I paid $23 for an IMAX ticket last month. Twenty-three dollars. For one movie. And I'd do it again honestly, the screen was so big I felt like I was falling into it. My friend leaned over halfway through and said "this is the only way to watch this." And honestly that's exactly why IMAX Corporation keeps gaining ground while regular theaters fight to get people off their couches.

A recent analysis from Seeking Alpha lays out the case for IMAX as an investment, and the thesis is pretty straightforward: filmmakers want their movies in IMAX format, theaters want IMAX screens because they sell premium tickets, and audiences keep showing up for the experience. Box office market share should keep expanding over the next few years.

At my local theater the IMAX premium runs about $10 over a standard ticket. That's not scientific, just what I've seen on the marquee and the receipt. But people pay it. Not for every movie, but for the ones that matter. The blockbusters, the cinematic events, the films where the director actually shot for IMAX.

And that's the part I keep thinking about as someone who's always looking at where to put money. IMAX is selling a format that major filmmakers specifically want. When a director builds their entire visual approach around IMAX cameras the theater experience becomes something you can't replicate at home, no matter how nice your TV setup is.

The expansion angle matters too. The Seeking Alpha piece points to theater expansion as a core growth driver. More screens in more locations means more revenue from the same film slate. It's a scaling play.

Now I should be transparent here. I don't currently own IMAX stock. I've been watching it for a few months though, and after reading through the Seeking Alpha piece I'm closer to pulling the trigger than I was before. My portfolio leans toward index funds, I wrote about that recently and I stand by dollar-cost averaging into broad market exposure. But I keep a small slice for individual picks, about 8 percent of my total holdings, and IMAX is the kind of company that fits there. It's a real business with real revenue and a genuine competitive moat.

Warren would probably tell me to be cautious. He'd say the valuation is rich or that theater attendance has long-term structural risks from streaming. And he wouldn't be wrong about the streaming part. But IMAX occupies a specific niche that streaming literally cannot touch. You can't replicate this format in your living room.

The risk side is real though. IMAX depends heavily on a healthy theatrical release slate. When the box office has a slow year IMAX feels it. They're not immune to the broader trends hitting movie theaters. They're just better positioned than most because they offer something premium and exclusive.

If you're looking at IMAX as an investment, the takeaway from the Seeking Alpha analysis is that filmmaker interest and theater expansion are working together to drive growth. Directors want the format, theaters want the revenue, audiences want the experience. All three pulling in the same direction is rare.

I'll probably start a small position this week. Not going all in, just dipping a toe. If it drops I'll average down. If it climbs I got in early enough. That's my approach with individual stocks: figure out the thesis, commit a little, watch it play out. Full transparency, I'll follow up on this one once I've got skin in the game.