be immediately observable — through the things we buy and possess. Thanks to social media, our experiences have become as visible and effective as material objects in telegraphing an identity.
“We’re all constantly trying to show people who we are and what we’ve done and the life that we have,” he told Vox. “And scarcity is really gasoline on that fire.”
There’s still massive social currency to be mined.
The more difficult it is to have an experience, the higher its social value. Watson said that humans get much more satisfaction when they’ve experienced or purchased something before everyone else has. Once everyone has access to the thing we’re using to signal, its social value goes down.
This may help explain The Odyssey’s 70 mm IMAX phenomenon. Because there are a limited number of showings, seats, and theaters, it’s going to be a long time before the number of fans who’ve seen it in 70 mm outnumber the people who haven’t, if that day ever comes. There’s still massive social currency to be mined.
There’s also the fact that humans love the anticipation of getting our hands on something, maybe even more than obtaining it, according to Ginger Pennington, an associate professor at Northwestern University. Pennington studies human motivation and consumer psychology.
“The pleasure that you’re feeling is more intense right before you get the thing you’re coveting than when you get or when you actually have it and are able to consume it or use it,” she said, explaining that the positive hit resembles the pleasure some people get from gambling, and is part of what drives shopping addiction.
Essentially, getting to the front of a frozen yogurt line is going to be more satisfying than whatever the frozen yogurt tastes like; nabbing a Trader Joe’s bag is going to make us much happier than stuffing the tote. And perhaps finally getting tickets to The Odyssey will give you more pleasure than actually seeing The Odyssey. Though, to be clear, I do not pretend to know how intensely one can love The Odyssey or Christopher Nolan. I just know I need to see it in 70 mm.
