2024’s December blockbuster box office success can be attributed to the highly anticipated releases of movies such as Moana 2 and Wicked, according to Cineplex.
Despite a warning from the large Canadian film exhibition company that Thanksgiving leftovers and additional year-end releases kept Cineplex below its pre-pandemic box office income in December 2019, on Monday, they reported that their box office revenue for December 2024 had significantly increased to $64.8 million, compared to $51.8 million in December 2023.
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The big Canadian film exhibition company had warned earlier about the impact of Thanksgiving holdovers and year-end titles on Cineplex’s earnings, keeping them below their pre-pandemic box office revenue in December 2019. However, they reported a significant increase in their box office revenue for December 2024, which reached $64.8 million compared to $51.8 million in December 2023.
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The large Canadian film exhibition company had sounded a note of caution earlier about the effect of Thanksgiving leftovers and year-end releases on Cineplex’s revenue, as it kept them below their pre-pandemic box office income in December 2019. But, in a positive development, they reported that their box office revenue for December 2024 had increased significantly to $64.8 million, compared to $51.8 million in December 2023.
This month, the effects of longevity were evident on eagerly awaited films such as “Wicked” and “Moana 2”, and the ongoing prosperity of multicultural shows in our cinemas that mirror Canada’s varied population, according to Ellis Jacob, president and CEO of Cineplex. He made this statement.
By December 2024, Cineplex had screened both the Cantonese film titled The Last Dance and the Indian Telugu action drama Pushpa: The Rule – Part 2. However, Canadian box office sales for Cineplex were still lagging behind the $74.9 million pre-pandemic revenue recorded in December 2019.
Cineplex announced that they profited significantly as “Wicked” broke the record for the highest-earning movie of all time based on a Broadway musical, and “Moana 2” ranked among the top ten highest-grossing domestic animated films ever, even surpassing the initial earnings of “Moana.
In December 2024, Cineplex’s total earnings from ticket sales and concessions amounted to $112 million, which was 129% of what they made the previous year. Moreover, this figure represents a record high for concession spending per customer at approximately $9.34.
Despite Canadians thronging to their local cinemas for the U.S. Thanksgiving film releases, Cineplex and other significant North American cinema chains are aiming to demonstrate a more reliable Hollywood box office pattern to investors. This is due to a series of studio blockbusters not performing as expected, coupled with the ongoing transformation in consumer movie-watching habits in the era of streaming, which has intensified post-pandemic.
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2025-01-13 18:24