By Jill Goldsmith The nation’s biggest cinema advertising network National CineMedia saw losses widen and sales dip as theater chains were shuttered for a chunk of the first quarter by the COVID-19 pandemic.
Revenue fell 16% to $65 million and net losses widened to $3.7 million, or 5 cents per diluted share from $1.1 million, or 1 cent, the year before.
It’s the latest sad tale in the exhibition business to emerge this earnings season. Marcus, the country’s fourth-biggest chain, said earlier today it swung sharply into the red for the first quarter.
At the biggest theater group, AMC Entertainment, business was so disrupted that it couldn’t even file quarterly results but is postponing them until the summer. “While 2020 was off to a strong
Read more on deadline.com
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