Cineplex Posts Record August Box Office on the Odyssey, Spider-Man Demand

Dow Jones
Yesterday
 
 

Cineplex generated its highest box office performance in its history as the dual hits of The Odyssey and Spider-Man: Brand New Day sent moviegoers in droves to the big screens.

The Canadian movie theater chain reported August box office revenue of 98 million Canadian dollars ($70.7 million), up from C$49.1 million a year earlier.

Cineplex calls this summer's record the strongest of the company's history thanks to Spider-Man: Brand New Day, the second highest-grossing release for the company, as well as The Odyssey, where customers flocked to high-margin premium formats such as IMAX 70mm, accounting for 54% of total box office revenue in August.

At the same time, moviegoers were also buying more at the concession counters, with a box officer per patron metric of more than C$15.00 for the first time in its history.

Following a July where box office revenues were virtually flat at C$72.6 million, the third-quarter to-date revenue is C$170.6 million, compared with C$121.8 million in the prior-year period.

The company said it expects the momentum to continue through the remainder of the year driven by a heavy release slat that includes Avengers: Doomsday, Dune: Part Three, and Jumanji: Open World.

 
 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10