CGX Cineplex Inc

Company Reaches Agreement with Netflix for Theatrical Release of Glass Onion: A Knives Out Mystery

TORONTO, Oct. 11, 2022 /CNW/ - (TSX: CGX) – Today, Cineplex Inc. ("Cineplex" or the "Company") reported September box office revenues of $23 million, which represents 52 per cent of box office revenues when compared to the same month in 2019. In line with projections discussed on its second quarter 2022 earnings call, lower business volumes were expected in August and September due to pandemic related production delays impacting content supply. Recognizing limited Hollywood content through two thirds of the quarter, the Company focused on increasing its offerings of international product and undertook a series of targeted reengagement campaigns, which enabled it to achieve 70 per cent of box office revenues in Q3 2022 versus Q3 2019.

Leading film performances during the month of September included Top Gun: Maverick, which is still attracting audiences after its 19^th week of release, and Bollywood title, Brahmastra Part One: Shiva, which accounted for 8.1 per cent of Cineplex's total box office and an impressive North American market share of 24.4 per cent for the month.

"The industry has turned a corner from a film slate perspective. We have many highly anticipated titles hitting the big screen this month and the balance of the year including Black Adam, Black Panther: Wakanda Forever, Glass Onion: A Knives Out Mystery, and Puss in Boots: The Last Wish. Lastly, we are looking forward to a strong close to the year with the release of the most anticipated film, Avatar: The Way of Water, which is the sequel to the highest grossing film of all time," said Ellis Jacob, President & CEO, Cineplex. "We are focused on increasing our offerings and generating momentum for our business, as evidenced through the partnerships with non-traditional studios, and through the success of International Cinema in attracting a wide Canadian audience."

Glass Onion: A Knives Out Mystery will be screening at 40 Cineplex theatres across Canada from November 23-29, 2022. Tickets will be available on Cineplex.com, the Cineplex App and at the local box office starting October 14, 2022.

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 over 170 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) and complexes specially designed for teens and families (Playdium). It also operates successful businesses in digital commerce (CineplexStore.com), alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media) and amusement solutions (Player One Amusement Group). 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 and the United States. To learn more, visit Cineplex.com.

SOURCE Cineplex