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Movie theater giant Cinemark Holdings improved its bottom line in the second quarter and on Friday touted higher revenue and a continued industry recovery from the Covid-19 pandemic.
The company, led by president and CEO Sean Gamble who succeeded Mark Zoradi on Jan. 1, posted a quarterly loss of 73.4 million. That compared with a loss of 142.4 million in the same period of 2021. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), another profitability metric, swung to 138.3 million for the three months, compared with a year-ago loss of 11.8 million.
Second-quarter revenue jumped 153 percent to 744.1 million amid higher attendance and concession spending compared with the year-ago period. After all, due to the Covid pandemic, “for a portion of the three months ended June 30, 2021, some of the company’s theatres were closed and there was limited new film content available for the theatres that had reopened,” the firm noted.
Movie theater giant Cinemark Holdings improved its bottom line in the second quarter and on Friday touted higher revenue and a continued industry recovery from the Covid-19 pandemic.
The company, led by president and CEO Sean Gamble who succeeded Mark Zoradi on Jan. 1, posted a quarterly loss of 73.4 million. That compared with a loss of 142.4 million in the same period of 2021. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), another profitability metric, swung to 138.3 million for the three months, compared with a year-ago loss of 11.8 million.
Second-quarter revenue jumped 153 percent to 744.1 million amid higher attendance and concession spending compared with the year-ago period. After all, due to the Covid pandemic, “for a portion of the three months ended June 30, 2021, some of the company’s theatres were closed and there was limited new film content available for the theatres that had reopened,” the firm noted.
- 8/5/2022
- by Georg Szalai and Caitlin Huston
- The Hollywood Reporter - Movie News
Cinemark CEO Sean Gamble, like many in the exhibition trenches, is optimistic about the crop of movies headed to theaters in 2022, starting with The Batman next week.
During the company’s fourth-quarter earnings call with Wall Street analysts, he also suggested that a more diverse mix of titles will return to theaters as Covid continues to ease. That means more specialty and mid-budget fare, elements that have been lagging, in part because many older moviegoers have continued to steer clear of theaters for safety reasons.
“Even prior to the pandemic, we were beginning to see a little bit higher concentration of blockbuster films,” Gamble said when asked about the impact of that homogenization on Cinemark’s business. “Some of that was just the higher levels of risk that were starting to take place with regard to some of the smaller and mid-tier films. Interestingly, as you look at the environment...
During the company’s fourth-quarter earnings call with Wall Street analysts, he also suggested that a more diverse mix of titles will return to theaters as Covid continues to ease. That means more specialty and mid-budget fare, elements that have been lagging, in part because many older moviegoers have continued to steer clear of theaters for safety reasons.
“Even prior to the pandemic, we were beginning to see a little bit higher concentration of blockbuster films,” Gamble said when asked about the impact of that homogenization on Cinemark’s business. “Some of that was just the higher levels of risk that were starting to take place with regard to some of the smaller and mid-tier films. Interestingly, as you look at the environment...
- 2/25/2022
- by Dade Hayes
- Deadline Film + TV
Cinemark shareholders are waking up to a nice Friday morning surprise. While media analysts expected another loss for the final quarter of 2021, the movie-exhibitor chain was actually able to turn a (very) slight profit — its first since the Covid-19 pandemic began.
Wall Street forecast Cinemark would lose 13 cents per share on $601.29 million in revenue. The company actually reported diluted earnings of 5 cents per share on $666.7 million in revenue. That revenue number resulted in a $5.7 million overall profit.
For the three months ended Dec. 31, 2021, Cinemark’s admissions revenues were $344.9 million and concession revenues were $248.1 million, driven by attendance of 48.1 million patrons. The average ticket price was $7.17, and concession revenues per patron were $5.16.
While there were still some theater closures in the fourth quarter of 2021 and a limited theatrical slate, there were some good — or at least, attractive — movies. Q4’s marquee theatrical releases included “Spider-Man: No Way Home,” “Dune,” “Ghostbusters: Afterlife,...
Wall Street forecast Cinemark would lose 13 cents per share on $601.29 million in revenue. The company actually reported diluted earnings of 5 cents per share on $666.7 million in revenue. That revenue number resulted in a $5.7 million overall profit.
For the three months ended Dec. 31, 2021, Cinemark’s admissions revenues were $344.9 million and concession revenues were $248.1 million, driven by attendance of 48.1 million patrons. The average ticket price was $7.17, and concession revenues per patron were $5.16.
While there were still some theater closures in the fourth quarter of 2021 and a limited theatrical slate, there were some good — or at least, attractive — movies. Q4’s marquee theatrical releases included “Spider-Man: No Way Home,” “Dune,” “Ghostbusters: Afterlife,...
- 2/25/2022
- by Tony Maglio
- The Wrap
Before the pandemic, the nation’s largest theater chains were resolute in their refusal to show Netflix films, given the streamer’s demand for drastically shortened windows. But now that Disney, Universal, and other major studios have shattered the 90-day window, Cinemark is willing to show Netflix and other streamers’ movies — but only if they invest in marketing and give the circuit a bigger cut of the film’s earnings.
That’s the word from Mark Zoradi, who retired as Cinemark’s CEO at the end of last year after seven years on the job. Zoradi, who remains on the company’s board, detailed Cinemark’s interest in streamers’ films in an interview with Boxoffice Pro published Thursday.
“The key thing with the streamers is that not only does it have some form of an exclusive window — whether that’s 17 days or 24 days or 31 days — but also that the streamer...
That’s the word from Mark Zoradi, who retired as Cinemark’s CEO at the end of last year after seven years on the job. Zoradi, who remains on the company’s board, detailed Cinemark’s interest in streamers’ films in an interview with Boxoffice Pro published Thursday.
“The key thing with the streamers is that not only does it have some form of an exclusive window — whether that’s 17 days or 24 days or 31 days — but also that the streamer...
- 1/6/2022
- by Chris Lindahl
- Indiewire
Cinemark Courts Gamers, Wrestling Fans; Sees Sales Surge, Market Share Rise Amid Box Office Recovery
Cinemark, the nation’s third-largest movie chain, grew revenue and slashed losses last quarter, the first one since Covid with 100% of its theaters open. Talking with Wall Streeters on his last conference call as CEO, Mark Zoradi described a push into gaming as well as wrestling and live sports and events as it leans into the ongoing box office recovery.
The chain held a recent sold out 25-city test with Critical Role and Dungeons and Dragons to “outstanding results” and is testing with League of Legends, Zoradi said. It’s looking at game competitions, game awards, and private gaming parties. Asked about football, Zoradi said the NFL hasn’t “been highly successful” yet since home-city games aren’t available for showings — only out of market. But college sports may be an opportunity “to show big local teams and big local games.”
Cinemark...
The chain held a recent sold out 25-city test with Critical Role and Dungeons and Dragons to “outstanding results” and is testing with League of Legends, Zoradi said. It’s looking at game competitions, game awards, and private gaming parties. Asked about football, Zoradi said the NFL hasn’t “been highly successful” yet since home-city games aren’t available for showings — only out of market. But college sports may be an opportunity “to show big local teams and big local games.”
Cinemark...
- 11/5/2021
- by Jill Goldsmith
- Deadline Film + TV
Cinema giant Cinemark Holdings reported a narrowed loss for the third quarter compared with the year-ago period, which had been hit hard by shutdowns due to the coronavirus pandemic, and touted positive box office trends.
The company, led by CEO Mark Zoradi, posted a quarterly loss of $77.8 million Friday, which compared with a loss of $147.6 million in the same period of 2020. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the latest three months swung to $44.3 million, compared with a year-ago loss of $128.0 million. Revenue jumped to $434.8 million from $35.5 ...
The company, led by CEO Mark Zoradi, posted a quarterly loss of $77.8 million Friday, which compared with a loss of $147.6 million in the same period of 2020. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the latest three months swung to $44.3 million, compared with a year-ago loss of $128.0 million. Revenue jumped to $434.8 million from $35.5 ...
- 11/5/2021
- The Hollywood Reporter - Film + TV
Cinema giant Cinemark Holdings reported a narrowed loss for the third quarter compared with the year-ago period, which had been hit hard by shutdowns due to the coronavirus pandemic, and touted positive box office trends.
The company, led by CEO Mark Zoradi, posted a quarterly loss of $77.8 million Friday, which compared with a loss of $147.6 million in the same period of 2020. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the latest three months swung to $44.3 million, compared with a year-ago loss of $128.0 million. Revenue jumped to $434.8 million from $35.5 ...
The company, led by CEO Mark Zoradi, posted a quarterly loss of $77.8 million Friday, which compared with a loss of $147.6 million in the same period of 2020. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the latest three months swung to $44.3 million, compared with a year-ago loss of $128.0 million. Revenue jumped to $434.8 million from $35.5 ...
- 11/5/2021
- The Hollywood Reporter - Movie News
Who says people don’t want to go to the movies and are complete lemmings for streaming?
Comscore this morning reports that the October domestic box office clocked $638M, the highest month to date during the pandemic beating July’s $583.8M.
Seventy-five percent of October’s figure was driven by major studio event pics Sony’s Venom: Let There Be Carnage, MGM/United Artists Releasing’s No Time to Die, Universal/Blumhouse/Miramax’s Halloween Kills and Warner Bros./Legendary’s Dune. True, the latter two titles were made available in homes day-and-date which siphoned theatrical ticket sales, but there’s much to celebrate here as both movie studios and exhibition look forward to getting back on track.
This October, while down from 2019’s $789.5M and 2018’s $832M, was 12% ahead of 2017’s $569.8M according to Comscore.
Venom: Let There Be Carnage, which was released on a pure theatrical window, saw...
Comscore this morning reports that the October domestic box office clocked $638M, the highest month to date during the pandemic beating July’s $583.8M.
Seventy-five percent of October’s figure was driven by major studio event pics Sony’s Venom: Let There Be Carnage, MGM/United Artists Releasing’s No Time to Die, Universal/Blumhouse/Miramax’s Halloween Kills and Warner Bros./Legendary’s Dune. True, the latter two titles were made available in homes day-and-date which siphoned theatrical ticket sales, but there’s much to celebrate here as both movie studios and exhibition look forward to getting back on track.
This October, while down from 2019’s $789.5M and 2018’s $832M, was 12% ahead of 2017’s $569.8M according to Comscore.
Venom: Let There Be Carnage, which was released on a pure theatrical window, saw...
- 10/31/2021
- by Anthony D'Alessandro
- Deadline Film + TV
Big theater chain Cinemark has named Melissa Hayes Thomas, chief financial officer of Groupon, as its new CFO and executive VP effective Nov. 8.
Current CFO Sean Gamble will step back from that role but continue as president and chief operating officer, the company said Wednesday. He’ll become chief executive on Jan. 1, after current CEO Mark Zoradi retires at the end of this year.
Thomas has been at Groupon in several top positions since 2017. She previously was VP Finance at Surgical Care Affiliates and has served in a variety of finance and accounting roles at Orbitz Worldwide, Equity Office Properties and PricewaterhouseCoopers.
Thomas signed a three-year contract, automatically extended for an additional one‑year period.
Gamble helped lead Cinemark through a Covid downturn that saw theaters closed for a long stretch and at a time when the CFO role has never been more crucial. The industry is is considered increasingly...
Current CFO Sean Gamble will step back from that role but continue as president and chief operating officer, the company said Wednesday. He’ll become chief executive on Jan. 1, after current CEO Mark Zoradi retires at the end of this year.
Thomas has been at Groupon in several top positions since 2017. She previously was VP Finance at Surgical Care Affiliates and has served in a variety of finance and accounting roles at Orbitz Worldwide, Equity Office Properties and PricewaterhouseCoopers.
Thomas signed a three-year contract, automatically extended for an additional one‑year period.
Gamble helped lead Cinemark through a Covid downturn that saw theaters closed for a long stretch and at a time when the CFO role has never been more crucial. The industry is is considered increasingly...
- 10/13/2021
- by Jill Goldsmith
- Deadline Film + TV
When the studio gets rich on a box office hit, exhibition shares in that and there was certainly a downpour of cash for the latter thanks to the $90M pandemic domestic opening record of Sony’s Venom: Let There Be Carnage, and also the $119M launch of MGM/Uar/Universal’s No Time to Die.
The No. 1 circuit in the world, AMC Entertainment, announced this morning that they posted a new post-reopening record for weekend attendance as well as new post-opening records for ticket admission revenues and concessions thanks to both films.
Between Thursday Sept. 30 and Sunday Oct. 3, 2.4 million-plus people watched movies at U.S. AMC multiplexes while 1.4M took in movies at AMC overseas for a total of 3.9M WW, a new post-reopening attendance record for the circuit.
As we told you yesterday, No. 3 chain Cinemark saw its highest opening weekend as well during the Covid era, and its...
The No. 1 circuit in the world, AMC Entertainment, announced this morning that they posted a new post-reopening record for weekend attendance as well as new post-opening records for ticket admission revenues and concessions thanks to both films.
Between Thursday Sept. 30 and Sunday Oct. 3, 2.4 million-plus people watched movies at U.S. AMC multiplexes while 1.4M took in movies at AMC overseas for a total of 3.9M WW, a new post-reopening attendance record for the circuit.
As we told you yesterday, No. 3 chain Cinemark saw its highest opening weekend as well during the Covid era, and its...
- 10/4/2021
- by Anthony D'Alessandro
- Deadline Film + TV
Sunday Am Final w/chart: Sony, which has been overly cautious and conservative in its projections for Venom: Let There Be Carnage, always had a hit on their hands. The Marvel sequel easily scored the best domestic opening at the box office with $90.1M, exceeding the previous pandemic U.S./Canada debut of Black Widow, which was $80.8M.
Not only that, but the Sony/Marvel movie exceeded the original 2018 title’s opening of $80.2M by 12%, amazing for a sequel to best its first chapter’s grosses during a pandemic.
Even though Sony has sent movies straight to streamers to financially survive during the pandemic, when it comes to whatever titles they’re releasing in theaters, they’re bullish about the theatrical window. Venom 2 is a win for them and the industry in regards to that business philosophy. Black Widow went day-and-date in cinemas on the Disney+ Premier PVOD tier.
Not only that, but the Sony/Marvel movie exceeded the original 2018 title’s opening of $80.2M by 12%, amazing for a sequel to best its first chapter’s grosses during a pandemic.
Even though Sony has sent movies straight to streamers to financially survive during the pandemic, when it comes to whatever titles they’re releasing in theaters, they’re bullish about the theatrical window. Venom 2 is a win for them and the industry in regards to that business philosophy. Black Widow went day-and-date in cinemas on the Disney+ Premier PVOD tier.
- 10/3/2021
- by Anthony D'Alessandro
- Deadline Film + TV
Anyone who skipped CinemaCon this year out of fear of the pandemic in Las Vegas missed a spitfire of a luncheon chat Thursday afternoon. Not only was Patty Jenkins smashing the theatrical day-and-date model, and wagging a finger at exhibition over the decline in the moviegoing experience, but also Paramount Domestic Distribution Boss Chris Aronson put Marcus Theatres CEO and president Rolando Rodriguez in check over exhibitors’ ticket pricing.
When, natch, asked about the hindsight of Wonder Woman 1984 going theatrical day-and-date on HBO Max, Jenkins exclaimed, “It was the best choice in a bunch of bad choices at the moment” and a “heartbreaking experience.” Back in December, Warner Bros sent its entire 2021 theatrical release slate day-and-date with HBO Max due to its outlook on the lingering pandemic. The first film to go day-and-date in theaters and on Warners’ streaming service was Wonder Woman 1984...
When, natch, asked about the hindsight of Wonder Woman 1984 going theatrical day-and-date on HBO Max, Jenkins exclaimed, “It was the best choice in a bunch of bad choices at the moment” and a “heartbreaking experience.” Back in December, Warner Bros sent its entire 2021 theatrical release slate day-and-date with HBO Max due to its outlook on the lingering pandemic. The first film to go day-and-date in theaters and on Warners’ streaming service was Wonder Woman 1984...
- 8/26/2021
- by Anthony D'Alessandro
- Deadline Film + TV
Cinemark posted narrower losses in the second quarter as CEO Mark Zoradi hailed the “phenomenon” of the movie business righting itself after the catastrophe of Covid-19.
The company exceeded Wall Street analysts’ revenue estimates in the quarter, which ended June 30, though losses were a bit wider than expected. Losses were $1.19 per share, compared with $1.45 in the year-ago period. Revenue of $294.7 million, up from just $9 million in the 2020 quarter, when theaters were shuttered in much of the world.
“I’m pleased to report that the second quarter recovery of our industry and business progressed at a faster rate than we expected,” Zoradi said in the company’s earnings release. “For Cinemark, the second quarter improved so materially that we were able to substantially reduce our net loss during the quarter and our domestic operations delivered positive adjusted Ebitda for the first time since our theaters were forced to temporarily shut down last year.
The company exceeded Wall Street analysts’ revenue estimates in the quarter, which ended June 30, though losses were a bit wider than expected. Losses were $1.19 per share, compared with $1.45 in the year-ago period. Revenue of $294.7 million, up from just $9 million in the 2020 quarter, when theaters were shuttered in much of the world.
“I’m pleased to report that the second quarter recovery of our industry and business progressed at a faster rate than we expected,” Zoradi said in the company’s earnings release. “For Cinemark, the second quarter improved so materially that we were able to substantially reduce our net loss during the quarter and our domestic operations delivered positive adjusted Ebitda for the first time since our theaters were forced to temporarily shut down last year.
- 8/6/2021
- by Dade Hayes
- Deadline Film + TV
Cinemark lost $142 million in the second quarter of 2021. While the movie-theater chain topped analysts’ revenue estimates, it lost 12 cents more per share than anticipated.
The company lost less money in this Q2 than the previous one as theaters slowly but surely began to reopen. Last year’s second quarter saw losses exceed $170 million. By the final day of the recently wrapped quarter, all 323 domestic Cinemarks were reopened. Of its 198 international theaters, 152 had reopened.
While the reopened theaters were showing primarily new movies, they were operating under reduced hours. Some of the top second quarter (April-June) releases included “Cruella,” “In the Heights,” “A Quiet Place Part II” and “F9: The Fast Saga.” “Godzilla vs. Kong” came out on the final day of Q1.
Wall Street forecast a Q2 loss per share of -$1.07 on $262.8 million in revenue, according to a consensus estimate of media analysts compiled by Yahoo Finance. Cinemark reported...
The company lost less money in this Q2 than the previous one as theaters slowly but surely began to reopen. Last year’s second quarter saw losses exceed $170 million. By the final day of the recently wrapped quarter, all 323 domestic Cinemarks were reopened. Of its 198 international theaters, 152 had reopened.
While the reopened theaters were showing primarily new movies, they were operating under reduced hours. Some of the top second quarter (April-June) releases included “Cruella,” “In the Heights,” “A Quiet Place Part II” and “F9: The Fast Saga.” “Godzilla vs. Kong” came out on the final day of Q1.
Wall Street forecast a Q2 loss per share of -$1.07 on $262.8 million in revenue, according to a consensus estimate of media analysts compiled by Yahoo Finance. Cinemark reported...
- 8/6/2021
- by Tony Maglio
- The Wrap
Zoradi had intended to retire last year before pandemic struck.
Cinemark CEO Mark Zoradi will step down at end of the year and will be succeeded by CFO and COO Sean Gamble on January 1, 2022.
Effective as of Wednesday (July 28), Gamble has been named president and will assume the role of CEO and president following Zoradi’s retirement.
Zoradi has served more than 40 years in the industry – the past six at the helm of the exhibitor – and intended to retire last year before the pandemic struck.
He will work with Gamble and the executive leadership team until he steps down, and...
Cinemark CEO Mark Zoradi will step down at end of the year and will be succeeded by CFO and COO Sean Gamble on January 1, 2022.
Effective as of Wednesday (July 28), Gamble has been named president and will assume the role of CEO and president following Zoradi’s retirement.
Zoradi has served more than 40 years in the industry – the past six at the helm of the exhibitor – and intended to retire last year before the pandemic struck.
He will work with Gamble and the executive leadership team until he steps down, and...
- 7/28/2021
- by Jeremy Kay
- ScreenDaily
Cinemark CEO Mark Zoradi will step down at end of the year and will be succeeded by CFO and COO Sean Gamble on January 1, 2022.
Effective as of Wednesday (July 28), Gamble has been named president and will assume the role of CEO and president following Zoradi’s retirement.
Zoradi has served more than 40 years in the industry – the past six at the helm of the exhibitor – and intended to retire last year before the pandemic struck.
He will work with Gamble and the executive leadership team until he steps down, and continues as a board director until the 2024 annual meeting when...
Effective as of Wednesday (July 28), Gamble has been named president and will assume the role of CEO and president following Zoradi’s retirement.
Zoradi has served more than 40 years in the industry – the past six at the helm of the exhibitor – and intended to retire last year before the pandemic struck.
He will work with Gamble and the executive leadership team until he steps down, and continues as a board director until the 2024 annual meeting when...
- 7/28/2021
- by Jeremy Kay
- ScreenDaily
Cinemark announced on Wednesday that CEO Mark Zoradi will be stepping down at the end of the year. He will be succeeded by the theater chain’s CFO, Sean Gamble.
In a statement, Cinemark said that Zoradi had initially intended to retire in 2020 but stayed on after the Covid-19 pandemic forced the chain to shut down its theaters. “Clearly, he had no idea how long it would last or the significant impacts it would have on our industry,” the company’s statement read. “As theatrical moviegoing is resurging, now felt like an appropriate time for this announcement.”
“Mark has consistently stated that participating in the exhibition side of the business and leading Cinemark over the course of the past six years has been invigorating and he treasures the time spent at Cinemark and the relationships forged. While retirement from the day-to-day is never an easy decision, Mark is ready to...
In a statement, Cinemark said that Zoradi had initially intended to retire in 2020 but stayed on after the Covid-19 pandemic forced the chain to shut down its theaters. “Clearly, he had no idea how long it would last or the significant impacts it would have on our industry,” the company’s statement read. “As theatrical moviegoing is resurging, now felt like an appropriate time for this announcement.”
“Mark has consistently stated that participating in the exhibition side of the business and leading Cinemark over the course of the past six years has been invigorating and he treasures the time spent at Cinemark and the relationships forged. While retirement from the day-to-day is never an easy decision, Mark is ready to...
- 7/28/2021
- by Jeremy Fuster
- The Wrap
Cinemark, the No. 3 U.S. exhibitor, said CEO Mark Zoradi will retire at the end of 2021, staying on the board and handing top-exec reins to CFO and COO Sean Gamble.
Zoradi, who had a lengthy run as a Disney distribution exec before crossing over to the theater side, will stay on the company’s board until 2024. At that point, he will become eligible for election in the manner of all members of the board, who are selected at the company’s annual shareholder meeting.
Gamble has been named president as of today, the company said, and Zoradi will work closely with him as well as other executives to ensure a smooth transition.
An EVP and CFO at Universal Pictures before joining Cinemark, Gamble also held several exec posts at General Electric earlier in his career. Working with Zoradi, he has helped solidify Cinemark’s financials and putting it in a...
Zoradi, who had a lengthy run as a Disney distribution exec before crossing over to the theater side, will stay on the company’s board until 2024. At that point, he will become eligible for election in the manner of all members of the board, who are selected at the company’s annual shareholder meeting.
Gamble has been named president as of today, the company said, and Zoradi will work closely with him as well as other executives to ensure a smooth transition.
An EVP and CFO at Universal Pictures before joining Cinemark, Gamble also held several exec posts at General Electric earlier in his career. Working with Zoradi, he has helped solidify Cinemark’s financials and putting it in a...
- 7/28/2021
- by Dade Hayes
- Deadline Film + TV
Cinemark CEO Mark Zoradi has announced plans to retire at the end of the year.
Sean Gamble, the movie theater chain’s current CFO and COO, has been named as Zoradi’s successor and will assume the CEO role effective Jan. 1, 2022. Starting Wednesday, Gamble has been upped to president and will work closely with Zoradi over the next five months to ensure a smooth transition.
Zoradi, who previously ran distribution at Disney before taking the top post at Cinemark in 2015, will remain on the company’s board of directors until 2024.
“Serving as Cinemark’s CEO during the past six years has truly been the highlight of my career,” Zoradi said in a statement. “While I’ve been in the industry for more than four decades, the vast majority was spent on the studio side of the business. I’ve thoroughly enjoyed participating in all aspects of theatrical exhibition and will...
Sean Gamble, the movie theater chain’s current CFO and COO, has been named as Zoradi’s successor and will assume the CEO role effective Jan. 1, 2022. Starting Wednesday, Gamble has been upped to president and will work closely with Zoradi over the next five months to ensure a smooth transition.
Zoradi, who previously ran distribution at Disney before taking the top post at Cinemark in 2015, will remain on the company’s board of directors until 2024.
“Serving as Cinemark’s CEO during the past six years has truly been the highlight of my career,” Zoradi said in a statement. “While I’ve been in the industry for more than four decades, the vast majority was spent on the studio side of the business. I’ve thoroughly enjoyed participating in all aspects of theatrical exhibition and will...
- 7/28/2021
- by Rebecca Rubin
- Variety Film + TV
Cinemark CEO Mark Zoradi is set to retire at the end of the year, with Sean Gamble, CFO and COO, named as Zoradi’s successor from Jan. 1, 2022.
A Hollywood veteran who previously ran distribution at Disney, Zoradi is widely admired and news of his retirement has rattled the major studios as key film suppliers to theater chains. He will remain on the company’s board of directors until 2024.
Until Zoradi’s departure, Gamble has been named president and will serve as CEO and president from the beginning of 2022. Cinemark said Zoradi will work closely with Gamble and the ...
A Hollywood veteran who previously ran distribution at Disney, Zoradi is widely admired and news of his retirement has rattled the major studios as key film suppliers to theater chains. He will remain on the company’s board of directors until 2024.
Until Zoradi’s departure, Gamble has been named president and will serve as CEO and president from the beginning of 2022. Cinemark said Zoradi will work closely with Gamble and the ...
- 7/28/2021
- The Hollywood Reporter - Film + TV
Cinemark CEO Mark Zoradi is set to retire at the end of the year, with Sean Gamble, CFO and COO, named as Zoradi’s successor from Jan. 1, 2022.
A Hollywood veteran who previously ran distribution at Disney, Zoradi is widely admired and news of his retirement has rattled the major studios as key film suppliers to theater chains. He will remain on the company’s board of directors until 2024.
Until Zoradi’s departure, Gamble has been named president and will serve as CEO and president from the beginning of 2022. Cinemark said Zoradi will work closely with Gamble and the ...
A Hollywood veteran who previously ran distribution at Disney, Zoradi is widely admired and news of his retirement has rattled the major studios as key film suppliers to theater chains. He will remain on the company’s board of directors until 2024.
Until Zoradi’s departure, Gamble has been named president and will serve as CEO and president from the beginning of 2022. Cinemark said Zoradi will work closely with Gamble and the ...
- 7/28/2021
- The Hollywood Reporter - Movie News
Disney is not sending stars or executives.
The heads of leading US exhibitors and National Association Of Theatre owners (NATO) top brass have issued a rallying cry ahead of CinemaCon as the fourth Covid wave gathers pace in the US and Disney sits out the show due to pandemic concerns.
With less than one month before NATO’s conference is due to kick off in Las Vegas on August 23, every major studio and a number of distributors were set to present upcoming slates at the show besides Disney (and therefore Fox), and are monitoring the pandemic’s trajectory on a daily basis.
The heads of leading US exhibitors and National Association Of Theatre owners (NATO) top brass have issued a rallying cry ahead of CinemaCon as the fourth Covid wave gathers pace in the US and Disney sits out the show due to pandemic concerns.
With less than one month before NATO’s conference is due to kick off in Las Vegas on August 23, every major studio and a number of distributors were set to present upcoming slates at the show besides Disney (and therefore Fox), and are monitoring the pandemic’s trajectory on a daily basis.
- 7/28/2021
- by Jeremy Kay
- ScreenDaily
For a big movie that illustrates how the coronavirus pandemic has re-wired the film business, consider Army of the Dead. Released in May, the Zack Snyder zombie action spectacle cost about $90 million to make. Initially set up at Warner Bros. more than a decade ago, it traveled a winding path to Netflix, which grabbed it in 2019 as it was dramatically ramping up its film output. Unlike other prominent titles that the streamer released before the pandemic, Army snagged a one-week exclusive run from Cinemark, the No. 3 U.S. exhibitor. It was the widest theatrical opening of any streaming movie to date, and it came just as turnstiles were starting to spin again. Spring releases had cracked the $100 million mark, and while capacity constraints were still putting limits on the possibilities, the movie business felt more like itself since the Covid nightmare began in early 2020.
Here’s the thing, though: Army of the Dead...
Here’s the thing, though: Army of the Dead...
- 7/7/2021
- by Dade Hayes
- Deadline Film + TV
Cinemark CEO Mark Zoradi and CFO/COO Sean Gamble both praised the pending mergers of MGM and Amazon and Discovery and WarnerMedia, saying they would help strengthen film production.
“We’re positive about this combination,” Zoradi said in response to a question about Warner Bros. Discovery. “We think this could be very good for the industry. It could be very good for the Warners product.”
The execs spoke during a virtual appearance at the 23rd annual Credit Suisse Communications Conference.
Gamble noted that Cinemark had already been in discussions with Amazon about booking its films and is “optimistic” about its $8.5 billion acquisition of MGM.
“These larger, more established streaming platforms, whether it’s Netflix or Amazon Prime, are developing more and more film production capability and they’re investing money in making bigger and more diverse film content,” Gamble said. “They’re looking to theatrical as a way to elevate and differentiate their content.
“We’re positive about this combination,” Zoradi said in response to a question about Warner Bros. Discovery. “We think this could be very good for the industry. It could be very good for the Warners product.”
The execs spoke during a virtual appearance at the 23rd annual Credit Suisse Communications Conference.
Gamble noted that Cinemark had already been in discussions with Amazon about booking its films and is “optimistic” about its $8.5 billion acquisition of MGM.
“These larger, more established streaming platforms, whether it’s Netflix or Amazon Prime, are developing more and more film production capability and they’re investing money in making bigger and more diverse film content,” Gamble said. “They’re looking to theatrical as a way to elevate and differentiate their content.
- 6/15/2021
- by Dade Hayes
- Deadline Film + TV
Sunday Am Update: At a time when the box office looked to be making progress, especially with No. 2 chain Regal reopening more theaters, it was a downer of a weekend.
Lionsgate’s R-rated Spiral: From The Book of Saw, starring Chris Rock and Samuel L. Jackson, came in with $8.7M, under the $10M-$15M many were hoping for. This despite the fact that it’s the 6th No. 1 opening for a Saw movie.
New Line/Bron/HBO Max Angelina Jolie western Those Who Wish Me Dead was not an event film like many of the titles in her resume, opening to $2.8M. Warners pushed this movie more for its streaming service as opposed to theaters, unlike its most recent opening weekend successes, Godzilla vs. Kong ($31.6M) and New Line’s Mortal Kombat ($23.3M).
Netflix’s Zack Snyder zombie movie Army of the Dead, which has a 7-day exclusive theatrical window,...
Lionsgate’s R-rated Spiral: From The Book of Saw, starring Chris Rock and Samuel L. Jackson, came in with $8.7M, under the $10M-$15M many were hoping for. This despite the fact that it’s the 6th No. 1 opening for a Saw movie.
New Line/Bron/HBO Max Angelina Jolie western Those Who Wish Me Dead was not an event film like many of the titles in her resume, opening to $2.8M. Warners pushed this movie more for its streaming service as opposed to theaters, unlike its most recent opening weekend successes, Godzilla vs. Kong ($31.6M) and New Line’s Mortal Kombat ($23.3M).
Netflix’s Zack Snyder zombie movie Army of the Dead, which has a 7-day exclusive theatrical window,...
- 5/16/2021
- by Anthony D'Alessandro
- Deadline Film + TV
The robust, if short-term, theatrical run for Netflix’s Army of the Dead starting May 21 is a sign of the marketplace to come, in the view of Cinemark CEO Mark Zoradi.
During a virtual panel at the MoffettNathanson Media & Communications Summit, Zoradi said the Zach Snyder-directed action movie’s release took shape in recent months. The companies had staged tests in select markets of Netflix movies like Christmas Chronicles 2.
Deeming those tests successful, Zoradi recalled, “We came back to the table and said, ‘What else can we do?’ And ‘Army of the Dead’ came up. It was a little bit short in our timeframe of getting it done, and I think as we go forward we’ll have more time.”
Rolling the tape back, he said, the snarled negotiations over The Irishman would turn out a lot differently in a marketplace like that of 2021, given Covid-19 and the overall boom in streaming.
During a virtual panel at the MoffettNathanson Media & Communications Summit, Zoradi said the Zach Snyder-directed action movie’s release took shape in recent months. The companies had staged tests in select markets of Netflix movies like Christmas Chronicles 2.
Deeming those tests successful, Zoradi recalled, “We came back to the table and said, ‘What else can we do?’ And ‘Army of the Dead’ came up. It was a little bit short in our timeframe of getting it done, and I think as we go forward we’ll have more time.”
Rolling the tape back, he said, the snarled negotiations over The Irishman would turn out a lot differently in a marketplace like that of 2021, given Covid-19 and the overall boom in streaming.
- 5/13/2021
- by Dade Hayes
- Deadline Film + TV
Announcement comes as authorities continue to relax restrictions across US.
Cinemark, the third largest exhibitor in the US, said on Friday (May 7) it has reached agreements for nationwide screening of films with all five US majors.
After striking an agreement with Universal Filmed Entertainment Group last year, Cinemark has reached deals with Warner Bros, Paramount, Disney, which owns 20th Century Pictures and Searchlight Pictures, and Sony Pictures Entertainment.
Terms of the deals were not disclosed. Each deal contains “unique attributes specific to the individual studio that mutually benefits both parties”.
The announcement comes as the vaccination programme in the US...
Cinemark, the third largest exhibitor in the US, said on Friday (May 7) it has reached agreements for nationwide screening of films with all five US majors.
After striking an agreement with Universal Filmed Entertainment Group last year, Cinemark has reached deals with Warner Bros, Paramount, Disney, which owns 20th Century Pictures and Searchlight Pictures, and Sony Pictures Entertainment.
Terms of the deals were not disclosed. Each deal contains “unique attributes specific to the individual studio that mutually benefits both parties”.
The announcement comes as the vaccination programme in the US...
- 5/7/2021
- by Jeremy Kay
- ScreenDaily
Big movie chain Cinemark announced Friday it’s now reached agreements to theatrically showcase films from all five major studio partners across its U.S. theaters, although it didn’t provide terms or many details.
On a conference call with analysts to discuss the exhibitor’s just released first-quarter financials, CEO Mark Zoradi called each of the five deals “different and unique.”
The announcement builds upon the exhibitor’s November agreement with Universal and includes deals with Warner Bros. Walt Disney, Paramount and Sony. It also follows news that Cinemark will play Zack Snyder’s Army of the Dead on May 14 for one week ahead of its streaming release on Netflix.
On the studio agreements, Universal was first “and in the course of the last sixty days the chain has completed deals with the other four,” Zoradi said. Each has “unique attributes specific to the individual studio that mutually benefits both parties.
On a conference call with analysts to discuss the exhibitor’s just released first-quarter financials, CEO Mark Zoradi called each of the five deals “different and unique.”
The announcement builds upon the exhibitor’s November agreement with Universal and includes deals with Warner Bros. Walt Disney, Paramount and Sony. It also follows news that Cinemark will play Zack Snyder’s Army of the Dead on May 14 for one week ahead of its streaming release on Netflix.
On the studio agreements, Universal was first “and in the course of the last sixty days the chain has completed deals with the other four,” Zoradi said. Each has “unique attributes specific to the individual studio that mutually benefits both parties.
- 5/7/2021
- by Jill Goldsmith
- Deadline Film + TV
Cinemark has reached new agreements with the five major studios that could help formalize a shorter theatrical window.
Terms of the deal were not disclosed, but it comes as Covid-19 has reshaped the amount of time that films show exclusively on the big screen before making their home entertainment debuts. The company signed a deal with Universal in November that enables the studio to put new movies on premium video-on-demand platforms 17 days after they open in theaters. Films that generate at least $50 million in opening weekend ticket sales, however, must play exclusively in theaters for 31 days, or five full weekends, the companies said at the time.
Cinemark said it now has agreements with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures and Sony Pictures Entertainment.
“Cinemark is thrilled to have reached new agreements with our major studio partners, and we are eager to continue providing movie fans an immersive,...
Terms of the deal were not disclosed, but it comes as Covid-19 has reshaped the amount of time that films show exclusively on the big screen before making their home entertainment debuts. The company signed a deal with Universal in November that enables the studio to put new movies on premium video-on-demand platforms 17 days after they open in theaters. Films that generate at least $50 million in opening weekend ticket sales, however, must play exclusively in theaters for 31 days, or five full weekends, the companies said at the time.
Cinemark said it now has agreements with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures and Sony Pictures Entertainment.
“Cinemark is thrilled to have reached new agreements with our major studio partners, and we are eager to continue providing movie fans an immersive,...
- 5/7/2021
- by Brent Lang
- Variety Film + TV
Cinemark, the nation’s third largest movie chain, said revenues for the first quarter ended in March fell to $114 million from $543 million the year before.
Admissions revenues stood at $56 million and concession revenues $39 million. Attendance was 7.7 million, average ticket price was $7.25 and concession revenue per patron was $5.10. Shares were slightly higher in premarket trade as sales beat Wall Street consensus.
Cinemark posted a net loss of $208 million compared to $59.6 million the year earlier, or diluted loss per share of $1.75 versus $0.51.
‘We are now actively on the road to recovery,” said CEO Mark Zoradi, echoing comments by AMC CEO Adam Aron at AMC Entertainment Thursday and Marcus Theatres chief executive the year before. “We are highly optimistic about theatrical exhibition’s resurgence in the U.S. over the coming months on account of… the rapid pace of the vaccine rollout, improving consumer sentiment about returning to movie theaters, recent box office...
Admissions revenues stood at $56 million and concession revenues $39 million. Attendance was 7.7 million, average ticket price was $7.25 and concession revenue per patron was $5.10. Shares were slightly higher in premarket trade as sales beat Wall Street consensus.
Cinemark posted a net loss of $208 million compared to $59.6 million the year earlier, or diluted loss per share of $1.75 versus $0.51.
‘We are now actively on the road to recovery,” said CEO Mark Zoradi, echoing comments by AMC CEO Adam Aron at AMC Entertainment Thursday and Marcus Theatres chief executive the year before. “We are highly optimistic about theatrical exhibition’s resurgence in the U.S. over the coming months on account of… the rapid pace of the vaccine rollout, improving consumer sentiment about returning to movie theaters, recent box office...
- 5/7/2021
- by Jill Goldsmith
- Deadline Film + TV
We’re still in a pandemic — especially movie theaters
Cinemark lost more money — $208.8 million — than media analysts predicted in the first quarter of 2021. The movie-theater chain did beat revenue expectations, for what that’s worth.
Wall Street had forecast a loss per share of $1.46 on $92.96 million in revenue, according to a consensus estimate compiled by Yahoo Finance. Cinemark actually posted a loss of $1.75 per share on $114.4 million in revenue.
Of that revenue figure, $56.1 million came from ticket sales and $39.5 million at the concessions stand.
For the sake of comparison, Cinemark lost $59.4 million in the first quarter of 2020, or -51 cents per share. Movie theaters in the U.S. were open for the majority of that quarter a year ago.
As of March 31, 2021, Cinemark had 301 domestic and 78 international theaters open. The company has an aggregate screen count of 5,872 in 523 theaters.
Cinemark plans to open six new theaters and 72 screens during the...
Cinemark lost more money — $208.8 million — than media analysts predicted in the first quarter of 2021. The movie-theater chain did beat revenue expectations, for what that’s worth.
Wall Street had forecast a loss per share of $1.46 on $92.96 million in revenue, according to a consensus estimate compiled by Yahoo Finance. Cinemark actually posted a loss of $1.75 per share on $114.4 million in revenue.
Of that revenue figure, $56.1 million came from ticket sales and $39.5 million at the concessions stand.
For the sake of comparison, Cinemark lost $59.4 million in the first quarter of 2020, or -51 cents per share. Movie theaters in the U.S. were open for the majority of that quarter a year ago.
As of March 31, 2021, Cinemark had 301 domestic and 78 international theaters open. The company has an aggregate screen count of 5,872 in 523 theaters.
Cinemark plans to open six new theaters and 72 screens during the...
- 5/7/2021
- by Tony Maglio
- The Wrap
Cinema giant Cinemark Holdings reported a widened $208 million loss for the first quarter of 2021 due to the coronavirus pandemic after a year-ago loss of nearly $60 million.
“The company’s financial results continue to be impacted by the Covid-19 pandemic,” said the exhibitor, led by CEO Mark Zoradi. As of March 31, it had 301 domestic and 78 international venues open. The company has a particularly strong presence in Latin America.
Cinemark had in mid-March opened its cinemas in the greater Los Angeles area with enhanced cleaning and safety protocols. Revenue for the first quarter fell to $114.4 ...
“The company’s financial results continue to be impacted by the Covid-19 pandemic,” said the exhibitor, led by CEO Mark Zoradi. As of March 31, it had 301 domestic and 78 international venues open. The company has a particularly strong presence in Latin America.
Cinemark had in mid-March opened its cinemas in the greater Los Angeles area with enhanced cleaning and safety protocols. Revenue for the first quarter fell to $114.4 ...
Cinema giant Cinemark Holdings reported a widened $208 million loss for the first quarter of 2021 due to the coronavirus pandemic after a year-ago loss of nearly $60 million.
“The company’s financial results continue to be impacted by the Covid-19 pandemic,” said the exhibitor, led by CEO Mark Zoradi. As of March 31, it had 301 domestic and 78 international venues open. The company has a particularly strong presence in Latin America.
Cinemark had in mid-March opened its cinemas in the greater Los Angeles area with enhanced cleaning and safety protocols. Revenue for the first quarter fell to $114.4 ...
“The company’s financial results continue to be impacted by the Covid-19 pandemic,” said the exhibitor, led by CEO Mark Zoradi. As of March 31, it had 301 domestic and 78 international venues open. The company has a particularly strong presence in Latin America.
Cinemark had in mid-March opened its cinemas in the greater Los Angeles area with enhanced cleaning and safety protocols. Revenue for the first quarter fell to $114.4 ...
After being delayed last year, A Quiet Place Part II will be released to theaters on May 28th! We have a look at the brand new trailer, along with details on an opening night fan event taking place at Cinemark theaters:
Hollywood, – Paramount Pictures and Cinemark Theatres today announced an Opening Night Fan Event to celebrate the debut of Paramount’s feature film “A Quiet Place Part II”, the sequel to the 2018 smash hit “A Quiet Place”. The event is to take place at Cinemark Playa Vista and Xd on Thursday, May 27th, and will feature a live Q&a with director John Krasinski. This event comes as part of the film’s opening week Welcome Back to Cinema fanfare, in advance of the movie’s nationwide opening on Friday, May 28th. Tickets to “A Quiet Place Part II” go on sale today, Thursday, May 6th.
Following the deadly events at home,...
Hollywood, – Paramount Pictures and Cinemark Theatres today announced an Opening Night Fan Event to celebrate the debut of Paramount’s feature film “A Quiet Place Part II”, the sequel to the 2018 smash hit “A Quiet Place”. The event is to take place at Cinemark Playa Vista and Xd on Thursday, May 27th, and will feature a live Q&a with director John Krasinski. This event comes as part of the film’s opening week Welcome Back to Cinema fanfare, in advance of the movie’s nationwide opening on Friday, May 28th. Tickets to “A Quiet Place Part II” go on sale today, Thursday, May 6th.
Following the deadly events at home,...
- 5/6/2021
- by Jonathan James
- DailyDead
Following the deadly events at home, the Abbott family must now face the terrors of the outside world as they continue their fight for survival in silence. Forced to venture into the unknown, they quickly realize that the creatures that hunt by sound are not the only threats that lurk beyond the sand path.
Hitting theatres on May 28, check out the brand new and final trailer and featurette from Paramount Pictures. Get ready for director John Krasinki’s long awaited sequel.
Paramount Pictures and Cinemark Theatres today announced an Opening Night Fan Event to celebrate the debut of Paramount’s feature film “A Quiet Place Part II”, the sequel to the 2018 smash hit “A Quiet Place”.
The event is to take place at Cinemark Playa Vista and Xd on Thursday, May 27th, and will feature a live Q&a with director John Krasinski. This event comes as part of the...
Hitting theatres on May 28, check out the brand new and final trailer and featurette from Paramount Pictures. Get ready for director John Krasinki’s long awaited sequel.
Paramount Pictures and Cinemark Theatres today announced an Opening Night Fan Event to celebrate the debut of Paramount’s feature film “A Quiet Place Part II”, the sequel to the 2018 smash hit “A Quiet Place”.
The event is to take place at Cinemark Playa Vista and Xd on Thursday, May 27th, and will feature a live Q&a with director John Krasinski. This event comes as part of the...
- 5/6/2021
- by Michelle Hannett
- WeAreMovieGeeks.com
Despite taking a pay cut to help weather the Covid-19 storm, Cinemark CEO Mark Zoradi saw his total compensation increase in 2020, according to an SEC filing.
Zoradi earned $6.9 million in 2020, up from the $6.3 million he pulled in for 2019.
While his salary decreased from $1 million to $740,000 and his Non-Equity Incentive Plan Compensation went to zero, he more than made up for it elsewhere. Zoradi’s stock awards from $3.1 million in 2019 to $5.8 million in 2020, while under the catch-all “All Other Compensation,” his earnings went from $165,000 to $413,000.
Cinemark, which like all U.S theater chains has been rocked by the pandemic over the last 12 months, lost $239.3 million in the final quarter of 2020. As of December 31, 2020, Cinemark had 217 domestic and 129 international movie theaters open — all operating at limited hours and showing mostly library titles. More recent weeks have been brighter for Cinemark, as the pandemic has receded down from the astronomically high levels in...
Zoradi earned $6.9 million in 2020, up from the $6.3 million he pulled in for 2019.
While his salary decreased from $1 million to $740,000 and his Non-Equity Incentive Plan Compensation went to zero, he more than made up for it elsewhere. Zoradi’s stock awards from $3.1 million in 2019 to $5.8 million in 2020, while under the catch-all “All Other Compensation,” his earnings went from $165,000 to $413,000.
Cinemark, which like all U.S theater chains has been rocked by the pandemic over the last 12 months, lost $239.3 million in the final quarter of 2020. As of December 31, 2020, Cinemark had 217 domestic and 129 international movie theaters open — all operating at limited hours and showing mostly library titles. More recent weeks have been brighter for Cinemark, as the pandemic has receded down from the astronomically high levels in...
- 4/2/2021
- by Tim Baysinger
- The Wrap
Cinemark Holdings Inc. CEO Mark Zoradi saw his total compensation for 2020 rise to $6.9 million, compared to $6.3 million in 2019, according to the company’s proxy statement filed with the Securities and Exchange Commission on Friday.
That was before Cinemark, the third-largest theater circuit in the U.S. behind AMC Theatres and Regal, swung to a loss for much of 2020 as it faced theater closures and reopenings nationwide amid the novel coronavirus outbreak.
During the Covid-19 crisis, the chain saw senior management give up part of their salaries at the same time there were deep ...
That was before Cinemark, the third-largest theater circuit in the U.S. behind AMC Theatres and Regal, swung to a loss for much of 2020 as it faced theater closures and reopenings nationwide amid the novel coronavirus outbreak.
During the Covid-19 crisis, the chain saw senior management give up part of their salaries at the same time there were deep ...
Cinemark Holdings Inc. CEO Mark Zoradi saw his total compensation for 2020 rise to $6.9 million, compared to $6.3 million in 2019, according to the company’s proxy statement filed with the Securities and Exchange Commission on Friday.
That was before Cinemark, the third-largest theater circuit in the U.S. behind AMC Theatres and Regal, swung to a loss for much of 2020 as it faced theater closures and reopenings nationwide amid the novel coronavirus outbreak.
During the Covid-19 crisis, the chain saw senior management give up part of their salaries at the same time there were deep ...
That was before Cinemark, the third-largest theater circuit in the U.S. behind AMC Theatres and Regal, swung to a loss for much of 2020 as it faced theater closures and reopenings nationwide amid the novel coronavirus outbreak.
During the Covid-19 crisis, the chain saw senior management give up part of their salaries at the same time there were deep ...
Update, Friday Am: This list will be updated on a regular basis: As we first told you (scroll down) Hollywood’s 94-year-old Tcl Chinese Theatre is reopening today, however for tours only. This will be followed by Imax showtimes of Tenet on Monday with a full official ribbon-cutting/reopening ceremony on Monday March 29 with all four directors of current and previous Godzilla and King Kong movies in honor of Legendary/Warner Bros’ Godzilla vs Kong‘s opening on Wednesday.
Film Directors Adam Wingard (Godzilla vs. Kong), Michael Dougherty (Godzilla: King of the Monsters), Jordan Vogt-Roberts (Kong: Skull Island), and Gareth Edwards (Godzilla) as well as Josh Grode, CEO of Legendary Entertainment will be present. Starting Wednesday when Godzilla vs. Kong opens, Imax tickets for select seats at the Chinese Theatre will be $5 for two weeks. In conjunction with promo partner, The HollyGold Foundation, 1K movie tickets will be donated to...
Film Directors Adam Wingard (Godzilla vs. Kong), Michael Dougherty (Godzilla: King of the Monsters), Jordan Vogt-Roberts (Kong: Skull Island), and Gareth Edwards (Godzilla) as well as Josh Grode, CEO of Legendary Entertainment will be present. Starting Wednesday when Godzilla vs. Kong opens, Imax tickets for select seats at the Chinese Theatre will be $5 for two weeks. In conjunction with promo partner, The HollyGold Foundation, 1K movie tickets will be donated to...
- 3/26/2021
- by Anthony D'Alessandro
- Deadline Film + TV
The first few days after Los Angeles movie theaters reopened this week reflected the mixed outlook facing the industry: Plenty of reasons for hope but tough challenges ahead — especially for smaller chains and art-house cinemas. This weekend, AMC Theatres will have all 25 of its Los Angeles County locations back online. The chain’s Burbank and Century City locations, which reopened on Monday, filled a combined 40 screenings on that day up to the 25% limit mandated by California’s four-tier reopening system, according to an individual with knowledge of the company. Cinemark is also in the process of reopening its locations not only in Los Angeles but across California. CEO Mark Zoradi said that locations in Van Nuys, Playa Vista and at the Howard Hughes Center near Lax have seen solid business and multiple limited-capacity sellouts. Plans are continuing to open more locations in cities like Sacramento and San Bernardino, and the...
- 3/19/2021
- by Jeremy Fuster
- The Wrap
Greg Peters, the product chief at Netflix who was promoted to the additional role of COO last year, views the shrinking of theatrical windows as inevitable.
“It’s what consumers want,” he said. “It’s hard to buck that trend for too long and I think that’s eventually where things go.”
Long before Covid-19 forced an industry rethink of exclusive theatrical release windows, Netflix started pouring billions of dollars into films. The push has yielded major awards contenders like The Irishman, Roma and this year’s large crop, including Da Five Bloods, Mank and I Care a Lot. It has also produced wide-audience films with traditional Hollywood DNA like The Old Guard, Extraction and Six Underground. Talks between exhibitors and Netflix have not led to a distribution breakthrough, though Cinemark has been tested shorter Netflix windows.
“It’s what consumers want,” he said. “It’s hard to buck that trend for too long and I think that’s eventually where things go.”
Long before Covid-19 forced an industry rethink of exclusive theatrical release windows, Netflix started pouring billions of dollars into films. The push has yielded major awards contenders like The Irishman, Roma and this year’s large crop, including Da Five Bloods, Mank and I Care a Lot. It has also produced wide-audience films with traditional Hollywood DNA like The Old Guard, Extraction and Six Underground. Talks between exhibitors and Netflix have not led to a distribution breakthrough, though Cinemark has been tested shorter Netflix windows.
- 3/2/2021
- by Dade Hayes
- Deadline Film + TV
Mark Zoradi, CEO of major exhibitor Cinemark and a former longtime Disney executive, sees some familiar elements on the summer release calendar, which he sees as a potential Covid-19 recovery turning point.
“The last weekend in May, in that traditional beginning of summer, you have Cruella from Disney and you have F9 from Universal and you have Infinite from Paramount,” he said. “So, you’ve got three big movies.” The July Fourth weekend, he added, has Minions: The Rise of Gru and Top Gun: Maverick.
Given those studio commitments, declining virus infection rates and ramped-up vaccinations, Zoradi said, “We’re optimistic that we’re going to be able to light up these theaters again come this summer.”
Zoradi and COO and CFO Sean Gamble offered their read of the market and detailed Cinemark’s “Project Phoenix” comeback effort during a conference call with Wall Street analysts this morning. One obvious key is more theaters reopening.
“The last weekend in May, in that traditional beginning of summer, you have Cruella from Disney and you have F9 from Universal and you have Infinite from Paramount,” he said. “So, you’ve got three big movies.” The July Fourth weekend, he added, has Minions: The Rise of Gru and Top Gun: Maverick.
Given those studio commitments, declining virus infection rates and ramped-up vaccinations, Zoradi said, “We’re optimistic that we’re going to be able to light up these theaters again come this summer.”
Zoradi and COO and CFO Sean Gamble offered their read of the market and detailed Cinemark’s “Project Phoenix” comeback effort during a conference call with Wall Street analysts this morning. One obvious key is more theaters reopening.
- 2/26/2021
- by Dade Hayes
- Deadline Film + TV
Cinemark lost $239.3 million in the final quarter of 2020, the movie-theater chain revealed on Friday.
Wall Street had forecast a Q4 loss of $1.46 per share on revenue of $79.77 million, according to a consensus of 11 analysts compiled by Yahoo Finance. Cinemark reported a diluted loss per share of $2.03 on revenue of $98.2 million.
For an admittedly unfair comparison due to timing of the coronavirus pandemic, in the fourth quarter of 2019, Cinemark brought in $434.3 million in revenue. The company made money back then: 22 cents per share, or $26.9 million on an overall basis.
As of December 31, 2020, Cinemark had 217 domestic and 129 international movie theaters open — all operating at limited hours and showing mostly library titles. There were some new releases.
During the final three months of 2020, Cinemark theaters welcomed 6.6 million patrons. The averaged ticket price was $7.42 and concession revenue per customer was $4.75.
“It is almost unfathomable that one year ago, we were reporting Cinemark’s fifth...
Wall Street had forecast a Q4 loss of $1.46 per share on revenue of $79.77 million, according to a consensus of 11 analysts compiled by Yahoo Finance. Cinemark reported a diluted loss per share of $2.03 on revenue of $98.2 million.
For an admittedly unfair comparison due to timing of the coronavirus pandemic, in the fourth quarter of 2019, Cinemark brought in $434.3 million in revenue. The company made money back then: 22 cents per share, or $26.9 million on an overall basis.
As of December 31, 2020, Cinemark had 217 domestic and 129 international movie theaters open — all operating at limited hours and showing mostly library titles. There were some new releases.
During the final three months of 2020, Cinemark theaters welcomed 6.6 million patrons. The averaged ticket price was $7.42 and concession revenue per customer was $4.75.
“It is almost unfathomable that one year ago, we were reporting Cinemark’s fifth...
- 2/26/2021
- by Tony Maglio
- The Wrap
Updated with closing stock price. Cinemark shares gained 1% to close at $19.11, their highest level since last June, after a resounding vote of confidence from veteran exhibition analyst Eric Wold of B. Riley.
Wold upgraded Cinemark shared to “buy” from “neutral” and doubled his price target to $28. In a note to clients, the analyst said he held a “fireside chat” with the management of the major theater circuit earlier this week, a conversation that informed his bullish turn.
Despite the raging infection rates of Covid-19 across the country, which continue to keep a lid on major markets like LA and New York, Wold believes Cinemark is well-positioned during and after the pandemic.
“We came away from our discussion increasingly confident in the steps management has taken over the past year to not only keep Cinemark financially on track during the uncertainty, but to also position the company to emerge from the...
Wold upgraded Cinemark shared to “buy” from “neutral” and doubled his price target to $28. In a note to clients, the analyst said he held a “fireside chat” with the management of the major theater circuit earlier this week, a conversation that informed his bullish turn.
Despite the raging infection rates of Covid-19 across the country, which continue to keep a lid on major markets like LA and New York, Wold believes Cinemark is well-positioned during and after the pandemic.
“We came away from our discussion increasingly confident in the steps management has taken over the past year to not only keep Cinemark financially on track during the uncertainty, but to also position the company to emerge from the...
- 1/15/2021
- by Dade Hayes
- Deadline Film + TV
B. Riley Securities analyst Eric Wold on Friday upgraded his rating on shares of cinema giant Cinemark from “neutral” to “buy” and doubled his stock price target to $28, predicting “attendance should return to 2019 levels by 2023.”
Following a chat this week with Cinemark CEO Mark Zoradi, CFO and COO Sean Gamble and Chanda Brashears, vp of investor relations, about the coronavirus pandemic and the company’s outlook, Wold published a report entitled “Virtual ‘Fireside Chat’ Highlights Underlying Operating Strengths in the Midst of Reopening Uncertainties.”
“We continue to believe that consumers ...
Following a chat this week with Cinemark CEO Mark Zoradi, CFO and COO Sean Gamble and Chanda Brashears, vp of investor relations, about the coronavirus pandemic and the company’s outlook, Wold published a report entitled “Virtual ‘Fireside Chat’ Highlights Underlying Operating Strengths in the Midst of Reopening Uncertainties.”
“We continue to believe that consumers ...
- 1/15/2021
- The Hollywood Reporter - Movie News
B. Riley Securities analyst Eric Wold on Friday upgraded his rating on shares of cinema giant Cinemark from “neutral” to “buy” and doubled his stock price target to $28, predicting “attendance should return to 2019 levels by 2023.”
Following a chat this week with Cinemark CEO Mark Zoradi, CFO and COO Sean Gamble and Chanda Brashears, vp of investor relations, about the coronavirus pandemic and the company’s outlook, Wold published a report entitled “Virtual ‘Fireside Chat’ Highlights Underlying Operating Strengths in the Midst of Reopening Uncertainties.”
“We continue to believe that consumers ...
Following a chat this week with Cinemark CEO Mark Zoradi, CFO and COO Sean Gamble and Chanda Brashears, vp of investor relations, about the coronavirus pandemic and the company’s outlook, Wold published a report entitled “Virtual ‘Fireside Chat’ Highlights Underlying Operating Strengths in the Midst of Reopening Uncertainties.”
“We continue to believe that consumers ...
- 1/15/2021
- The Hollywood Reporter - Film + TV
Cinemark CEO Mark Zoradi expects “some contraction” in the movie theater business due to Covid-19, but said his company is not actively pursuing acquisitions or takeovers of leases held by less well-fortified rivals.
“Our No. 1 priority is to rebuild our balance sheet,” he said at the Mkm Partners Virtual Investor Conference. “We are going to be very careful in taking cash that we have on hand, of which we have plenty, and risking it with acquisitions where we’re not certain what that particular outlet is going to do in a post-pandemic environment. Until a landlord actually owns a property, it obviously is not appropriate for us to be negotiating with that landlord prior to that moment.”
Zoradi dismissed a report in the New York Post that the company was looking to swoop in on some locations run by troubled competitor AMC Entertainment. “We tried to tell them that was...
“Our No. 1 priority is to rebuild our balance sheet,” he said at the Mkm Partners Virtual Investor Conference. “We are going to be very careful in taking cash that we have on hand, of which we have plenty, and risking it with acquisitions where we’re not certain what that particular outlet is going to do in a post-pandemic environment. Until a landlord actually owns a property, it obviously is not appropriate for us to be negotiating with that landlord prior to that moment.”
Zoradi dismissed a report in the New York Post that the company was looking to swoop in on some locations run by troubled competitor AMC Entertainment. “We tried to tell them that was...
- 12/16/2020
- by Dade Hayes
- Deadline Film + TV
Cinemark CEO Mark Zoradi insists he has no interest in acquiring movie theaters directly from AMC Theatres as his rival looks to survive the pandemic.
But that won’t stop Cinemark from negotiating with landlords for new locations when they take back ownership of venues from struggling theater circuits. “We’re not in those negotiations or discussions at this point with any landlord, regardless of the rumor that came out in the New York Post. It wasn’t true,” Zoradi told the Mkm Virtual Investor Conference during a session that was webcast.
The Cinemark boss was responding to earlier ...
But that won’t stop Cinemark from negotiating with landlords for new locations when they take back ownership of venues from struggling theater circuits. “We’re not in those negotiations or discussions at this point with any landlord, regardless of the rumor that came out in the New York Post. It wasn’t true,” Zoradi told the Mkm Virtual Investor Conference during a session that was webcast.
The Cinemark boss was responding to earlier ...
- 12/16/2020
- The Hollywood Reporter - Movie News
Cinemark CEO Mark Zoradi insists he has no interest in acquiring movie theaters directly from AMC Theatres as his rival looks to survive the pandemic.
But that won’t stop Cinemark from negotiating with landlords for new locations when they take back ownership of venues from struggling theater circuits. “We’re not in those negotiations or discussions at this point with any landlord, regardless of the rumor that came out in the New York Post. It wasn’t true,” Zoradi told the Mkm Virtual Investor Conference during a session that was webcast.
The Cinemark boss was responding to earlier ...
But that won’t stop Cinemark from negotiating with landlords for new locations when they take back ownership of venues from struggling theater circuits. “We’re not in those negotiations or discussions at this point with any landlord, regardless of the rumor that came out in the New York Post. It wasn’t true,” Zoradi told the Mkm Virtual Investor Conference during a session that was webcast.
The Cinemark boss was responding to earlier ...
- 12/16/2020
- The Hollywood Reporter - Film + TV
Cinemark is the first major exhibitor to weigh in today regarding WarnerMedia’s decision to put their 2021 theatrical slate in both theaters stateside and HBO Max simultaneously.
Essentially the No. 3 exhibitor will take it easy as it does, and said the following today via a company rep:
“In light of the current operating environment, we are making near-term booking decisions on a film-by-film basis. At this time, Warner Bros. has not provided any details for the hybrid distribution model of their 2021 films.”
While AMC immediately heralded Warner’s decision to put Wonder Woman 1984 on HBO Max and in cinemas during the pandemic on Christmas, Cinemark never responded. Those in distribution land say that Cinemark is bound to come around and play the movie, but nothing official yet. Cinemark Boss Mark Zoradi as a former Disney vet has always been pragmatic about windows decisions, having a full understanding of the studio side.
Essentially the No. 3 exhibitor will take it easy as it does, and said the following today via a company rep:
“In light of the current operating environment, we are making near-term booking decisions on a film-by-film basis. At this time, Warner Bros. has not provided any details for the hybrid distribution model of their 2021 films.”
While AMC immediately heralded Warner’s decision to put Wonder Woman 1984 on HBO Max and in cinemas during the pandemic on Christmas, Cinemark never responded. Those in distribution land say that Cinemark is bound to come around and play the movie, but nothing official yet. Cinemark Boss Mark Zoradi as a former Disney vet has always been pragmatic about windows decisions, having a full understanding of the studio side.
- 12/3/2020
- by Anthony D'Alessandro
- Deadline Film + TV
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