Cineplex (TSX: CGX), one of Canada’s leading cinema chains, has reported its third-highest box office revenues for the month of August — all thanks to the Barbenheimer craze.
The company generated $68 million in box office revenues during the month, equivalent to 120% of the earnings in August 2019.
The films Barbie and Oppenheimer contributed 33% and 19%, respectively, to the total box office earnings. Cineplex welcomed over 6.1 million movie-goers in August, surpassing attendance levels from August 2019 by 107%. National Cinema Day on August 27th saw nearly 700,000 Canadians flocking to Cineplex locations, making it the second busiest day in the company’s history.
“These financial results represent our strongest combined July and August ever,” said Ellis Jacob, President & CEO of Cineplex.
The company has also announced the upcoming theatrical concert film experience, TAYLOR SWIFT | THE ERAS TOUR, scheduled to debut in over 150 Cineplex theaters on October 13th. Pre-sale tickets for the film have already exceeded 212,000, generating over $4.7 million in revenue, positioning it as the third-largest pre-sale in history, behind only Avengers: Endgame and Spider-Man: No Way Home.
Information for this story was found via Cineplex, and the sources and companies mentioned. 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.
