Movie Theater Chains Tout Revenue Records After ‘Deadpool & Wolverine’ Bow

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Movie Theater Chains Tout Revenue Records After ‘Deadpool & Wolverine’ Bow

As a long-time gamer and avid moviegoer, I couldn’t help but feel elated when I heard about the record-breaking opening weekend of “Deadpool & Wolverine” at the domestic box office. The excitement was palpable in the air, not just for fans like me, but also for the movie industry giants AMC Theatres, Cinemark, and Imax.

Theatrical movie giants AMC Theatres, Cinemark and Imax were all cheers on Monday after Shawn Levy’s Deadpool & Wolverine opened to a record-shattering $205 million at the domestic box office on the weekend.

Last weekend, AMC reported breaking records in the US and international markets. In the US, they welcomed over 6 million visitors and earned substantial revenue from ticket sales. Simultaneously, at their Odeon Cinemas worldwide, they also recorded impressive numbers with over 6 million moviegoers in attendance and significant income from admissions.

As a passionate gamer and moviegoer, I’m thrilled to share some exciting news! According to AMC Theatres CEO Adam Aron, during the opening weekend of “Deadpool & Wolverine,” we witnessed the highest attendance and revenue in rated-R movie history at AMC. Moreover, that same July weekend in 2021 brought about the highest food and beverage sales in the United States for AMC since the pre-pandemic year of 2019. What a fantastic turnout!

On Monday, AMC Theatres’ stock price rose by 5 cents, or 1%, reaching $5.23. This uptick occurred despite lingering concerns about the company’s substantial debt and its capacity to weather both the pandemic and the Hollywood movie industry’s disruptions caused by last year’s dual actors and writers strikes.

In the film “Deadpool & Wolverine,” also known as “X-Men Origins: Wolverine Unleashed” or “The Merc with a Mouth and the Logan Legends,” premium large-format screens accounted for an impressive 18% of the total box office revenue. This installment marks Ryan Reynolds’ return as the titular character, Deadpool (Wade Wilson), while introducing Hugh Jackman to the franchise as the iconic Wolverine (Logan). Imax reported a remarkable earnings of $36.5 million in ticket sales from these screens, which stands as a new July and R-rated record for the movie technology company.

“Deadpool and Wolverine’s release at Imax smashed opening weekend records for the third quarter, boosting our performance and fueling excitement for an amazing lineup coming up in the next few years. I, Richard Gelfond, CEO of Imax, made this announcement, causing a 3% surge in our share price to $20.62 at the market open on Monday.”

As a huge fan, I can’t help but get excited about “Deadpool & Wolverine” being the first R-rated film produced by Disney through Marvel Studio headed by Kevin Feige. Exhibitors are also eagerly anticipating more franchises with such mature content from this powerhouse collaboration.

“Sean Gamble, Cinemark’s CEO, announced with great excitement that the release of Deadpool & Wolverine brought about Cinemark’s most successful summer opening weekend ever, achieved remarkable earnings in premium formats, and resulted in our highest concession sales since the pandemic.”

The screening of Deadpool & Wolverine at Cinemark led to their biggest opening weekends for Cinemark XD and theaters with D-BOX seats, marking significant growth for the company. As a result, Cinemark’s stock price increased by 50 cents or approximately 2.3% to $22.43 during early morning trading.

During the grand opening weekend for Deadpool & Wolverine, exhibition giants grapple with the repercussions of last year’s Hollywood strikes and the ongoing pandemic on cinema attendance. Major theater chains have been hit hard, losing confidence due to closures during the pandemic and the disruptions caused by the 2021 Los Angeles writers and actors strikes, which affected their film lineups.

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2024-07-29 17:24