Cineplex Reports April
2023 Box Office Results
TORONTO, May 2, 2023
/CNW/ - (TSX: CGX) – Cineplex continues to welcome guests in
record-breaking numbers. This April was Cineplex's highest combined
April box office and theatre food service revenues of all time at
over $105 million. Over 4.8 million
guests across Canada flocked to
our theaters for April's top performing films including The
Super Mario Bros. Movie, which led the box office in
North America, as well as
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. This is particularly
impressive as April 2019 included the
opening weekend of Avengers: Endgame, the second highest
grossing film of all time, and it continues to hold the record for
the best April that we've ever had. To see April 2023 come within 4 per cent of the previous
record April box office is quite thrilling.
"The success of April results demonstrates a point you've heard
me say in the past – when there is compelling content, consumer
enthusiasm for theatrical moviegoing is insatiable. Even more
encouraging is that when guests enter our theatres, they treat
themselves to the full escape our venues offer," said Ellis Jacob. "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," Jacob
concluded.
Period
|
2019 Box Office
(i)
|
2023 Box Office
(i)
|
2023 as a Percentage
of 2019
|
January
|
$52,034
|
$45,744
|
88 %
|
February
|
$41,892
|
$36,950
|
88 %
|
March
|
$62,571
|
$40,644
|
65 %
|
Q1 2023
Total
|
$156,496
|
$123,338
|
79 %
|
April
|
$63,759
|
$61,278
|
96 %
|
(i) Amounts 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 a newly launched
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), digital place-based media (Cineplex Digital
Media) and amusement solutions (Player One Amusement Group).
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
and the United States. To learn
more, visit Cineplex.com.
Caution Regarding Forward-Looking
Statements
Certain information included in this news release contains
forward-looking statements within the meaning of applicable
securities laws. These forward-looking statements include, among
others, statements with respect to Cineplex's objectives, goals and
strategies to achieve those objectives and goals, as well as
statements with respect to Cineplex's beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words
"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, are intended to
identify forward-looking statements.
By their very nature, forward-looking statements involve
inherent risks and uncertainties, including those described in
Cineplex's Annual Information Form ("AIF") and its MD&A for the
year ended December 31, 2022 (
"MD&A"). These risks and uncertainties, both general and
specific, give rise to the possibility that predictions, forecasts,
projections and other forward-looking statements will not be
achieved. Certain material factors or assumptions are applied in
making forward-looking statements and actual results may differ
materially from those expressed or implied in such statements.
Cineplex cautions readers not to place undue reliance on these
statements, as a number of important factors, many of which are
beyond Cineplex's control, could cause actual results to differ
materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such
forward-looking statements. Cineplex's expectations with respect to
liquidity and capital expenditures, including its ability to meet
its ongoing capital, operating and other obligations, and
anticipated needs for, and sources of, funds; Cineplex's ability to
execute cost-cutting and revenue enhancement initiatives; and risks
generally encountered in the relevant industry, competition,
customer, legal, taxation and accounting matters. The foregoing
list of factors that may affect future results is not exhaustive.
When reviewing Cineplex's forward-looking statements, readers
should carefully consider the foregoing factors and other
uncertainties and potential events, including possible consequences
of COVID-19, its variants or other pandemics. Additional
information about factors that may cause actual results to differ
materially from expectations and about material factors or
assumptions applied in making forward-looking statements may be
found in the "Risks and Uncertainties" section of Cineplex's
MD&A.
Cineplex does not undertake to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
Canadian securities law. Additionally, we undertake no obligation
to comment on analyses, expectations or statements made by third
parties in respect of Cineplex, its financial or operating results
or its securities. All forward-looking statements in this news
release are made as of the date hereof and are qualified by these
cautionary statements. Additional information, including Cineplex's
AIF and MD&A, can be found on SEDAR at www.sedar.com.
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SOURCE Cineplex