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National CineMedia Expands Network Adds VIP Cinemas and Closes Ten Additional Exhibit Partnerships including MJR and Cinergy Entertainment
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
National CineMedia (NCM) has announced an expansion of its network by partnering with VIP Cinemas to secure 800 screens and approximately 16.5 million annual attendees. The family-owned chain, with theaters across eight states, aims to enhance revenues post-COVID-19. NCM is also renewing agreements with 10 additional exhibitors, emphasizing their commitment to delivering engaging content and advertising. The fourth quarter of 2022 will feature major film releases, potentially boosting NCM's audience engagement and advertising revenue further.
Positive
Expansion of NCM's network by securing 800 screens and 16.5M annual attendees.
Renewed agreements with 10 exhibitors, enhancing stability and growth potential.
Positive industry outlook with tentpole movie releases scheduled for late 2022.
Negative
None.
New Deals Secure 800 screens and 16.5M annual attendees
CENTENNIAL, Colo.--(BUSINESS WIRE)--
National CineMedia (NCM), America’s largest movie network uniting brands with young, diverse movie audiences, today announced the expansion of its network with the addition of VIP Cinemas. Headquartered in Lafayette, Indiana, VIP Cinemas is a family-owned and operated circuit of seventeen theaters across eight states. From South Florida to Central Kansas, VIP recognizes the value of bringing the big screen to communities of every size.
NCM is also extending service agreements with an additional 10 exhibitors in the U.S. including Cinergy Entertainment, GQT Movies, MJR Digital Cinemas and United Entertainment Corp, securing more than 800 screens and approximately 16.5M annual attendees to its network for the long term.
"As a small theater chain emerging out of COVID-19, maximizing revenues and reducing workloads through streamlined processes have become top priorities. NCM has demonstrated they are the perfect strategic partner to achieve both of those goals," shared Jake McSparin of VIP Cinemas.
“It’s such a pleasure to continue providing top-notch pre-show entertainment and revenue to these partners,” said Jennifer Lupo, NCM’s Vice President for Affiliate Partnerships. “As we’ve re-imagined our Noovie® pre-show to be more engaging and relevant to movie-going audiences, we’re proud to have the support and trust of the exhibitor community. Together, providing the best patron experience is our goal.”
“We are excited to renew and continue our partnership with NCM. They have been a tremendous partner of ours at MJR Theatres and their innovation and commitment to the theatrical experience has been exceptional. They stepped up and stayed diligent during the pandemic and have come out on the other side with an even stronger and more creative approach to digital advertising that will benefit MJR and our guests. It’s a pleasure to work with such a devoted and talented group of individuals,” said Joel Kincaid, Vice President of Operations, MJR.
The fourth quarter of 2022 is home to multiple tentpole movie releases including Black Panther: Wakanda Forever, Avatar: The Way of the Water and Black Adam—all blockbusters that will continue to drive NCM’s young and diverse audience into theaters.
“We are very pleased to renew our partnership with NCM. We’ll be able to continue to show NCM’s engaging pre-show, and we’ll be adding their newest content offerings to share with our guests. Cinema exhibition is back, and the movies are as good as ever. This renewed partnership between Cinergy and NCM reflects the historical durability and a new future for the cinema industry,” said Cinergy Entertainment CFO Rich Schwarte.
Reaching hundreds of millions of moviegoers annually, the NCM® network features over 1,650 theaters with more than 20,600 screens throughout the US, including both regional and national exhibitors such as AMC, Regal and Cinemark. NCM’s network of premiere exhibitors gain access to the Noovie family of content including Noovieverse, Perri’s Picks and The Noovie Trivia Show.
About NCM
National CineMedia (NCM) is America’s Movie Network. As the largest cinema advertising network in the U.S., NCM unites brands with young diverse audiences through the power of movies and popular culture. NCM’s Noovie® pre-show is presented exclusively in 50 leading national and regional theater circuits including AMC Entertainment Inc. (NYSE: AMC), Cinemark Holdings, Inc. (NYSE: CNK) and Regal Entertainment Group (a subsidiary of Cineworld Group PLC. LON: CINE). NCM’s cinema advertising network offers broad reach and unparalleled audience engagement with over 20,600 screens in over 1,650 theaters in 195 Designated Market Areas® (all of the top 50). NCM Digital and Digital Out-of-Home (DOOH) goes beyond the big screen, extending in-theater campaigns into online, mobile, and place-based marketing programs to reach entertainment audiences. National CineMedia, Inc. (NASDAQ: NCMI) owns a 47.4% interest in, and is the managing member of, National CineMedia, LLC. For more information, visit www.ncm.com and www.noovie.com.
Forward-Looking Statements
This press release contains various forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, that reflect management’s current expectations or beliefs regarding, among other things, expectations regarding blockbuster movie status future audience levels, consumer preferences and behavior, and the appeal of NCM’s advertising network. Forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. Please refer to National CineMedia, Inc.’s (“NCM, Inc.”) Securities and Exchange Commission filings, including the “Risk Factor” section of the NCM Inc.’s Annual Report on Form 10-K for the year ended December 30, 2021 and subsequent Quarterly Reports on Form 10-Q, for further information about risks and uncertainties that could cause actual results to differ materially. Investors are cautioned that reliance on these forward-looking statements involves risks and uncertainties. NCM undertakes no obligation to update any forward-looking statement, whether as a result, of new information, future events or otherwise, except as required by law.
