Cineplex Reports Strong June 2024 Box Office Results
Inside Out 2 Jumps for Joy as Cineplex's Highest Attended Opening Title of 2024
TORONTO, July 11, 2024 /CNW/ - (TSX: CGX) – Cineplex, Canada's leading entertainment and media company, reported box office revenues of $51.4 million for June 2024, representing 92% of the same month in 2023 and 90% of 2019.
Inside Out 2 has led the start of the summer blockbuster season on a high note, reaching over $1.0 billion at the global box office since its release and earning a spot as one of the highest-grossing animated films of all time. Other strong contributors last month included Bad Boys: Ride or Die, The Garfield Movie and A Quiet Place: Day One which was released closer to the end of the month. A Quiet Place: Day One generated 76% of its box office from Cineplex's premium experiences.
International content remains a strong contributor to Cineplex box office revenues, capturing 11.15% of the box office year to date compared to North American peers at 4.79%. So far, the top three international films for the year are Fighter, Jatt & Juliet 3 and Shinda Shinda No Papa.
"The box office is heating up as summer moviegoing has officially begun with Inside Out 2 starting things off," said Ellis Jacob, President and CEO, Cineplex. "As expected, we felt the prolonged impact of the Hollywood strikes and the disruptions in content supply in the first half of the year, but these impacts are now behind us, and we feel confident about a steady content supply going forward. We are excited about highly anticipated titles in July including, Despicable Me 4 which had a strong opening and Deadpool & Wolverine, which saw pre-sales hitting record numbers and is expected to be one of the highest grossing films for the summer."
Period | 2019 Box | 2023 Box Office | 2024 Box Office | 2024 as a | 2024 as a |
April | $63,759 | $61,278 | $29,183 | 46 % | 48 % |
May | $68,698 | $47,514 | $33,936 | 49 % | 71 % |
June | $56,914 | $55,699 | $51,359 | 90 % | 92 % |
Q2 Total | $189,371 | $164,491 | $114,478 | 60 % | 70 % |
(i) Balances are in thousands of dollars. | |||||
About Cineplex
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of over 170 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for 'Eats & Entertainment' (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in digital commerce (CineplexStore.com), alternative programming (Cineplex Events), motion picture distribution (Cineplex Pictures), cinema media (Cineplex Media) and digital place-based media (Cineplex Digital Media). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada. To learn more, visit Cineplex.com.
Caution Regarding Forward-Looking Statements:
Certain statements and/or information in this news release (identified by words such as "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective" and "continue" (or the negative thereof)), and words and expressions of similar import, and similar expressions suggesting future events or future performance are intended to identify forward-looking statements. Such forward-looking statements are based on expectations and assumptions made by Cineplex and are subject to risks and uncertainties which may be beyond Cineplex's control. A comprehensive discussion of risks that may impact Cineplex can be found in Cineplex's public reports and filings, including those described in Cineplex's Annual Information Form for the year ended December 31, 2022 ("AIF"), and the management's discussion and analysis for the year ended December 31, 2023 ("Annual MD&A"), which are available under the Company's profile on Sedar+ (www.sedarplus.ca). The foregoing list of factors that may affect future operations and results is not exhaustive. Readers are cautioned that undue reliance should not be placed on forward-looking statements as actual operations and results may vary materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. Cineplex does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.
SOURCE Cineplex
For more information, contact: Investors: Mahsa Rejali, Vice President, Corporate Development & Investor Relations, Cineplex, [email protected]; Cineplex Media Relations: Michelle Saba, Vice President, Communications, Cineplex, [email protected]
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