Cineplex revenues have increased by more than 25% year-over-year, hitting $1.4 billion in 2024, according to its year-end financial report.

Revenues for Q4 totaled $315.1 million, up from $309.9 million reported for the last three months of 2022. The growth was attributed to a 30.1% increase in annual box office revenues.

According to the company, theatre attendance increased to 9.6 million overall, compared to 9.2 million in 2022, as a result of box office hits such as Barbie, The Super Mario Bros. Movie and Oppenheimer.

The increase in attendance was also driven by the opening of new movie theatres across the country, including a second Cineplex Junxion location (which brings together movies, gaming entertainment, dining and live performances) in Mississauga and two ScreenX auditoriums in Montreal and Quebec. The company also plans to boost box office revenues this year with a Playdium location at the Cadillac Fairview shopping centre in Toronto, which is set to open in Q4.

According to Cineplex, 2023 marked the most important year for international programming, generating 10% of Cineplex’s annual box office revenue. Strong performing international films included Hindi films Animal and Pathaan.

Cineplex reported annual revenues of $132.4 million for location-based entertainment, a year-over-year increase of 19.4%.

“Reflecting on this past year, the strength of our results can be attributed to our diversification strategy, our team’s skilled and tenured operating discipline, and our ability to understand our guests’ behaviours through leading data management and analytics,” said Cineplex president and CEO Ellis Jacob in a statement.

Along with its financial report, Cineplex also announced a refinancing plan to extend repaying its debt from September 2025 to March 2030, which the company says will improve its financial flexibility and and strengthen its balance sheet.

This story originally appeared in Media in Canada