Summer Box
Office an Important Turning Point for the Exhibition
Business
TORONTO, Sept. 10,
2024 /CNW/ - (TSX: CGX) – Cineplex, Canada's leading entertainment and media
company, reported box office revenues of $67.2 million for August
2024, representing 119% of the same month in 2019, and 99%
of 2023 despite tough comparison period in August 2023 with the continued strength of
Barbenheimer. In addition, Cineplex outperformed the North
American box office relative to 2019 for the month of August by
7.3%. Combined box office and theatre food revenues achieved 125%
of 2019 levels and 100% of 2023.
Sparked by a diverse film slate of highly anticipated
blockbusters, moviegoers went to their local Cineplex last month to
experience them on the big screen. Deadpool & Wolverine
became the highest-grossing R-rated film ever and has generated
$1.3 billion in box office revenue
globally, so far. Exceeding industry expectations, It Ends with
Us became the largest female-driven title of 2024 and the
highest-grossing romantic drama since 2018, crossing $309 million globally. Alien: Romulus was
the second highest-grossing film globally within its nine-title
franchise, and 76.2% of box office revenue generated from Cineplex
guests opted to watch it in premium experience formats like VIP,
Ultra AVX and IMAX.
With a continued focus on alternative content, Coraline
returned to the big screen for its 15th anniversary
becoming the highest-attended Cineplex Events program so far in
2024, generating over half a million dollars in box office revenue.
Cineplex's leading approach to international programming continues
to outperform, with 9.4% of the August
2024 box office coming from international titles, compared
to its North American peers at 2.45%. The top three international
films for the month were Daaru Na Peenda, Bibi Rajni and Khel Khel Mein, with Cineplex capturing
a substantial North American share ranging from 48% to 87% for
these films.
"This summer marked an important turning point, with June and
July box office revenue reaching over 90% of 2019 levels and August
surpassing 2019 levels," said Ellis
Jacob, President and CEO, Cineplex. "The continuation of
compelling content means we're more confident than ever about the
long-term prospects for the exhibition business. The momentum will
continue in September with Beetlejuice Beetlejuice, Speak
No Evil, Transformers One and The Wild
Robot."
Period
|
2019 Box
Office
|
2023 Box
Office
|
2024 Box
Office
|
2024 as a
Percentage of 2019
|
2024 as a
Percentage of 2023
|
April
|
$63,759
|
$61,278
|
$29,183
|
46 %
|
48 %
|
May
|
$68,697
|
$47,514
|
$33,936
|
49 %
|
71 %
|
June
|
$56,918
|
$55,701
|
$51,359
|
90 %
|
92 %
|
July
|
$76,935
|
$86,388
|
$72,468
|
94 %
|
84 %
|
August
|
$56,537
|
$67,592
|
$67,199
|
119 %
|
99 %
|
(i) Balances are in
thousands of dollars.
|
About Cineplex
Cineplex (TSX:CGX) is a top-tier
Canadian brand that operates in the Film Entertainment and Content,
Amusement and Leisure, and Media sectors. Cineplex offers a unique
escape from the everyday to millions of guests through its circuit
of 169 movie theatres and location-based entertainment venues. In
addition to being Canada's largest
and most innovative film exhibitor, the company operates
Canada's favourite destination for
'Eats & Entertainment' (The Rec Room), complexes specially
designed for teens and families (Playdium), and an entertainment
concept that brings movies, amusement gaming, dining, and live
performances together under one roof (Cineplex Junxion). It also
operates successful businesses in digital commerce
(CineplexStore.com), alternative programming (Cineplex Events),
motion picture distribution (Cineplex Pictures), cinema media
(Cineplex Media) and digital place-based media (Cineplex Digital
Media). Providing even more value for its guests, Cineplex is a
partner in Scene+, Canada's
largest entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs over 10,000 people in its
offices and venues across Canada.
To learn more, visit Cineplex.com.
Caution Regarding Forward-Looking Statements:
Certain statements and/or information in this news release
(identified by words such as "may", "will", "could", "should",
"would", "suspect", "outlook", "believe", "plan", "anticipate",
"estimate", "expect", "intend", "forecast", "objective" and
"continue" (or the negative thereof)), and words and expressions of
similar import, and similar expressions suggesting future events or
future performance are intended to identify forward-looking
statements. Such forward-looking statements are based on
expectations and assumptions made by Cineplex and are subject to
risks and uncertainties which may be beyond Cineplex's control. A
comprehensive discussion of risks that may impact Cineplex can be
found in Cineplex's public reports and filings, including those
described in Cineplex's Annual Information Form for the year ended
December 31, 2023 ("AIF"), and the
management's discussion and analysis for the year ended
December 31, 2023 ("Annual
MD&A"), which are available under the Company's profile on
Sedar+ (www.sedarplus.ca). The foregoing list of factors that may
affect future operations and results is not exhaustive. Readers are
cautioned that undue reliance should not be placed on
forward-looking statements as actual operations and results may
vary materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such
forward-looking statements. Cineplex does not undertake to update,
correct or revise any forward-looking statements as a result of any
new information, future events or otherwise, except as may be
required by applicable law.
SOURCE Cineplex