UK boutique cinema chain Everyman Media Group has returned to profit, demonstrating audiences’ appetite for high/end cinema as an “affordable treat.” Everyman recorded a profit of GBP £402,000 in the year to 29 December, compared to a loss of GBP £2.2 million the previous (pandemic) year. Underlying earnings rose from GBP £8.3 million to GBP £14.5 million on an adjusted basis. Meanwhile admissions rose from 2 million to 3.4 million. Everyman is now the United Kingdom’s fourth largest cinema chain.
Everyman CEO Alex Scrimgeour sees Everyman being resilient even in challenging economic circumstances. Ticket price went up from GBP £11.00 to GBP £11.29, but food and drink spending rose from an average of GBP £9.07 to GBP £9.34. Everyman is the largest UK cinema chain to regularly show films from both Hollywood studios and independents, but also streamers such as Netflix, Amazon Prime, Apple TV+, Curzon, Sky and others.
“The diversity of content was bolstered by streamers demonstrating a further commitment to cinema and increasingly seeing the value in original content for theatrical release. Key examples of this were Netflix’s ‘Knives Out: A Glass Onion Mystery’ and Apple’s ‘Spirited’.”Alex Scrimgeour, CEO Everyman Media Group
Like other UK cinema operators, Everyman saw an increase on the back of 2022 blockbusters such as “Top Gun: Maverick” and “Avatar: the Way of Water.” Overall UK box office rose by 64% in 2022 to GBP £979 million.
Everyman opened two new sites in 2022, located in Edinburgh and Egham outside London, giving it a total of 38 locations and 130 screens. This year it is opening a further six sites, including Durham, Plymouth, Bury St. Edmunds and Marlow.