Exhibition On A Roll As Marcus Theatres, Cinemark Showcase Record Quarters
deadline.comCinemark, the nation’s third largest theater chain, and smaller Marcus Theatres piled on strong financial results today after sunny numbers from Imax on Wednesday, all bright notes amid ongoing box office uncertainty.
Marcus shares popped, up more than 10% on the numbers. The Milwaukee-based chain “achieved growth with a markedly improved film slate that played particularly well with audiences in our markets.
As we look ahead to the remainder of the year and into 2025, we are encouraged by trends within both businesses, including an impressive array of high-quality films headed for the big screen this holiday season,” said chairman-CEO Greg Marcus.
Cinemark chief executive Sean Gamble said “strong, sustained consumer enthusiasm for shared, larger-than-life, theatrical experiences was once again on full display in the third quarter as film results far outpaced expectations, delivering the highest quarterly box office since the pandemic, which climbed to within 4% of 3Q19″ for the three months ended in September. “Propelled by one break-out hit after the next as a steadier cadence of compelling titles were released into theaters, the third quarter’s results clearly underscore that movie-going begets movie-going and further illustrate the heightened level of impact a theatrical release provides all categories of content,” he said, commending studio partners.
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