Cineplex Shrinks First Quarter Loss on Higher Theatre Attendance, Box Office Revenue

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Cineplex trimmed its first quarter loss by 36 percent to CAN$22.4 million (US$16.3 million) as theater attendance rose 17 percent to 9.84 million patrons.

That helped lead total revenues at the Canadian exhibition giant up 15.6 percent to CAN$291 million (US$213.6 million) as major Hollywood titles like Project Hail Mary and Pixar’s Hoppers played on Cineplex screens. Box office revenues at CAN$127.4 million (US$93.2 million) rose 25 percent on last year’s performance during the same period.

And international titles delivered 13 percent of ticket receipts during the first quarter as Cineplex continues to lean on foreign films and higher ticket prices for premium screen formats to drive incremental revenues.

“International programming continued its momentum, with record-setting international films now being released in four of the past five quarters, highlighted in Q1 by Cineplex delivering over 30 percent of the domestic box office for Dhurandhar: The Revenge, the highest grossing Hindi language film in North American history,” Cineplex CEO Ellis Jacob said in a statement that accompanied his latest financial results.

During a morning analyst call, Ellis became the latest exhibitor to tout the major Hollywood studios supporting a 45-day theatrical window at the recent CinemaCon. In Las Vegas, studio heads pitched upcoming releases and plans for more theatrical releases with longer runs at the multiplex.

Ellis pointed to David Ellison, head of Paramount-Skydance and the pending boss of Warner Bros., promising to make at least 30 theatrical movies a year with a 45-day window, and Netflix giving its upcoming Narnia film release a wide release with a 49-day exclusive theatrical window in 2027.

“Taken together, these developments reinforce the confidence studios have in the theatrical release being foundational to its own success, designed to create scale impact and cultural relevance,” he argued.

Ellis later told The Hollywood Reporter he was confident the studios heads, including NBCUniversal Entertainment chair Donna Langley signaling a move to a 45-day exclusive theatrical window, will come through on their promises following CinemaCon.

“On the windows side, you’re going to see more and more studios looking to move forward in a strong way. You had Universal, (David) Ellison at Paramount, Disney and Sony are already there. It’s been a positive outlook for content,” he argued.

Ellis, who received the Legend of Cinema award as the longtime Cineplex chief at CinemaCon, as chairman of the National Association of Theatre Owners (NATO) during the pandemic had already urged the major Hollywood studios to maintain a strong  traditional theatrical window as they began to go straight to their streaming platforms with movie releases.

“I’ve always said, we are the engine that drives the train. We make the difference how films perform,” Jacob recalled of his pitch on behalf of North American exhibitors.  

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