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International Films Boost Cineplex Box Office
11 Feb
Summary
- Cineplex's fourth-quarter profit dropped to $369,000 from $3.3 million.
- Revenue fell nearly 2 percent as theater attendance dropped 1.8 percent.
- International films now represent over 10 percent of Cineplex's box office.
Cineplex reported a substantial decline in its fourth-quarter profits, with earnings dropping to $369,000 from $3.3 million in the same period last year. This decrease was attributed to a nearly 2 percent fall in revenue, reaching $334.8 million, as theater attendance saw an 1.8 percent dip to 10.1 million patrons.
Despite challenges from a weak October box office, Cineplex leveraged international movie titles like "Demon Slayer: Kimetsu No Yaiba Infinity Castle" and premium screen formats to bolster its performance. CEO Ellis Jacob highlighted that international content, which constituted over 10 percent of the box office in the latest quarter compared to pre-COVID levels of 2-2.5 percent, is crucial for diversification.
Looking ahead to 2026, Cineplex anticipates an improved box office driven by a stronger Hollywood slate and continued success with international films, including upcoming Hindi-language releases "Dhurandhar 2" and the epic "Ramayana." The company's Scene loyalty program also aids in reaching diverse audiences, contributing to the success of films previously not considered for certain markets. This strategic focus aims to stabilize venue counts and achieve robust financial results for the upcoming year.
