‘Gladiator II’, ‘Moana 2’, ‘Wicked’ give Cineplex 141% gain over 2023

• Cineplex (TSX:CGX) reported box office revenue of $48.9 million for November 2024, marking a significant increase of 141 per cent compared to November 2023 and reaching 94 per cent of the pre-pandemic levels seen in 2019
• A top contributor to this success was the popularity of premium viewing experiences, which accounted for 42.0 per cent of the November box office, up from 36.7 per cent in November 2023
• November was a standout month for Cineplex, driven by the simultaneous releases of two highly anticipated films, “Gladiator II” and “Wicked”
• Cineplex stock (TSX:CGX) opened trading at C$ 12.91

Cineplex (TSX:CGX) reported box office revenue of C$48.9 million for November 2024, marking a significant increase of 141 per cent compared to November 2023 and reaching 94 per cent of the pre-pandemic levels seen in 2019.

This surge in revenue highlights the ongoing recovery and growth of the cinema industry.

A top contributor to this success was the popularity of premium viewing experiences, which accounted for 42.0 per cent of the November box office, up from 36.7 per cent in November 2023. This trend reflects moviegoers’ increasing preference for enhanced cinematic experiences such as 3D, D-BOX, IMAX, ScreenX, VIP, and UltraAVX.

November was a standout month for Cineplex, driven by the simultaneous releases of two highly anticipated films, “Gladiator II” and “Wicked.” The excitement surrounding these releases led to what was dubbed the ‘Glicked’ weekend. “Wicked” had a record-breaking opening weekend, earning C$112.5 million, the highest ever for a film based on a Broadway musical.

Adding to the month’s success, “Moana 2” made a splash with a C$139.7 million in its opening three-day weekend, setting a new record for the highest U.S. Thanksgiving three-day weekend of all time. It also achieved the highest five-day opening of all time, with C$225.4 million.

“The record-breaking trio of “Gladiator II”, “Wicked” and “Moana 2” brought diverse genres and compelling content to theatres, giving movie-goers even more reasons to head to their local theatre,” Cineplex’s president and CEO, Ellis Jacob said  in a news release. “This wide selection of content solidifies movie-going as a shared experience, bringing people together for these special cinematic moments. As these titles extend into the holiday season, we’re ending the year on a high note by also adding “The Lord of the Rings: The War of the Rohirrim”, “Kraven the Hunter”, “Mufasa: The Lion King”, “Sonic the Hedgehog 3” and “Nosferatu.””

Kraven? Really? Anyway, premium formats played a significant role in the box office performance of these films. ‘Wicked” saw 70.5 per cent of its revenue from premium formats, “Moana 2” had 59.8 per cent, and “Gladiator II” had 46.2 per cent. This trend underscores the growing demand for immersive and high-quality movie experiences.

International programming also contributed to Cineplex’s strong performance, accounting for 11.8 per cent of the November box office revenue, significantly outperforming the 3.8 per cent seen by North American peers. Films like “Bhool Bhulaiyaa 3” and Hello, Love, Again” were among the top ten films for the month, with “Hello, Love, Again” becoming the highest-grossing Filipino language film in Cineplex history.

Overall, November 2024 was a landmark month for Cineplex, showcasing the resilience and evolving preferences of moviegoers.

Cineplex Inc. is a household Canadian brand active in the film entertainment and content, amusement and leisure and media sectors. It operates more than 169 movie theatres and entertainment venues across the country.

Cineplex stock (TSX:CGX) opened trading at C$ 12.91 and has risen 54.24 per cent since the year began.

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(Top photo via Cineplex.)