(Source: Cineplex.)
  • Cineplex (TSX:CGX) reported box office revenues of C$33.9 million for May 2024, representing 71 per cent of the same month in 2023
  • Year-to-date, Cineplex continues to outperform the North American box office relative to 2019 by 4.76 per cent
  • The top films of the month were “Kingdom of the Planet of the Apes,” “The Fall Guy,” “Furiosa: A Mad Max Saga” and “IF,” accounting for 59 per cent of May’s box office revenue
  • Cineplex last traded at $7.48 per share

Cineplex (TSX:CGX) reported box office revenues of C$33.9 million for May 2024, representing 71 per cent of the same month in 2023.

Year-to-date, Cineplex continues to outperform the North American box office relative to 2019 by 4.76 per cent.

The top films of the month were “Kingdom of the Planet of the Apes,” “The Fall Guy,” “Furiosa: A Mad Max Saga” and “IF,” accounting for 59 per cent of May’s box office revenue.

A significant 55.9 per cent of “Kingdom of the Planet of the Apes” box office revenues came from premium experiences and “Furiosa: A Mad Max Saga,” generated 77.6 per cent from premium experiences.

The theatre chain has also been working to broaden its content offerings and has noticed some success with that strategy, as international content accounted for 7.9 per cent of the May 2024 box office, compared with its North American peers at 1.7 per cent. The top three international films for the month were “Shinda Shinda No Papa,” “Je Jatt Vigarh Gya” and “Shayar.”

Period

2019 Box Office

2023 Box Office

2024 Box Office

2024 as a
Percentage of 2019

2024 as a
Percentage of 2023

January

$52,034

$45,743

$37,620

72 per cent

82 per cent

February

$41,892

$36,950

$28,222

67 per cent

76 per cent

March

$62,571

$40,644

$59,219

95 per cent

146 per cent

Q1 Total

$156,496

$123,338

$125,061

80 per cent

101 per cent

April

$63,759

$61,278

$29,183

46 per cent

48 per cent

May

$68,698

$47,514

$33,936

49 per cent

71 per cent

(i) Balances are in thousands of dollars.

“Looking ahead, the summer box office is starting to warm up with ‘Deadpool & Wolverine’ reaching C$1 million in pre-sales at Cineplex, in advance of its July 26 opening, outperforming ‘Deadpool’ and ‘Deadpool 2’s’ pre-sales,” Cineplex’s president and CEO, Ellis Jacob, said in a statement. “There is something for everyone with ‘Bad Boys: Ride or Die,’ ‘Inside Out 2,’ ‘A Quiet Place: Day One,’ ‘Despicable Me 4,’ ‘Twisters’ and ‘Alien: Romulus.’ With the remnants of the strikes behind us, we look to a stronger box office for the second half of 2024.”

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 (TSX:CGX) last traded at $7.48 per share and is down 10.63 per cent year-to-date.

Join the discussion: Find out what everybody’s saying about this value play candidate on the Cineplex Inc. Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.

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