TORONTO – Expanding into new business organisations such as gaming and enhanced specialty food helps theatre chain Cineplex Inc. lure people from on-demand entertainment in their living spaces, but The exorcist proved to be the actual force behind its blockbuster annual and fourth-quarter results.
Net income more than doubled during the three-month period ended Dec. 31 to $76.8 million or $1.22 per share, up from $32.1 million (51 cents) a year earlier, and overall revenue soared 23 percent to $407.4 million, the Toronto-based company said Tuesday.
Box office revenue was $196.3 million at that time, up 14 per cent.
The fourth quarter and twelve month 2015 outcome was the best in Cineplex’s history, Cineplex Entertainment leader Ellis Jacob told analysts on the business call.
“Star Wars: The Force Awakens generated 22 percent of box office revenue throughout the quarter, although the movie had played for (just) Fourteen days,” Jacob said, also citing Spectre and also the Martian as strong draws. “Simply put, the quarter would be a tremendous success, and proves once more that customers love experiencing a movie within the theatre on a giant screen having a great sound.”
Star Wars: The Force Awakens, which now had become the third film in history to surpass US$2 billion in global box office sales, along with Titanic and Avatar, was Cineplex’s top film for 2015 and also the highest grossing film up to now in North America.