Cineplex Posts Record Quarterly Revenue Driven by 'Star Wars' Box Office
The Canadian exhibition giant records its best-ever fourth-quarter and full-year results.
Star Wars: The Force Awakens helped lift Canadian exhibition giant Cineplex Entertainment to record fourth-quarter and full-year revenue, the company said Tuesday.
Toronto-based Cineplex posted earnings of CAN$76.8 million ($54.5 million) for the three months ended Dec. 31, up 140 percent from a year-ago profit of CAN$32 million. Full-year earnings were up 76 percent to CAN$134.2 million ($96 million).
Fourth-quarter revenue came to CAN$407.4 million ($292 million), up 22.6 percent from a year-ago CAN$332.2 million, and CAN$1.4 billion ($1.02 billion) for the full year, up 11 percent.
Box office, food and attendance also set new all-time highs for Cineplex as The Force Awakens became the highest-grossing film of all time in North America.
The tentpole also drove 22 percent of the Canadian circuit's box office during the fourth quarter, despite only being in its theaters for 14 days. Star Wars: The Force Awakens shattered record after record after launching in late December, quickly surpassing Avatar ($760.5 million) to become the top-grossing film of all time domestically, not accounting for inflation.
Avatar, however, is assured of remaining the No. 1 title of all time globally with $2.79 billion. Cineplex also had strong box-office performers with Spectre, The Martian and The Hunger Games: Mockingjay Part 2.