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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.
Universal Filmed Entertainment Group (UFEG) and Cinemark Holdings (NYSE: CNK) have announced a multi-year agreement to exhibit UFEG films in Cinemark theaters across the U.S. This deal ensures at least three weekends (17 days) of theatrical exclusivity for all Universal Pictures and Focus Features releases. Films that open to $50 million or more will enjoy a minimum of five weekends (31 days) exclusively in theaters before becoming available on premium video on demand (PVOD). The agreement aims to enhance the theatrical experience amidst changing consumer preferences.
Cinemark Holdings has opened CUT! By Cinemark Cypress, a new dine-in theatre in Houston featuring eight screens and an extensive menu. Enhancing the moviegoing experience, CUT! offers made-to-order meals, craft cocktails, and Cinemark Luxury Loungers in a modern setting. The venue includes a full in-theatre kitchen and outdoor patio. With 90% of theaters reopened, Cinemark boasts a 96% guest satisfaction rate. The venue follows health protocols, including disinfecting auditoriums and mandatory face masks, ensuring safety for guests and staff amidst ongoing health concerns.
Cinemark Holdings, a leading movie theatre company, is celebrating the holiday season by re-releasing over 25 classic films in theaters across the U.S. from now until January 7. The company is offering a buy one, get one free ticket promotion for holiday films and conducting giveaways of 1,000 Private Watch Parties. Standard pricing for these parties starts at $99. Additionally, Cinemark is enhancing safety measures in its theatres, with 90% of locations reopened and a 96% guest satisfaction rate. Promotions include gift card bonuses during Black Friday weekend.
Cinemark Holdings reported financial results for the three and nine months ended September 30, 2020, significantly impacted by the COVID-19 pandemic. With theatres reopening in June and August 2020, total revenues for Q3 2020 were $35.5 million, a stark decline from $2.5 billion in the same period in 2019. The net loss for Q3 2020 was $(147.6) million, with a diluted loss per share of $(1.25). For the nine months ended September 30, 2020, total revenues were $588.1 million, compared to $2.5 billion in 2019, reflecting the ongoing challenges in the exhibition industry.
Cinemark Holdings, one of the largest movie theatre companies, will reopen five theatres in Alameda County on October 27 and additional locations in Santa Clara County on October 30. With around 85% of its U.S. theatres open, it has achieved 97% guest satisfaction. The reopening includes enhanced safety protocols and features like exclusive Private Watch Parties. Cinemark is showcasing current movies, including Tenet, and classic films at reduced prices. However, food sales in specific locations will be restricted until further notice due to local regulations.
Cinemark Holdings, Inc. (NYSE: CNK) will announce its third quarter 2020 operating results on November 5 at 8:30 a.m. ET. The company encourages interested parties to join a live webcast or conference call, accessible 5-10 minutes prior to the start time. Details for the live webcast can be found on their Investor Relations website. The replay will also be available on their site for a limited time. Cinemark operates 534 theatres and 5,977 screens globally, emphasizing an exceptional movie-going experience.
Cinemark Holdings has announced the giveaway of an additional 1,000 Halloween Private Watch Parties due to overwhelming demand. The initial 1,000 parties were claimed within 13 minutes. The new giveaway begins on Friday, Oct. 16 at 10:31 a.m. CT. Private Watch Parties allow groups of up to 20 to rent an entire auditorium for a movie of their choice, starting at $99. In addition to the free parties, Halloween-themed movies will be featured, with special concessions pricing from Oct. 29 to Nov. 1. Cinemark has reported 97% guest satisfaction across its reopened theatres.
Cinemark Holdings is celebrating Halloween with a giveaway of 1,000 Private Watch Parties starting Oct. 9 at 10:31 a.m. CT. Customers can rent an entire auditorium for up to 20 guests for a standard price of $99. The first 1,000 individuals to check out for a Halloween Private Watch Party on Oct. 31 will receive it for free. Cinemark is also hosting Fright Nights showcasing classic Halloween films. Approximately 80% of theatres are reopened, maintaining a 97% guest satisfaction rate, backed by enhanced safety protocols against COVID-19.
Fathom Events and ReelWorks Studios announced a one-night exclusive re-release of THE TRUMP PROPHECY on October 8 at 7 p.m. local time in select cinemas. The film, which gained attention in 2018, shares a narrative based on The Trump Prophecies by Mark Taylor and Mary Colbert, focusing on themes of hope and healing. Tickets are available through Fathom Events and participating theaters. This re-release comes amid consumer demand and aims to deliver an inspiring message during challenging times.
Fathom Events and ReelWorks Studios announced the exclusive re-release of THE TRUMP PROPHECY in select cinemas on October 8, 2020, at 7 p.m. local time. The film, based on the book by Mark Taylor and Mary Colbert, recounts Taylor's journey through the 2016 election. CEO Rick Eldridge emphasized the need for hope and prayer for the nation, recalling the spontaneous prayer witnessed during the film's 2018 release. Tickets are available via Fathom Events and participating theaters.
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