Cineworld revenue up 10% on 'Black Panther' and 'Avengers' popularity
Source - SMW
Cineworld said it expected to deliver full-year performance in line with expectations as a popular films such as 'Black Panther' drove a 10% rise in year-to-date revenue.
For the period from 1 Jan to 13 May, the firm said group admissions increased by 1.1% on a pro-forma basis, largely driven by the success of 'Black Panther' and 'Avengers: Infinity War' in the US.
Box office and retail revenue grew 9.6% and 9.9% on a pro-forma basis, respectively.
Cineworld acquired 558 sites with the Regal acquisition, and a further two sites were opened in the US post acquisition, the firm said.
The group continued to expand in its existing territories with two new sites opened in the UK and one in Romania, bringing the total number of sites in the group as at 13 May 2018 to 793 with 9,548 screens, the firm said.
Cineworld struck significant new agreements with both IMAX and 4DX amid plans to install a total of 55 new IMAX Laser projectors across the full estate and 80 4DX screens in the US, which would bring the total number of 4DX screens in the group to 145.