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Movie Theater Advertiser National CineMedia Q2 Sales Sink 96% — A Preview Of Exhibition Woe

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deadline.com
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Jill Goldsmith Co-Business EditorNational CineMedia isn’t a movie chain but it’s the nation’s largest cinema advertising network and it saw revenue plunge by more than 96% last quarter as theaters were shuttered for the entire period, a steep dip that’s likely to be repeated as exhibitors report earnings starting tomorrow with Cinemark and Marcus.AMC Entertainment reports Thursday.

Earlier today, ratings agency S&P downgraded the nation’s largest exhbitor after it concluded a restructuring that involved a distressed debt exchange but could will keep it going to the spring even in the worst case scenario.National CineMedia swung to a net loss of $13.8 million, or $0.18 a share, compared to net income of $8.9 million, or $0.11, the year.

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