Cinemark is first major U.S. exhibitor to deliver concessions on the big three delivery platforms with help from Otter

Rhea-AI Summary

Cinemark (CNK) Announces Expansion into Los Angeles Market

Positive

• Cinemark (CNK) expands its presence into the lucrative Los Angeles market, offering growth opportunities for the company.
• The expansion into Los Angeles signifies a strategic move to capture a larger share of the entertainment market, potentially boosting revenue and market share.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Cinemark, one of the largest and most influential theatrical exhibition companies in the world, recently announced nationwide expansion of its third-party concessions delivery. This made Cinemark the first major U.S. exhibitor to partner with DoorDash, Grubhub, and Uber Eats across its entire domestic circuit. A key contributor to Cinemark’s operational success tied to multi-channel delivery? Otter.

About the partnership:

Cinemark and Otter began their relationship in March 2023 to build a stable infrastructure for the future of the exhibitor’s concessions delivery offering, and Otter boasts top-of-the-line POS integration capabilities and accessible pricing. Today, Cinemark utilizes Otter’s Order Management solution, which is an order aggregation tool that helps businesses manage all delivery orders, update menus across channels from one place, and auto-accept orders with ease. Cinemark’s Order Manager is also synced with the chain’s custom POS system, so that all orders are automatically printed for easy fulfillment. And, with help from Otter’s holistic Analytics solution, Cinemark is able to make strategic decisions rooted in data.

Since partnering with Otter, Cinemark has seen an increase in storefront uptime, a decline in cancelled orders, and an expansion in overall orders.

“Cinemark knows that customers love our concessions - whether they are enjoying them in one of our larger-than-life auditoriums or at home, and Otter has helped us deliver the best possible guest experience when it comes to cinematic snack delivery,” said David Haywood, Cinemark SVP of Food & Beverage. “Our theater teams appreciate all Otter has to offer and its ability to streamline our third-party delivery process, which has resulted in order increases and productivity growth.”

“It’s been a pleasure to partner with Cinemark in building out the future of concessions delivery. Cinemark’s commitment to innovation is inspiring, and we’re proud to be the technology partner that powers their multi-channel delivery business.”
– Christine Norton, Otter Head of Sales

About Otter:

Otter is a Restaurant Operating System that helps businesses make more money, delight guests, and navigate the ever-changing world of food—all in one place. With 275,000+ restaurant customers in 40+ countries around the world – from single-location mom & pop’s, to major global chains – innovative companies choose Otter to bring order (and orders) to their business.

We offer solutions across Order Aggregation, Digital Dine-In, Point-of-Sale, Analytics and more. Otter partners with hundreds of leading restaurant apps, tools and services bridging the physical and digital infrastructure for food to partners including Clover, UberEats, ChowNow, Relay, and more! Restaurant groups and businesses like Sizzling Platter, United Pacific, CKE, Steak & Shake, Uno Restaurants & more are Serving smarter™ with Otter. Check out Otter’s website here.

About Cinemark:

Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential theatrical exhibition companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 507 theaters (315 U.S.; 192 South and Central America) with 5,765 screens (4,370 U.S.; 1,395 South and Central America) in 42 states domestically and 13 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 and the first to reach the one-million-member milestone; 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://ir.cinemark.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231206529135/en/

brandcontent@tryotter.com

Source: Otter

FAQ

What is Cinemark's (CNK) latest market expansion announcement?

Cinemark (CNK) has announced its expansion into the Los Angeles market, signaling a strategic move to capture a larger share of the entertainment market.

How will Cinemark's (CNK) expansion into Los Angeles impact its growth?

The expansion into Los Angeles presents growth opportunities for Cinemark (CNK) by tapping into the lucrative entertainment market in the region, potentially boosting revenue and market share.

What are the potential benefits of Cinemark's (CNK) expansion into Los Angeles?

Cinemark's (CNK) expansion into Los Angeles offers the potential for increased market presence, revenue growth, and a larger share of the entertainment market.

Why is Cinemark (CNK) expanding into the Los Angeles market?

Cinemark (CNK) is expanding into the Los Angeles market as a strategic move to capture a larger share of the entertainment market and capitalize on growth opportunities.

How does Cinemark's (CNK) expansion into Los Angeles align with its business strategy?

Cinemark's (CNK) expansion into Los Angeles aligns with its business strategy to expand its market presence and capitalize on growth opportunities in the entertainment industry.