Cinemark Delivers Best COVID-Era Box Office Performance in Month of October

Rhea-AI Summary

Cinemark Holdings, Inc. (NYSE: CNK) reported its highest box office performance in October since the pandemic began, welcoming millions of moviegoers across its U.S. theatres. The month featured major releases such as Venom: Let There Be Carnage and No Time To Die, contributing to a box office figure more than double that of May 2021. CEO Mark Zoradi celebrated this milestone as a sign of recovery in the theatrical exhibition industry. Looking ahead, Cinemark anticipates continued success with upcoming releases through the end of 2021 and into 2022.

Positive

• Achieved highest box office performance in October post-COVID.
• Box office revenue more than double that of May 2021.
• Strong releases including Venom: Let There Be Carnage and No Time To Die attracted millions of viewers.
• Positive industry recovery trends noted by CEO Mark Zoradi.

Negative

• None.

October box office performance underscores the ongoing demand for strong consumer-appeal film content shown in the immersive, cinematic environment

PLANO, Texas--(BUSINESS WIRE)-- Cinemark Holdings, Inc., one of the world’s largest and most influential movie theatre companies, today announced that October was the company’s highest grossing box office performance month in the COVID era. The exhibitor welcomed millions of moviegoers across its completely open U.S. circuit throughout the month, providing the unparalleled cinematic experience for this year’s newest films.

“Moviegoer enthusiasm for the in-theatre experience reinforces the power of watching a great film in our larger-than-life immersive environment with our bingeworthy popcorn,” said Cinemark CEO Mark Zoradi. “I am thrilled that we have reached a new milestone within the industry’s recovery, delivering our best monthly box office performance since the reopening of our theatres. I want to thank our entire Cinemark team that has worked tirelessly to provide a premium out-of-home entertaining escape for moviegoers. Congratulations to our studio partners for creating must-see big-screen content with something for everyone.”

Theatrical exhibition has been recovering from the dramatic impact of COVID-19 since its phased reopening began in mid-2020. Following the industry’s ramp-up in the first half of 2021, the month of October was a pivotal turning point. The month’s releases brought big-screen laughs, action, screams, family fun and heartwarming moments, offering something for every kind of movie lover. Venom: Let There Be Carnage kicked off the month with Cinemark’s best October opening ever, and the excitement kept coming with releases such as James Bond’s No Time To Die, Halloween Kills, The Addams Family 2, Dune, and others. Of course, fans also enjoyed September’s biggest film, Shang-Chi and the Legend of the Ten Rings.

The lineup of films brought millions and millions of fans to Cinemark theatres across its 42 states. Cinemark’s October’s box office performance alone was more than double that of May 2021, demonstrating that people are growing more and more eager to watch content on the big screen and enjoy the immersive viewing environment.

Exhibition will continue its resurgence over the remainder of 2021 including highly anticipated releases such as Eternals, Ghostbusters: Afterlife, Encanto, West Side Story, Spider-Man: No Way Home, Matrix Resurrections and Sing 2 in addition to a robust release calendar in 2022.

About Cinemark Holdings, Inc.

Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 521 theatres (323 U.S., 198 South and Central America) with 5,864 screens (4,426 U.S., 1,438 South and Central America) in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20211031005016/en/

Cinemark Media Contact:

Julia McCartha

pr@cinemark.com

Investor Contact:

Chanda Brashears

investors@cinemark.com

Source: Cinemark Holdings, Inc.

FAQ

What was Cinemark's box office performance in October 2021?

Cinemark reported its highest box office performance since the pandemic began in October 2021.

Which major films contributed to Cinemark's October 2021 revenue?

Major films included Venom: Let There Be Carnage, No Time To Die, and Shang-Chi and the Legend of the Ten Rings.

How did Cinemark's October 2021 box office compare to previous months?

October 2021's box office performance was more than double that of May 2021.

What upcoming films does Cinemark anticipate for late 2021 and 2022?

Anticipated releases include Eternals, Ghostbusters: Afterlife, and Spider-Man: No Way Home.