Market Insight

Overall good financial performance among the companies tracked in Cinema Operators, however large differences in admissions compared to 2018 Q3

September 04, 2019

Pablo Carrera Pablo Carrera Principal Research Analyst, Cinema
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The performance metrics have now been uploaded to the Cinema Operators Strategic Intelligence, in both the pivot and the summary databases.

Unlinked previous quarters, Vue International has not issued detailed metrics this past quarter due to their reportedly pitching the company for sale, so only admissions have been included in the Intelligence Service.

The other seven companies (Cinemark, Cineplex Entertainment, Inox, Major Cineplex, Marcus Theatres, PVR and AMC) have had a good performance overall this second quarter of 2019, each of them increasing their Total Revenues in comparison to the same quarter last year.

Admissions figures however offer a different view. At one end, Vue has sold almost 22% more tickets this quarter than in 2018 Q2, partly due to the acquisition of the 13 screens of Showtime Cinemas (Ireland) in June 2018 and more recently the 65 screens of Cinema3D (Poland) at the end of May. Ranking second in the group, Inox has achieved over 10% growth in admissions albeit organically. Wanda, Cinemark and PVR all experienced lower growth rates, whilst Cineplex (Canada) and Major Cineplex experienced a drop, which reached 8.5% in the case of the latter.

When analysing the market by regions where these companies operate, similar differences come to view. On the one hand, the number of admissions from Latin America and EMEA grew by 18-20% when compared to the same quarter last year due to the popularity of the films released in that quarter, notably Avengers: Endgame, which set an all-time box office record in Latin American markets. On the other hand, APAC's admissions grew a mere 2.4%, although it refers mostly to India, since Inox and PVR are within the group, together with Major Cineplex which suffered a drop in admissions in South East Asia. North America's tickets were only 1% up, given that AMC's increase thanks to its new pricing policy was offset by Cinemark and Cineplex drops in the region, due to wider appeal of films in the same quarter of 2018.

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