The numbers were up across the board at Cineplex last year. The company has 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.
Plus, more 3D at Empire
For its part, Empire Theatres announced plans to increase its 3D screen count, and said it planned to have the technology installed in time for Disney’s Feb. 27 release of Jonas Brothers: The 3D Concert Experience. The Halifax-based exhibitor said it would grow its 3D screens from 18 to 22, with the additional upgrades being done at locations in Nova Scotia, including Sydney, Halifax and Dartmouth.
The anticipated Jonas Brothers follows last year’s Hannah Montana/Miley Cyrus: Best of Both Worlds Concert Tour, which generated $65 million for Disney at the North American box office. (Cineplex also recently announced it would boost its 3D capabilities ahead of the release.) Empire owns 52 theaters, with 386 screens across Canada.