Cinemark Theatres Has Record Weekend, Calls Future of Movie Theaters into Question

BATON ROUGE, La. (WAFB) – Cinemark achieved its highest summer weekend opening box office ever a few days ago. The release of “Deadpool & Wolverine” took the box office by storm nationwide, taking in more than $210 million. The film was named the highest July opening ever and the highest opening ever for an R-rated film. The consumer interest only goes to show that there is still a need for the unique experiences that only movie theaters can provide. “Twisters,” “Despicable Me 4” and “Inside Out 2” also contributed to a burst of interest during what has been a busy and successful summer movie release season.

Over the weekend, Cinemark also achieved its highest concession revenue since the COVID pandemic.

However, cinemas still need some more support to recover from the setbacks and setbacks that the pandemic brought in 2020. Like almost every other sector in the world, cinemas were negatively affected by the global lockdown that lasted almost two years.

As a result, technology companies like Apple and Disney brought the movie-watching experience to home audiences in a much more convenient and user-friendly way. Streaming services created subscription memberships that allowed audiences to watch movies right from the comfort of their living rooms, without having to pay for the movies themselves, just the monthly membership fee. And in some cases, movies that premiered in theaters could be watched from home the same day.

This has contributed to a 21 percent drop in ticket sales since 2020, but the recent success of films this summer and movies premiering at major studios will still make a difference.

Cinemark and its 500 theaters across the country would certainly appreciate more box office success to boost the other economics the big screens generate, such as concessions, merchandise and tourism.

Click here to report a typo.

Copyright 2024 WAFB. All rights reserved.