Blockbusters boost sales at Cineworld
Moviegoers flocking to blockbusters like Mamma Mia: Here We Go Again! and Incredibles 2 helped boost sales at Cineworld last year.
A record 308 million people visited Cineworld’s cinemas in 2018, generating international revenue growth of 7.2 per cent.
The world’s second-largest cinema chain said it is on track to deliver a performance for the year in line with its current expectations.
Cineworld operates the multiplex at Bentley Bridge in Wednesfield as well as cinemas in Telford, Shrewsbury, Birmingham Broad Street and at the NEC.
Group admissions increased by 2.6 per cent compared with the prior year to reach 308 million. The growth was driven by a strong ticket sales in the US, the positive impact of the ongoing refurbishment programme and the continued roll-out of our premium formats.
UK & Ireland revenue grew by three per cent. As expected, revenue growth was impacted by the strength of films in 2017, particularly Star Wars.
The highest grossing films for 2018 in the UK were Avengers: Infinity War, Mamma Mia: Here We Go Again! and Incredibles 2.
US revenue grew by 8.6 per cent, driven by a record year for the box office.
The strength in the US market was driven by the success of Black Panther, Avengers: Infinity War and Incredibles 2.
During 2018 the group continued to expand and opened 13 new sites – six in the US, six in the UK and one in Romania.
In line with the group’s strategy, the existing estate was improved by an active refurbishment programme with four sites completed in the UK.
Fourteen of the group’s sites were closed – 11 in the US, one in the UK, two elsewhere. The total number of sites in the group as of December 31 was 790 with 9,518 screens.
Investment in the latest technology continues to be a key pillar of the group’s strategy.
During 2018, the group announced new agreements with IMAX, 4DX and ScreenX and plan to install a total of 55 new IMAX Laser projectors, 80 new 4DX screens in the US and 100 new ScreenX auditoriums. In 2018, 19 ScreenX and 9 4DX were opened across the estate.
Last month, Telford Cineworld opened a new 4DX screen.
The group's full year results will be announced on March 14.
New films to be released this year include The LEGO Movie 2, Captain Marvel, Aladdin, Toy Story 4, Frozen 2 and Star Wars: Episode IX.