Cineplex boosted by action, expansion

The numbers were up across the board at Cineplex last year, which on Thursday reported record-setting numbers on the strength of adult-skewing action films and expansion beyond movies.

The country’s largest exhibitor ‘experienced its best year ever in 2008,’ said president and CEO Ellis Jacob in the fourth quarter and year-end report. ‘We achieved new all-time records in key metrics including attendance, box office, concession, other revenue and total revenue.’

The Cineplex Galaxy Income Fund saw revenues rise 5.5% to $849.7 million, pushing adjusted earnings up 5.7% to $144.9 million. Distributable cash per unit at the fund rose to $1.85, up from $1.72, for the year ending Dec. 31, 2008.

Attendance rose to 63.5 million, up from 61.1 million.

Jacob credited the rise in part to diversification at the chain — pointing to its screenings of live opera, ballet and theater — and to its revamped website, which recently rolled out a social networking feature.

The top-earning titles for the year were dominated by super-heroes, with The Dark Knight contributing almost 5% of the year’s total box office. It was followed by Iron Man, Indiana Jones and the Kingdom of the Crystal Skull, Quantum of Solace and Hancock.

In contrast to 2007, which was led by younger-aimed titles such as the most recent Shrek and Harry Potter installments, the older audiences that came through Cineplex’s doors in ’08 led to slightly more revenue per head. Cineplex brought in $8.05 per moviegoer last year, up from $7.99.

A hike in ticket prices in November and a rise in spending at concession stands also contributed to this rise.

The company’s fourth quarter numbers were also up, revenue by some 16%, though Jacob noted that this was in part due to the lack of strong titles at the end of ’07, making the comparison somewhat slanted.

Cineplex noted, however, that Q4 2008 was boosted by the ‘strong performance’ of Quantum of Solace and Twilight.