
Cineplex CEO Sees Theatrical at “Pivotal Point” in Post-Strike Rebound

Canadian exhibition giant Cineplex underlined the impact of its Hollywood movie supply upended by the 2023 actors and writers strikes as it released its second quarter financial results on Friday.
Cineplex saw box office revenue drop 30 percent to $114.5 million, and theater attendance, especially in April and May, was off by nearly 32 percent to 8.7 million moviegoers for the quarter, due in large part to the post-strike disruption to the chain’s release schedule with a reduced supply of product.
Box office rebounded in June with the release of Inside Out 2, followed by box office success with Despicable Me 4 and Twisters. But the prolonged impact of the Los Angeles labor action last year had by then been felt.
Cineplex swung to a Q2 loss of $21.4 million, compared to a year-ago profit of $176.5 million, on overall revenue down 25 percent to $277.3 million.
Despite the industry headwinds from the post-strikes overhang, Cineplex CEO Ellis Jacob...
Cineplex saw box office revenue drop 30 percent to $114.5 million, and theater attendance, especially in April and May, was off by nearly 32 percent to 8.7 million moviegoers for the quarter, due in large part to the post-strike disruption to the chain’s release schedule with a reduced supply of product.
Box office rebounded in June with the release of Inside Out 2, followed by box office success with Despicable Me 4 and Twisters. But the prolonged impact of the Los Angeles labor action last year had by then been felt.
Cineplex swung to a Q2 loss of $21.4 million, compared to a year-ago profit of $176.5 million, on overall revenue down 25 percent to $277.3 million.
Despite the industry headwinds from the post-strikes overhang, Cineplex CEO Ellis Jacob...
- 09/08/2024
- di Etan Vlessing
- The Hollywood Reporter - Movie News
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