One week after CinemaCon feted the revival of the cinema business after two long pandemic-plagued years, one of the world’s biggest exhibitors affirmed the comeback wasn’t just trade show hype.
Cinemark, North America’s third largest cinema chain with locations throughout Central and South America, announced a 303% increase in first quarter revenue to $460.5 million compared with USD $114.4 million for the three months ended March 31, 2021. The Texas-based operator reported a USD $74 million loss for the quarter, far less than the USD $208.3 million loss for the same three months in 2021.
Cinemark earned admissions revenue of USD $235.8 million and concession revenue of USD $173.0 million as attendance reached 33.1 million patrons. The company’s average ticket price was USD $7.12, and concession revenues per patron was USD $5.23.
“Cinemark once again outpaced North American industry box office recovery by a significant 650 basis points when comparing first quarter 2022 against first quarter 2019. Similarly, our international admissions surpassed their corresponding industry results by 500 basis points,” Cinemark President and CEO Sean Gamble said in a statement. “Despite a challenging start to the quarter due to omicron-related shifts in film content, we delivered positive adjusted EBITDA, driven by our industry out-performance, strong concessions sales and stringent cost management.”