Cineplex (TSX: CGX) declared a record-breaking box office weekend driven by the premiere of two of the summer’s hottest films, Barbie and Oppenheimer.
Generating over $19 million in revenue and attracting 1.4 million spectators, the films broke the company’s highest summer box office record as over 80,000 eager Barbenheimer fanatics opted to watch both films during the opening weekend. This feat also marked the company’s second-highest grossing box office weekend of all time, demonstrating the enduring appeal of theatrical movie experiences following Covid-19 closures.
The ‘Barbenheimer’ effect also played a pivotal role in making this the fourth-largest box office weekend in North American history. Barbie, with a domestic gross of around $155 million, established the largest opening weekend of 2023, while Oppenheimer pulled in $80.5 million domestically. Furthermore, Oppenheimer claimed the title of Cineplex’s largest IMAX opening, with the company’s premium offerings— including UltraAVX, IMAX, VIP Cinemas, and 70mm film— accounting for 59% of the film’s box office earnings.
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“This record-setting weekend box office performance of Barbie and Oppenheimer confirms that Canadians and movie-lovers around the world maintain their passion for the big screen that cannot be replicated at home,” said Cineplex CEO Ellis Jacob.
Information for this story was found via Cineplex and the sources mentioned within the article. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
