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.
Cinemark Holdings (NYSE: CNK) celebrated its all-time best September domestic box office weekend, driven by the release of Beetlejuice Beetlejuice. The sequel to the cult classic not only set a record for Cinemark's biggest domestic opening weekend box office for a September title but also led to record-breaking results in premium formats and concessions sales for the month.
Moviegoers' enthusiasm for the theatrical experience was evident as they sought to maximize their 'neitherworldly adventure' through premium offerings like Cinemark XD and D-BOX motion seats. The success of Beetlejuice Beetlejuice demonstrates the strong, sustained momentum in moviegoing when compelling content is brought to the big screen.
Cinemark anticipates continued enthusiasm with upcoming releases like Transformers One, Joker: Folie à Deux, and Moana 2. The company also highlighted its Cinemark Movie Rewards program and convenient concessions ordering options as part of its enhanced moviegoing experience.
Brandon Lake and Phil Wickham, acclaimed worship artists, are releasing 'FOR THE ONE' tour documentary in theaters nationwide from October 27-29, 2024, through Fathom Events. The film showcases their Summer Worship Nights Tour performances and delves into the personal stories behind their music. Directed by Noah Taher and produced by Ken Carpenter, the documentary aims to inspire audiences with its blend of music, worship, and community.
The film is distributed by Fathom Events, a leader in cinema distribution owned by AMC Entertainment Inc. (NYSE: AMC), Cinemark Holdings, Inc. (NYSE: CNK), and Regal. Both Lake and Wickham are GRAMMY®-winning and Dove Award-winning artists known for their impactful worship music and performances.
LAIKA's Coraline celebrates its 15th anniversary with a stunning global box office performance, amassing $38.3M since its August 15th re-release. The newly remastered 3D version has captivated audiences worldwide, surpassing expectations in multiple markets. In the UK, it's now the #2 top film re-release of all time, trailing only Titanic. Mexico's ticket sales have exceeded the film's original 2009 run.
The re-release includes a sneak peek of LAIKA's upcoming film, Wildwood, making it a must-see summer event. Fathom and Trafalgar Releasing have extended dates and added territories due to overwhelming demand. The success reaffirms Coraline's status as a timeless cinematic masterpiece, drawing multiple generations of moviegoers and showcasing LAIKA's pioneering work in stop-motion animation.
GND Media Group, Pure Flix, and Fathom have released the official trailer for AVERAGE JOE, set to premiere in theaters nationwide on October 11, 2024. Directed by Emmy Award-winner Harold Cronk, the film stars Eric Close and Amy Acker. It's based on the true story of US Marine (ret.) and high school football coach Joseph Kennedy, chronicling his fight for religious freedom and his job after being fired for praying on the field after games.
The movie aims to inspire audiences and highlight the importance of religious freedom and freedom of speech. Tickets are now available for purchase online and at participating theater box offices. Fathom Events, owned by AMC Entertainment Inc. (NYSE: AMC), Cinemark Holdings, Inc., and Regal, is distributing the film to theaters across the U.S. and in over 45 countries.
LAIKA's 15th Anniversary re-release of 'Coraline' has surpassed box office expectations, grossing over $20M worldwide. The newly remastered 3D version, distributed by Fathom in the U.S. and Trafalgar Releasing internationally, has been extended through August 29th due to overwhelming demand.
Highlights include:
- $12.5M in U.S. ticket sales, ranking #4 at the domestic box office
- Record-breaking performance in Mexico, becoming the highest-grossing re-release in the country's cinema history
- Strong showings in various international markets, ranking in the top 5 in multiple countries
- Additional territories added, including Philippines, Dominican Republic, Ecuador, Chile, Peru, and France
The re-release also features a preview of LAIKA's upcoming film, 'Wildwood', making it a must-see summer event for animation enthusiasts.
National CineMedia (NASDAQ: NCMI) reported its fiscal Q2 2024 results, with total revenue of $54.7 million, exceeding guidance but decreasing 15.1% year-over-year. The company's advertising revenue per attendee reached $0.56, the highest Q2 level since 2017. National advertising revenue per attendee increased by 37% year-over-year. Operating loss widened to $9.3 million from $2.2 million in Q2 2023. Adjusted OIBDA decreased to $7.6 million from $12.5 million in the same period last year.
For Q3 2024, NCM expects total revenue between $56.0 million to $58.0 million and Adjusted OIBDA in the range of $6.0 million to $8.0 million. The company remains confident in the box office's resurgence and its ability to capitalize on this momentum.
Cinemark Holdings (NYSE: CNK) reported its Q2 2024 results, showing total revenue of $734 million, net income of $47 million, and Adjusted EBITDA of $142 million with a strong 19.4% margin. The company entertained 50 million moviegoers globally and outperformed the North American industry recovery by 400 basis points. Cinemark maintained market share growth versus FY 2019 in both the U.S. and Latin America.
Despite a 22.1% decrease in total revenue compared to Q2 2023, Cinemark demonstrated financial flexibility by strengthening its balance sheet. Key actions included redeeming $150 million in senior secured notes, repricing a term loan to save $3.2 million annually, and issuing $500 million in unsecured notes. The company continues to invest in growth, with approximately $150 million expected to be deployed in 2024.
National CineMedia, Inc. (NASDAQ: NCMI), the operator of the largest cinema advertising platform in the U.S., has announced its plans to release second quarter 2024 earnings results on August 5, 2024, after market close. The company will host a conference call and audio webcast at 5:00 p.m. Eastern Time to discuss the results.
Participants can join the conference call by dialing (877) 300-8521 (U.S.) or (412) 317-6026 (international). A live audio webcast will be available on the company's website. The replay of the conference call will be accessible until August 19, 2024, and an audio webcast replay will also be available on the website.
Cinemark Holdings, Inc. announced record-breaking results for the opening weekend of Deadpool & Wolverine. The film achieved Cinemark's highest-ever domestic opening box office for a summer release, surpassing all previous May-August openings. It also set records for Cinemark XD and D-BOX motion seats, highlighting consumer demand for immersive movie experiences.
The weekend also marked Cinemark's highest concessions revenue since the pandemic, with merchandise sales among the best ever. This success underscores the strong appetite for theatrical experiences and expanded food and beverage offerings. Cinemark's CEO, Sean Gamble, expressed optimism about the future of theatrical exhibition, citing the film's performance as evidence of robust consumer enthusiasm for moviegoing.
Cinemark Holdings (NYSE: CNK), a leading global motion picture exhibitor, has announced its plans to release second quarter 2024 operating results and host an earnings conference call. The company will report its financial results pre-market on Friday, August 2, 2024, followed by a webcast and conference call at 8:30 a.m. Eastern Time. Interested parties can access the live webcast through a provided link, with a replay available on Cinemark's Investor Relations website after the call. This event offers investors and analysts an opportunity to gain insights into Cinemark's financial performance and discuss the company's outlook for the remainder of 2024.
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