TORONTO, CANADA ( November 6, 2025 ) - Today, Cineplex Inc. (“Cineplex” or the “Company”) released its financial results for the three and nine months ended September 30, 2025. Unless otherwise specified, all amounts contained in this news release are in Canadian dollars.
Q3 2025 Highlights
Generated Adjusted EBITDAaL of $33.3 million, compared to $47.9 million in the prior year primarily due to an attendance decline of 9.1% as the prior year benefited from the record-breaking performance of “Deadpool & Wolverine”
Premium experiences accounted for an impressive 44.7% of total box office revenue
International film product contributed 13.6% of total box office revenues, marking the highest third quarter share in Cineplex’s history
Cinema Media per Patron increased 16.7% year-over-year
Renewed Normal Course Issuer Bid (“NCIB”) Program
“The consistency of film product and the continued appetite for premium experiences remained evident throughout the third quarter despite not having a title comparable to last year’s historic ‘Deadpool & Wolverine,'” said Ellis Jacob, President and CEO, Cineplex. “Audiences responded enthusiastically to a diverse slate of original and international films, reinforcing the value of our elevated and immersive theatrical offerings.
Cinema media remains a premium platform for advertisers, with sustained year-over-year growth reflecting resilience despite a challenging advertising market. Subsequent to quarter end, we announced the sale of Cineplex Digital Media, which will enhance our financial flexibility, enabling us to reduce leverage, pursue strategic share repurchases within the parameters of our current debt agreements and allocate capital toward broader corporate priorities.
We also saw contributions from our Location-Based Entertainment portfolio, with the addition of three new venues in late 2024, driving incremental revenue over the prior year. Together, these achievements underscore our commitment to delivering consistent cash flow and long-term value for our shareholders.
This past September, we were deeply saddened by the passing of Nadir Mohamed a member of the Board of Directors since 2017. His strategic insight and thoughtful leadership contributed to many impactful decisions that will continue to shape the Company’s future. This marks a profound loss for Cineplex and the Canadian entertainment industry.”
Announces Appointment of Kevin Johnson to Board of Directors
The Company is pleased to announce the appointment of Kevin Johnson to its Board of Directors, effective immediately. Mr. Johnson is a recognized leader in the Canadian media and advertising industry, currently serving as CEO of WPP Media Canada and President of WPP Canada. Mr. Johnson has more than two decades of experience driving growth and innovation and brings deep expertise in marketing strategy and new business development.
His strategic vision and experience will be invaluable in advancing the Company’s strategic priorities in the film entertainment, media and location-based entertainment businesses.
Key Developments in the Third Quarter of 2025
The following describes certain key business initiatives undertaken and results achieved during 2025 in each of Cineplex’s core business areas
Film Entertainment and Content
Theatre Exhibition
Reported third quarter box office revenues of $159.5 million, a decrease of $15.4 million or 8.8% from $174.9 million in the prior year. The decrease is due to a 9.1% decrease in theatre attendance, driven by a stronger film slate in the prior year, which included “Deadpool & Wolverine.”
Reported a third quarter record BPP of $13.23, an increase of $0.04 or 0.3% compared to the prior year of $13.19.
During the Labour Day weekend, Cineplex offered general admission movie tickets and a small bag of popcorn for $5 each, plus tax, in order to drive incremental attendance.
Theatre Food Service
Reported third quarter theatre food service revenues of $116.3 million, a decrease of $14.3 million or 10.9% compared to the prior year, primarily due to a 9.1% decrease in theatre attendance.
Reported a third quarter CPP of $9.65, a decrease of $0.20 or 2.0% compared to the prior year, primarily due to a decrease in average transaction spend from the Labour Day weekend promotion.
Alternative Programming and Distribution
Cineplex Pictures (Cineplex’s distribution business) distributed “The Long Walk,” “The Strangers – Chapter 2,” and “Shin Godzilla 4K” during the third quarter.
Continued its leadership position in alternative programming, with international films accounting for 13.6% of third quarter box office revenues, compared to an 8.4% share across North America. Strong performing titles included “Chal Mera Putt 4” (Punjabi) and “Sadaar Ji 3” (Punjabi), each representing over 70% of the North American box office for their respective releases, along with “Demon Slayer: Kimetsu No Yaiba Infinity Castle” (Japanese) of which became the highest-grossing foreign-language film of all time at both the box office and in Cineplex history.
Event Cinema programming featured a variety of successful initiatives including the sing-along event of the hit movie “KPop Demon Hunters,” the anime screening of “Jujutsu Kaisen: Hidden Inventory / Premature Death – The Movie,” and Andre Rieu’s “Waltz the Night Away!,” which continued to attract fans to theatres with an annual Maastricht concert.
Cinema Media
Reported third quarter cinema media revenues of $19.2 million, an increase of $1.1 million or 6.1% from the prior year despite the challenging overall advertising market.
Continued to leverage expertise in data and analytics to drive revenues.
Location-based Entertainment
Reported third quarter revenues and a third quarter record of $34.6 million, an increase of $3.5 million or 11.3% compared to the prior year due to three additional locations that opened in the fourth quarter of 2024.
Reported third quarter adjusted store level EBITDAaL of $5.8 million, a decrease of $1.8 million or 23.7% compared to the prior year, primarily due to an increase in operating expenses due to three new locations.
Loyalty
Membership in the Scene+ loyalty program was over 15 million members as at September 30, 2025.
Corporate
On October 16, 2025, Cineplex Entertainment Limited Partnership announced that it had entered into a definitive purchase agreement to sell 100% of the issued and outstanding shares of DDC Group International Inc., which operated the digital place-based media division through its wholly owned subsidiary (CDM), for cash proceeds of $70.0 million, subject to customary post-closing adjustments.
Cineplex renewed its NCIB on August 26, 2025, authorizing the repurchase and cancellation of up to 6.3 million common shares (the “Common Shares”), representing 10% of its public float outstanding as of August 14, 2025.
Commemorated National Day for Truth and Reconciliation on September 30, 2025, by raising awareness, honouring Indigenous communities through Pre-Show content.
During the quarter, Cineplex was deeply saddened by the passing of Nadir Mohamed, a valued member of Cineplex’s board of directors since 2017. Nadir’s strategic guidance and contributions made a meaningful and lasting impact on Cineplex.
About Cineplex
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 171 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media or CDM), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada’s largest entertainment and lifestyle loyalty program.
Proudly recognized as having one of the country’s Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada. To learn more, visit Cineplex.com.
