Taylor Swift Concert Film Helped Boost Average Ticket Prices By 50 Cents At Cinemark Theaters In Q4; CEO Also Sizes Up Streamers’ Role In Box Office Comeback Bid – Deadline

By Dade Hayes
Business Editor
Taylor Swift’s Eras Tour concert-doc blockbuster drove a 50-cent increase in average ticket prices at Cinemark locations in the fourth quarter, a top exec at the movie theater circuit said.
Speaking to Wall Street analysts during the company’s quarterly earnings call Friday, CFO Melissa Thomas said that in addition to being able to charge more for tickets, Cinemark theaters also sold more concessions thanks to the Swifties. “Per-caps,” the industry term for concessions revenue per moviegoer, increased 14 cents during the quarter, Thomas said. The concert film grossed nearly $181 million domestically and $81 million internationally, providing a much-needed injection of hope into an otherwise depleted year-end period.

Related Stories

Despite the welcome Swift bump, Cinemark’s quarterly results reflected the tepid box office environment created by the dual Hollywood strikes. Total revenue rose 6.5% from a year earlier to $638.9 million and losses per share narrowed to 15 cents from 82 cents. The revenue line was better than analysts’ consensus forecast, but losses were worse than Street expectations.
A shortage of wide releases due to the strikes will cast a pall over 2024, CEO Sean Gamble confirmed. While 2025 will see a “bounce-back” closer to pre-pandemic levels, the long-hoped-for recovery “may be a 2026 phenomenon,” the exec said. The company has “line of sight” to 90 releases this year, Gamble added, with another five potentially entering the arena based on historical patterns.
“Things are moving in the right direction,” Gamble said. “We’re thrilled to see that despite everything that’s happened with the strikes, there hasn’t been any change to the strategy” with theatrical at studios and streamers.
Asked about the role Apple and Amazon might play in the recovery, Gamble said the approach at the two tech giants is “more akin to traditional studios. What everyone’s data has shown is that these films that are big releases theatrically are performing better on streaming platforms and are delivering more value.”
Even though Netflix continues to make theaters a marginal part of its release strategy, Gamble said Apple and Amazon “are leaning into cert types of traditional films and looking to launch them in trad ways in order to generate interest when they reach streaming.”

Windows, he added, are “beginning to gel at 45 days” from theatrical bow to streaming debut.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.
Signup for Breaking News Alerts & Newsletters
By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.
Get our latest storiesin the feed of your favorite networks
We want to hear from you! Send us a tip using our annonymous form.
Sign up for our breaking news alerts
By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.
Deadline is a part of Penske Media Corporation. © 2024 Deadline Hollywood, LLC. All Rights Reserved.
By providing your information, you agree to our Terms of Use and our Privacy Policy. We use vendors that may also process your information to help provide our services. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply.

source

Sim

Related Posts

Taylor Swift and Travis Kelce's Loved Ones See an Engagement 'Coming Sooner Than Later': Source – Entertainment Tonight

Excitement over a potential engagement between Taylor Swift and Travis Kelce has been brewing and according to ET’s source, a proposal might be on the horizon.The source tells ET,…

Taylor Swift and Travis Kelce pose for loved-up pics, kiss on romantic boat ride in Italy – Page Six

Taylor Swift and Travis Kelce pose for loved-up pics, kiss on romantic boat ride in Italy  Page Sixsource

Fans divided over age restriction in Stockholm for Taylor Swift's Eras Tour – USA TODAY

STOCKHOLM — Welcome to “Swiftholm!”The capital city of Sweden changed its name temporarily to honor Taylor Swift and her massively successful Eras Tour. Swift was set to…

Chiefs star Mitch Schwartz's wife blasts Harrison Butker for quoting Taylor Swift in 'Handmaid's Tale' speech – Page Six

Chiefs star Mitch Schwartz’s wife blasts Harrison Butker for quoting Taylor Swift in ‘Handmaid’s Tale’ speech  Page Sixsource

Why the NFL admitted Taylor Swift’s Eras Tour was a factor in making 2024 team schedules — but not Chiefs – Sporting News

The NFL tends to do what it wants without letting other schedules get in the way. Just ask the three Saturday College Football Playoff games — scheduled…

Harrison Butker's Opinion on Taylor Swift, Travis Kelce Seen in New Light After Grad Speech – Parade Magazine

Harrison Butker’s Opinion on Taylor Swift, Travis Kelce Seen in New Light After Grad Speech  Parade Magazine Harrison Butker’s Words About Taylor Swift & Travis Kelce Might Be…

Leave a Reply

Your email address will not be published. Required fields are marked *