- Cineplex reported box office revenues of C$52 million for December 2023 as performance surpassed 2019 levels
- Q4 2023 box office revenues were C$124 million, which represented 68 per cent of box office revenues for the same period in 2019.
- The “Taylor Swift | The Eras Tour” theatrical concert film took home the top spot in the quarter, followed by “Five Nights at Freddy’s” and “The Hunger Games: The Ballad of Songbirds and Snakes”
- Cineplex opened trading at C$8.04 per share
Cineplex (TSX:CGX) reported box office revenues of C$52 million for December 2023 as performance surpassed 2019 levels.
Q4 2023 box office revenues were C$124 million, which represented 68 per cent of box office revenues for the same period in 2019.
The theatre chain outperformed the North American box office performance relative to 2019, by 160 basis points and it was its biggest year for international programming, delivering 10 per cent of its annual box office revenues.
The “Taylor Swift | The Eras Tour” theatrical concert film took home the top spot in the quarter, followed by “Five Nights at Freddy’s” and “The Hunger Games: The Ballad of Songbirds and Snakes,” distributed by Cineplex Pictures.
Other leading film performances for the month included “Wonka,” Bollywood title “Animal,” which was Cineplex’s highest grossing international film with 42 per cent of North American market share, and action sequel, “Aquaman and the Lost Kingdom,” where 87 per cent of its box office revenues came from premium experiences.
|
Period
|
2019 box office
|
2023 box office
|
2023 as a percentage of 2019
|
|
October
|
C$54,528
|
C$37,354
|
69 per cent
|
|
November
|
C$52,314
|
C$34,640
|
66 per cent
|
|
December
|
C$74,946
|
C$51,847
|
69 per cent
|
|
Total
|
C$181,788
|
C$123,841
|
68 per cent
|
|
|
“It’s been a record year for Cineplex’s international programming. As part of our content broadening strategy, international content helped alleviate short-term supply challenges resulting from the now resolved actors’ and writers’ strikes,” Cineplex’s president and CEO, Ellis Jacob, said in a statement. “The start of 2024 is bringing with it the much-anticipated “Dune: Part Two,” “Ghostbusters: Frozen Empire,” “Bob Marley: One Love,” pop-culture movie favourite, turned musical, “Mean Girls” and international film, “Fighter.”
The curtain will be pulled back on more details when Cineplex releases its Q4 and year-end 2023 results on Feb. 8.
Cineplex Inc. is a household Canadian brand active in the film entertainment and content, amusement and leisure and media sectors. It operates more than 170 movie theatres and entertainment venues across the country.
Cineplex stock has fallen 70.4 per cent over the past five years but has risen 4.2 per cent in the past year. It opened trading at C$8.04 per share.
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