Cineplex has reported $362.7 million in revenues for 2024, which represents a 15.1% increase over the prior year.

It also achieved $40.3 million in adjusted EBITDA, an increase of 66.6% relative to the prior year, and reported a net income of $3.3 million, which is an increase of $12.3 million relative to the net loss of $9.0 million it reported the previous year. 

“2024 was a year of significant progress for our business, a year which was focused on returning long term value to shareholders,” said Ellis Jacob, president and CEO of Cineplex.

A large part of Cineplex’s progress was due to growth in its media business. Media revenues grew by 25.7% over the previous year. It reported annual media revenues of $134 million, an increase of $16.2 million.

“Our Cineplex Digital Media network expanded in 2024 with the additions of Cadillac Fairview and Cominar, resulting in impressive year-over-year revenue growth,” Jacob added. “With incredible coast-to-coast penetration of Canada’s shopping malls, our recent membership with the Canadian Out-Of-Home Marketing and Measurement Bureau (“COMMB”), and the highly attentive and engaged audience in our theatres, our media segment is positioned for growth through our multitude of attractive media assets to clients.”

But it wasn’t entirely good news. The company reported annual box office revenues of $562.2 million, a decrease of $37.8 million or 6.3% from $599.9 million. According to the company, this dip was due to a 10.3% decrease in theatre attendance as a result of the disruption of the 2024 release schedule from the writers’ and actors’ strikes in 2023.