- Cineplex (TSX:CGX) scored its highest combined April box office and theatre food service revenues of all time at more than C$105 million
- The Canadian theatre chain stated that more than 4.8 million people walked through its doors last month
- In its in Q1 2023 results, AMC Entertainment Inc. (NYSE:AMC) reported that its revenue went up 21.5 per cent year-on-year to $954.4 million
- Cineplex (CGX) opened trading at at C$8.79 per share and AMC Entertainment (AMC) opened at US$5.83 per share
As the World Health Organization declares the end to the global COVID emergency, one of the most popular pre-pandemic pastimes is making a comeback.
Cineplex (TSX:CGX) recently scored its highest combined April box office and theatre food service revenues of all time at more than C$105 million.
The Canadian theatre chain stated that over 4.8 million people walked through its doors for last month’s top performing films, specifically the likes of the “Super Mario Bros.”, “John Wick: Chapter 4”, “Dungeons & Dragons: Honor Among Thieves”, and “Air: Courting A Legend”.
Cineplex reported April box office of $61 million, which amounts to 96 per cent of box office revenues generated during the same time in 2019 (the big release of that weekend was “Avengers: Endgame”, the second highest grossing film of all time.)
The company’s President and Chief Executive Officer, Ellis Jacob explained the revival was down to a simple concept, if the films are good, people will go see them.
“Coming out of this year’s CinemaCon convention, we are extremely pleased with the quantity and quality of upcoming film product for the remainder of 2023 and into 2024. The biggest star of the show was optimism. The commitment of traditional and non-traditional studios to theatrical has never been stronger as Hollywood and streamers look to exhibitors to elevate content to its utmost financial potential.”
Year-to-date, CGX stock has grown 9.3 per cent and opened Monday trading at C$8.79 per share.
In its in Q1 2023 results, AMC Entertainment Inc. (NYSE:AMC) reported that its revenue went up 21.5 per cent year-on-year to $954.4 million. These figures didn’t include the top-grossing films from April.
Year-to-date, AMC stock has climbed 47.4 per cent and opened trading on Monday at US$5.83 per share.
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