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Reading International, Inc. (RDI) is a diversified entertainment and real estate company operating in the United States, Australia, and New Zealand. The company is divided into two main segments: Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas under various brands, including Reading Cinemas, Angelika Film Centers, Consolidated Theatres, and City Cinemas. As of December 31, 2019, this segment boasted interests in 60 cinemas with approximately 498 screens.
The Real Estate segment focuses on the development, rental, and licensing of retail, commercial, and live theater assets. The company holds fee interests in properties such as 44 Union Square in Manhattan, entertainment-themed centers, and several cinemas across the U.S., Australia, and New Zealand.
Recent achievements include record-breaking advance ticket sales for the concert film TAYLOR SWIFT: THE ERAS TOUR, which premiered on October 13. This event was celebrated with private watch parties, collectibles, and more.
Reading International also provides regular updates on its financial performance and strategic initiatives, including extensive earnings calls and webcasts. The company remains committed to its diversification strategy and seeks to monetize its real estate assets while expanding its cinema operations. With partnerships and properties across major markets, Reading International continues to deliver a robust entertainment experience and valuable real estate developments.
Reading International, Inc. (NASDAQ: RDI) announced its Q4 and full year 2022 financial results, with total revenues reaching $203.1 million, a 46% increase from 2021. However, Q4 revenues fell 5.4% to $47.2 million compared to the previous year due to a weaker film slate. The company reported an operating loss of $8.4 million for Q4 2022, up from $4.3 million in Q4 2021, and a net loss of $13.2 million. The cinema segment showed promise with a 51% increase in revenues for the year, while real estate revenues rose 32%. Looking ahead, the company is optimistic about increased theatrical releases in 2023.
Reading International, Inc. (NASDAQ: RDI) reported a significant 61% year-over-year revenue growth in Q3 2022, reaching $51.2 million, despite challenges like a soft Hollywood slate and currency fluctuations. The company's operating loss improved by 40% to $6.7 million, and net loss decreased by 49% to $5.2 million. Key developments include the resolution of an arbitration in New Zealand and ongoing real estate strategies in the U.S. The company remains optimistic about upcoming films and continues to enhance its cinema and real estate segments.
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