Cineplex posts record-setting revenue in Q2

The exhibitor reported overall revenue hit $345.5 million for the three months ending June 30, marking a new all-time record.
Photo: atomicjeep, Flickr Creative Commons

Cineplex reported a record-setting second quarter on Thursday, with overall revenues hitting $345.5 million for the three months ending June 30.

Overall revenue in the second quarter was 6.8% higher than the same quarter a year earlier. The report noted all the company’s revenue sources saw an increase in the second quarter, including the box office.

Cineplex box office revenues hit $186.2 million in the second quarter, representing a $4.8 million (or 2.6%) year over year. The strong box office revenue was primarily driven by the success of blockbusters The Avengers: Age of Ultron, Jurassic World and Furious 7. These three films represented 43.5% of the company’s box office revenue this year, the report said. The company also posted a record for all-time box office revenues per person in Q2 2015 at $9.45, up from $9.40 for the same quarter a year prior.

In addition to higher box office revenues, Cineplex saw a 13% increase in media revenue to $35 million and a 10% rise in food service revenue to $108.4 million.

The increase in media revenue was attributed to strong pre-show advertising sales, particularly in the automotive and the telecommunications categories. Cineplex Digital Media also saw revenues increase by 0.7%, which was attributed to higher advertising revenues from its TimTV and Oxford shopping mall networks.

The food service revenue growth was primarily driven by a 2% increase in attendance during the latest quarter, as well as a 5.7% increase in concession revenues per person, which also marked a record for the company.