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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.
On June 21, 2021, Fathom Events announced the return of RiffTrax Live with two new shows featuring Michael J. Nelson, Kevin Murphy, and Bill Corbett. The live screenings of Hobgoblins and Amityville Horror: The Evil Escapes will take place on August 16 and October 26, 2021, respectively. Over the past twelve years, RiffTrax has successfully screened 34 unique titles, achieving over 1.1 million tickets sold and $14.6 million in revenue. The partnership continues to thrive as RiffTrax fans eagerly await the return to theaters.
Cinemark Holdings has announced an expansion of its entertainment offerings by introducing esports in theaters and online. Starting June 20, customers can participate in drop-in gaming events with Nintendo Switch consoles at select theaters. A partnership with Mission Control will provide online esports leagues beginning June 21, featuring popular games like FIFA21 and NBA 2K21 for a $15 league entry fee. This initiative aims to cater to the gaming community and enhance Cinemark's position as a premier entertainment destination.
Cinemark Holdings (NYSE: CNK), a leading global movie theater exhibitor, announced participation in the Credit Suisse 23rd Annual Communications Investor Conference on June 15. CEO Mark Zoradi and SVP Investor Relations Chanda Brashears will host a fireside chat at 11:10 am ET, along with 1-on-1 investor meetings. Cinemark operates 523 theaters with 5,872 screens across 41 states and 15 countries, offering a premium movie experience through programs like Movie Club and XD formats.
Cinemark Holdings, Inc. (NYSE:CNK) announced the pricing of a private offering of $765 million in 5.25% Senior Notes due 2028. The offering is scheduled to close on June 15, 2021, and proceeds will be used to redeem existing 4.875% Senior Notes due 2023 and cover related fees. The Notes will be senior unsecured obligations, guaranteed by subsidiaries. This offering is exempt under the Securities Act for qualified buyers and will not be registered. Forward-looking statements discuss various expectations and risks, particularly related to market conditions and COVID-19.
Cinemark Holdings, Inc. (NYSE: CNK) announced a private offering by its subsidiary, Cinemark USA, Inc., of $765 million in senior notes due 2028. The offering aims to redeem existing 4.875% notes due 2023. These notes will be senior unsecured obligations, ranking equally with current senior debt. The proceeds will also cover associated fees. The offering is targeted at qualified institutional buyers and certain non-U.S. persons, and is exempt from registration under the Securities Act.
The Metropolitan Opera premiered Yannick: An Artist's Journey, a documentary by Susan Froemke, chronicling Yannick Nézet-Séguin's rise to the Met's Music Director. The film showcases his journey through home videos and rehearsals, highlighting his first performances in the 2018–19 season. The documentary will screen in over 600 U.S. cinemas on July 7, 2021, along with the Summer Encore series featuring operas like Porgy and Bess, Carmen, and Tosca. Tickets are available at FathomEvents.com.
Cinemark Holdings, a leading movie theatre company, and Paramount Pictures are set to host Hollywood's first significant theatrical fan event in over a year, featuring the premiere of A Quiet Place Part II on May 27. The event will be moderated by J. J. Abrams and include a Q&A with star John Krasinski, broadcast to 500 theatres nationwide. Early ticket sales have been strong, indicating robust demand as audiences return to cinemas. Cinemark emphasizes health and safety protocols to ensure a secure moviegoing experience for guests.
Cinemark Holdings has secured agreements to showcase films from all five major studios in its U.S. theatres, enhancing its content offerings. This follows a prior agreement with Universal and includes partnerships with Warner Bros., Disney, Paramount, and Sony. CEO Mark Zoradi expressed optimism about these developments, aiming to provide a broad range of films to boost attendance and box office performance during and post-pandemic. The specific terms of these agreements remain confidential, but they underline a commitment to a robust cinematic experience.
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