Cinemark

Exhibition ruled the stock market today after a long holiday weekend saw Paramount’s A Quiet Place Part II crush it, earning $57 million over four days. That’s not far from the $60 million that the John Krasinski-directed sequel was anticipated to do in its 3-day opening pre-pandemic, according to my colleague Anthony D’Alessandro. Shares of Paramount
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Cinemark, the nation’s third largest movie chain, said revenues for the first quarter ended in March fell to $114 million from $543 million the year before. Admissions revenues stood at $56 million and concession revenues $39 million. Attendance was 7.7 million, average ticket price was $7.25 and concession revenue per patron was $5.10. Shares were
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Big movie chain Cinemark announced Friday it’s now reached agreements to theatrically showcase films from all five major studio partners across its U.S. theaters, although it didn’t provide terms or many details. On a conference call with analysts to discuss the exhibitor’s just released first-quarter financials, CEO Mark Zoradi called each of the five deals
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Financially hurting cinema advertising network National CineMedia has inked a deal to run ads with Coinstar, a big operator of supermarket coin-counting kiosks. With the exhibition business on the Covid-19 skids, the agreement helps expand National CineMedia’s digital-out-of-home footprint by extending its movie-centric entertainment content, trivia, and advertising beyond movie theaters to complementary venues. It
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Can cinemas play day-and-date releases from Warner Bros after continually refusing to show Netflix films? The big circuits have to be feeling really stupid now: If they had only made a deal with Netflix last year on Martin Scorsese’s The Irishman at a 45-day window instead of emphatically rejecting one, perhaps this looming apocalypse brought on
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Movie theater stocks were mixed Friday as the industry absorbed shock waves from Warner Bros.’ window-smashing announcement the day before when the cinema group collectively plunged by double digits. The smaller, publicly-traded U.S. chains have lower debt and are in better financial shape. Third- and fourth-ranked circuits Cinemark and Marcus both rose by more than
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EXCLUSIVE: A year ago at this time, a stink was raised by the studios and NATO over Netflix and its audacity to actually crunch the theatrical window with The Irishman. And a deal was on the table with AMC, but in the end, the streamer wanted a more limited time in theaters — far less than
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Universal has just inked another multi-year shortened theatrical window/Premium VOD share deal, this time with Canada’s biggest exhibitor Cineplex. The deal comes on the heels of Uni’s recent pact with No. 3 U.S. chain Cinemark. To date, Cineplex becomes the third exhibitor to agree to Uni’s truncated theatrical window terms since AMC first signed on
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New York City will shutter nonessential businesses again in new COVID clusters in Brooklyn and Queens and restrict restaurants to takeout only as well as shutting schools and clamping down on religious services and mass gatherings, Governor Andrew Cuomo said Tuesday. The measures, under a newly unveiled ‘Cluster Action Plan,’ are stricter than what Cuomo
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With New Jersey and some markets in California reopening in the lead-up to Warner Bros.’ Tenet launch this week, the third-biggest circuit stateside Cinemark is making sure they’re at the ready. By this Friday, Cinemark will have their Napa and Redding locations open in California, two locations in Oregon — Medford and Springfield — and half a
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A federal judge Tuesday upheld New Jersey Governor Philip Murphy’s closure of movie theaters in the state, dismissing a motion for an injunction by the National Association of Theatre Owners and five cinema chains that would have allowed them to open their doors. Judge Brian Martinotti ruled that the state is not infringing on the
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Cinemark CEO Mark Zoradi weighed in this morning on all the noise that Universal and AMC stirred up last week with their plan to crunch the theatrical window to 17 days. “Consistent with our past practices, Cinemark does not comment on the actions of our competitors. That said we believe an exclusive theatrical window is critically
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Imax shares shot higher Wednesday as Goldman Sachs initiated coverage of the large-format leader with a “buy” rating, saying it’s well positioned to take share in the current environment and has ample cash to navigate a potentially turbulent recovery. The stock was up more than 16% on a day of solid gains for exhibition that
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Stock plunged with showbiz knocked hard as COVID-19 infections surged, three governors issued travel restrictions and investor hopes for a recovery fizzled. The DJIA plunged more than 700 points, or 2.7%, its worst showing in weeks. The S&P 500 and Nasdaq were both down sharply. Media and entertainment stocks, sensitive to advertising, film and TV
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EXCLUSIVE: Steven Spielberg’s 1993 movie Jurassic Park was No. 1 for the fourth time in its release history this past weekend as movie theaters tried to have a semblance during the COVID-19 pandemic over what is typically a big moviegoing weekend, Father’s Day. While 2020 fare like Universal/Dreamworks Animation’s Trolls World Tour had been leading at a
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