Welcome to our dedicated page for Cinemark Holdings news (Ticker: CNK), a resource for investors and traders seeking the latest updates and insights on Cinemark Holdings stock.
Cinemark Holdings, Inc. (NYSE: CNK), headquartered in Plano, Texas, is a leading player in the motion picture exhibition industry. With an impressive portfolio of 518 theatres and 5,847 screens across the United States and Latin America, Cinemark has established itself as a dominant force in the entertainment sector. As of recent data, the company operates the third-largest theatre circuit in the U.S., boasting 334 theatres and 4,489 screens across 41 states. In terms of box office revenues, Cinemark consistently ranks within the top two in 23 out of its top 30 U.S. markets.
Cinemark's strategic expansion into Latin America further highlights its geographical diversity, with 173 theatres and 1,257 screens spread across 14 countries. The company also extends its cinematic experience to audiences in Taiwan, solidifying its global presence.
The company's business model revolves around generating revenue from box office receipts and concession sales, with additional income streams from screen advertising, screen rentals, and other services such as transactional fees, vendor marketing promotions, studio trailer placements, meeting rentals, and electronic video games in select theatres. This diversified revenue model ensures a steady stream of income, even amidst the fluctuating dynamics of the entertainment industry.
Recent achievements and partnerships underscore Cinemark's commitment to innovation and customer satisfaction. Notably, Cinemark is part of a joint venture with AMC Entertainment Inc. and Regal, forming Fathom Events, which distributes alternative content and experiences to cinema audiences across North America and beyond.
BROADWAY RISING is a feature documentary by Fathom Events and Vertical, highlighting Broadway's post-pandemic recovery journey. Set for theatrical release on December 5, 2022, the film showcases the industry’s struggles and resilience following the COVID-19 shutdowns, which impacted an industry contributing nearly $15 billion to New York City's economy and supporting 97,000 jobs. Directed by Amy Rice, the screening includes exclusive content with insights from industry professionals. Tickets are available through Fathom Events and select theaters.
Cinemark Holdings announces the grand opening of its Cinemark Missouri City and XD theatre in Fort Bend County, Texas. This 14-screen location features immersive XD screens and Luxury Lounger recliners, enhancing the moviegoing experience. It opens just in time for the anticipated release of Marvel Studios’ Black Panther: Wakanda Forever. This new theatre showcases a refreshed design and advanced technologies, aiming to provide a superior cinematic experience for Houston audiences.
National CineMedia reported robust Q3 2022 results, with total revenue rising 71.9% to $54.5 million, driven by a strong advertising resurgence. The operating loss improved significantly to $4.2 million, while adjusted OIBDA turned positive at $7.0 million, contrasting with a loss of $8.2 million in Q3 2021. For Q4 2022, revenue is projected between $85.0 million and $95.0 million, while full-year revenue is expected to reach $242.5 million to $252.5 million, up substantially from 2021.
Cinemark Holdings reported a 50% increase in total revenue to $650.4 million for Q3 2022, driven by 48.4 million patrons and admissions revenue of $324.6 million. The company's net loss shrank significantly to $(24.5) million, an improvement from $(77.8) million in Q3 2021. Adjusted EBITDA soared over 125% to $99.5 million. Year-to-date box office results increased by 130%, emphasizing a strong recovery as COVID-related delays subside. Cinemark plans to open 2 new theatres and 19 screens by year-end, with ongoing confidence in future theatrical exhibitions.
National CineMedia, Inc. (NASDAQ: NCMI) will release its fiscal third quarter 2022 earnings results on November 7, 2022, after market close. A conference call to discuss these results is set for 5:00 p.m. Eastern Time the same day. Participants can access the call by dialing (888) 394-8218, with an international option available. The live audio webcast will be hosted on www.ncm.com under Investor Relations. A replay will be accessible until November 21, 2022.
The Chosen, a popular multi-episode series based on Jesus' life, is set to premiere its third season on Nov. 18 in over 2000 theaters across the U.S. and English-speaking territories. The show, which boasts over 420 million views, has gained acclaim for its historical accuracy and has been translated into 62 languages. Distributed by Fathom Events, the first two episodes will be shown multiple times over five days. The series has successfully engaged viewers without subscription fees, relying on fan support.
Fathom Events announces the special one-night theatrical event for the new Christmas movie, IT'S CHRISTMAS AGAIN, on November 29 at 7:00 PM local time. The film, featuring actors Lawson Touliatos, Leela Owen, and others, explores the true meaning of Christmas through a modern-day musical format with ten original songs. Tickets are available online and at theater box offices. Additionally, the film will also be released in churches through the Faith Content Network, enhancing its outreach to various audiences.
Cinemark Holdings, Inc. (NYSE:CNK) will report its third quarter 2022 operating results on November 4, 2022, before market opening. A conference call will occur at 8:30 a.m. ET, accessible via live webcast. Cinemark operates 521 theatres with 5,855 screens across 42 states and 15 countries in South and Central America. The company is known for its guest experience enhancements, such as the Movie Club subscription program and luxury seating options.
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