Reading International reports strong 2024 Holiday Box Office Results
Reading International (NASDAQ: RDI) reported exceptional box office performance during the 2024 holiday season across its global cinema operations. The company achieved several records, particularly in Australia, where both November and December 2024 set all-time box office revenue records, surpassing pre-pandemic levels from 2019.
The success was driven by major Hollywood blockbusters including Wicked, Moana 2, Gladiator II, Mufasa: The Lion King and Sonic the Hedgehog 3. The company's specialty Angelika brand theaters also performed well with award-winning films. In New Zealand and the United States, operations reached their highest box office numbers since the pandemic for both November and December 2024.
In Australia, RDI launched a new Reading Rewards loyalty program, offering points earning and redemption for tickets and concessions. A premium Boost tier membership is available for AUS$20 annually, providing 15% off tickets, 10% off food and beverage, double points, and exclusive promotions.
Reading International (NASDAQ: RDI) ha registrato un eccezionale successo al botteghino durante la stagione delle festività del 2024 nelle sue operazioni cinematografiche globali. L'azienda ha raggiunto diversi record, in particolare in Australia, dove sia novembre che dicembre 2024 hanno registrato entrate al botteghino senza precedenti, superando i livelli pre-pandemia del 2019.
Il successo è stato guidato da importanti blockbuster di Hollywood come Wicked, Moana 2, Gladiator II, Mufasa: Il Re Leone e Sonic the Hedgehog 3. Anche i cinema del marchio Angelika, specializzati in film premiati, hanno ottenuto buoni risultati. In Nuova Zelanda e negli Stati Uniti, le operazioni hanno raggiunto i loro numeri di botteghino più elevati dalla pandemia sia per novembre che per dicembre 2024.
In Australia, RDI ha lanciato un nuovo programma di fedeltà Reading Rewards, che offre guadagni e redemption di punti per biglietti e ristorazione. È disponibile un abbonamento premium Boost per AUS$20 all'anno, che offre il 15% di sconto sui biglietti, il 10% di sconto su cibo e bevande, punti doppi e promozioni esclusive.
Reading International (NASDAQ: RDI) reportó un desempeño excepcional en taquilla durante la temporada de vacaciones de 2024 en sus operaciones cinematográficas globales. La compañía logró varios récords, particularmente en Australia, donde tanto noviembre como diciembre de 2024 establecieron ingresos récord en taquilla, superando los niveles prepandémicos de 2019.
El éxito fue impulsado por grandes éxitos de Hollywood como Wicked, Moana 2, Gladiator II, Mufasa: El Rey León y Sonic the Hedgehog 3. También los cines de la marca Angelika, especializados en películas premiadas, tuvieron un buen rendimiento. En Nueva Zelanda y Estados Unidos, las operaciones alcanzaron los números más altos de taquilla desde la pandemia tanto en noviembre como en diciembre de 2024.
En Australia, RDI lanzó un nuevo programa de lealtad Reading Rewards, que ofrece ganar y canjear puntos por entradas y concesiones. Hay una membresía premium Boost disponible por AUS$20 al año, que ofrece un 15% de descuento en entradas, un 10% de descuento en comida y bebida, puntos dobles y promociones exclusivas.
Reading International (NASDAQ: RDI)는 2024년 연휴 시즌 동안 전 세계 영화관 운영에서 뛰어난 박스 오피스 성과를 보고했습니다. 이 회사는 특히 호주에서 여러 기록을 세웠으며, 2024년 11월과 12월은 모두 역사적인 박스 오피스 수익 기록을 세우며 2019년의 팬데믹 이전 수준을 초과했습니다.
이 성공은 Wicked, Moana 2, Gladiator II, Mufasa: 라이온 킹 및 Sonic the Hedgehog 3와 같은 주요 할리우드 블록버스터에 의해 주도되었습니다. 수상작 영화가 상영되는 Angelika 브랜드 극장도 좋은 성과를 거두었습니다. 뉴질랜드와 미국에서는 팬데믹 이후 2024년 11월과 12월 모두에서 가장 높은 박스 오피스 수치를 기록했습니다.
호주에서는 RDI가 Reading Rewards라는 새로운 로열티 프로그램을 출시하여 티켓 및 매점 아이템을 위한 포인트 적립 및 사용을 제공합니다. 프리미엄 Boost 등급의 가입은 연간 AUS$20로 제공되며, 티켓 15% 할인, 음식 및 음료 10% 할인, 포인트 두 배와 독점 프로모션을 제공합니다.
Reading International (NASDAQ: RDI) a enregistré une performance exceptionnelle au box-office pendant la saison des fêtes de 2024 à travers ses opérations cinématographiques mondiales. La société a établi plusieurs records, notamment en Australie, où novembre et décembre 2024 ont établi des revenus record au box-office, dépassant les niveaux d'avant la pandémie de 2019.
Le succès a été impulsé par de grands blockbusters d'Hollywood tels que Wicked, Moana 2, Gladiator II, Mufasa: Le Roi Lion et Sonic the Hedgehog 3. Les cinémas de la marque Angelika, spécialisés dans les films primés, ont également bien performé. En Nouvelle-Zélande et aux États-Unis, les opérations ont atteint leurs plus hauts chiffres d'affaires au box-office depuis la pandémie, tant en novembre qu'en décembre 2024.
En Australie, RDI a lancé un nouveau programme de fidélité Reading Rewards, offrant la possibilité de gagner et de racheter des points pour des billets et des concessions. Un abonnement premium Boost est disponible pour AUS$20 par an, offrant 15 % de réduction sur les billets, 10 % de réduction sur la nourriture et les boissons, des points doublés et des promotions exclusives.
Reading International (NASDAQ: RDI) hat in der Feiertagssaison 2024 eine außergewöhnliche Leistung an den Kinokassen in seinen weltweiten Kinobetreibungen erzielt. Das Unternehmen stellte mehrere Rekorde auf, insbesondere in Australien, wo sowohl im November als auch im Dezember 2024 Rekordumsätze an den Kinokassen erzielt wurden, die die Werte vor der Pandemie von 2019 übertrafen.
Der Erfolg wurde durch große Hollywood-Blockbuster wie Wicked, Moana 2, Gladiator II, Mufasa: Der König der Löwen und Sonic the Hedgehog 3 getragen. Auch die Kinos der Marke Angelika, die auf preisgekrönte Filme spezialisiert sind, hatten gute Ergebnisse. In Neuseeland und den Vereinigten Staaten erreichten die Betriebe sowohl im November als auch im Dezember 2024 die höchsten Kassenzahlen seit der Pandemie.
In Australien führte RDI ein neues Treueprogramm Reading Rewards ein, das das Sammeln und Einlösen von Punkten für Tickets und Snacks ermöglicht. Eine Premium-Mitgliedschaft der Stufe Boost ist für AUS$20 pro Jahr verfügbar, die 15 % Rabatt auf Tickets, 10 % Rabatt auf Speisen und Getränke, doppelte Punkte und exklusive Angebote bietet.
- Record-breaking box office revenue in Australia for both November and December 2024
- Highest post-pandemic box office results in New Zealand and US operations
- Launch of new loyalty program in Australia with premium tier offering significant discounts
- Closure of eight unprofitable theaters (52 screens) in US since January 2019
Insights
Reading International's record-breaking holiday performance marks a significant operational milestone, particularly in the Australian market where both November and December 2024 set all-time box office records, surpassing even pre-pandemic levels from 2019. This achievement is especially noteworthy given the broader cinema industry's recovery challenges.
The company's strategic optimization efforts are showing positive results. The closure of 8 underperforming theaters (52 screens) in the US since 2019 demonstrates disciplined capital allocation and operational efficiency. This rationalization, combined with strong box office performance, suggests improved per-screen economics and operating margins.
The newly launched Reading Rewards loyalty program in Australia represents a strategic move to enhance customer lifetime value. The AUD$20 annual Boost tier membership with its 15% ticket and 10% F&B discounts could drive increased visit frequency and F&B attachment rates. Similar loyalty programs in the industry typically see 20-30% higher spending from members versus non-members.
Reading's diversified portfolio approach - operating mainstream cinemas (Reading Cinemas), specialty venues (Angelika) and real estate assets - provides multiple revenue streams and market positioning advantages. The strong performance of specialty theaters showing award-winning films indicates successful market segmentation and ability to capture premium audience segments.
While the holiday results are encouraging, investors should monitor several key factors: 1) Sustainability of box office momentum beyond tentpole releases 2) Loyalty program adoption rates and impact on margins 3) Real estate portfolio performance as a hedge against cinema industry volatility.
NEW YORK, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Reading International, Inc. (NASDAQ: RDI) (“Reading” or our “Company”), an internationally diversified cinema and real estate company with operations and assets in the United States, Australia, and New Zealand, today announced that its global cinema operations achieved several box office records over the November and December 2024 holiday period driven by the release of a variety of Hollywood blockbusters, including Wicked, Moana 2, Gladiator II, Mufasa: The Lion King and Sonic the Hedgehog 3. Our Company’s specialty theaters, trading under the Angelika brand, likewise enjoyed a strong box office from award winning movies like The Brutalist, Anora, The Room Next Door, Queer and A Real Pain.
Our Company’s Australian circuit, trading under the Reading Cinemas (www.ReadingCinemas.com.au) and Angelika (www.AngelikaCinemas.com.au) brands set Box Office Revenue records for both November and December:
- December 2024 was the highest December Box Office result ever, eclipsing the previous record set in December 2019.
- November 2024 was the highest November Box Office result ever.
Reading Cinemas in New Zealand (www.ReadingCinemas.co.nz) captured the following Box Office milestones:
- December 2024 was the highest December Box Office since the pandemic.
- November 2024 was the highest November Box Office since the pandemic.
In the United States, despite our closing of several unprofitable cinemas (eight theaters comprising 52 screens) since January 2019, the Box Office of our Company’s Reading Cinema (www.ReadingCinemas.com), Consolidated Theatre (www.ConsolidatedTheatres.com) and Angelika (www.AngelikaFilmCenter.com) brands achieved the following revenue milestones:
- December 2024 was the highest December Box Office since the pandemic.
- November 2024 was the highest November Box Office since the pandemic.
In Australia, our Company has launched a new Loyalty Program, Reading Rewards, which provides customers the opportunity to earn and redeem points for a range of Ticket and Food & Beverage items. In addition, for AUS
More information on Reading Rewards can be found at www.readingrewards.com.au.
About Reading International, Inc.
Reading International, Inc. (NASDAQ: RDI), an internationally diversified cinema and real estate company operating through various domestic and international subsidiaries, is a leading entertainment and real estate company, engaging in the development, ownership, and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand.
Reading’s cinema subsidiaries operate under multiple cinema brands: Reading Cinemas, Consolidated Theatres and the Angelika brand. Its live theatres are owned and operated by its Liberty Theaters subsidiary, under the Orpheum and Minetta Lane names. Its signature property developments, including Newmarket Village in Brisbane, Australia, and 44 Union Square in New York City, are maintained in special purpose entities.
Additional information about Reading can be obtained from our Company's website: www.readingrdi.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains a variety of forward-looking statements as defined by the Securities Litigation Reform Act of 1995, including those related to (i) our expectations about the box office and revenues of our global cinema divisions and (ii) our loyalty program in Australia. You can recognize these statements by our use of words, such as “may,” “will,” “expect,” “believe,” “intend” and “anticipate” or other similar terminology.
Given the variety and unpredictability of the factors that will ultimately influence our businesses and our results of operation, no guarantees can be given that any of our forward-looking statements will ultimately prove to be correct. Actual results may differ materially from those indicated in the forward-looking statements and there is no guarantee as to how our securities will perform either when considered in isolation or when compared to other securities or investment opportunities.
Forward-looking statements made by us in this release are based only on information currently available to us and speak only as of the date on which they are made. We undertake no obligation to publicly update or to revise any of our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law. Accordingly, you should always note the date to which our forward-looking statements speak.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, those factors discussed throughout Part I, Item 1A – Risk Factors – and Part II Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations – of our Annual Report on Form 10-K for the most recently ended fiscal year, as well as the risk factors set forth in any other filings made under the Securities Act of 1934, as amended, including any of our Quarterly Reports on Form 10-Q, for more information.
For more information, contact:
Gilbert Avanes – EVP, CFO, and Treasurer
Andrzej Matyczynski – EVP Global Operations
(213) 235-2240
FAQ
What box office records did Reading International (RDI) break in Australia during 2024?
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