Cineplex posts record second-quarter revenue thanks to AvengersEndgame
Canadian exhibition giant Cineplex, led by CEO Ellis Jacob, saw second-quarter earnings dip despite record quarterly revenues due to impressive box office fromCineplex posted second-quarter earnings of $19.4 million on Thursday, against a year-earlier profit of $24.4 million. Overall revenue rose 7.4 percent to a record $438.2 million. The biggest Hollywood performers for Cineplex during the latest quarter were led by the blockbusterAladdinBox office per patron hit a record $11.
"Disney has been a greater partner for exhibition and we've worked together to deliver huge numbers for the industry and at the end of the day, yes, they will continue to deliver theatrical experiences and they will make content specifically for their streaming services, which will be different," Jacob argued.Cineplex in recent years has diversified into media, amusement and leisure businesses to reduce its reliance on the fluctuating Hollywood box office.
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