Everyman posts five-fold drop in losses to £4.3m but Oppenheimer effect offers hope September 27, 2023 British cinema chain Everyman has reported a fivefold increase in losses due to weak ticket sales. Everyman, which has 41 cinemas, posted pre-tax losses of £4.3m for the first six months of the year, five times the £798k lost in the same period last year. Shares dipped over one per cent on Wednesday morning. Admission [...]
Barbie and Oppenheimer gives Everyman a £11m summer boost August 18, 2023 Everyman reported nearly £11m in revenues after Barbie and Oppenheimer – together known as ‘Barbenheimer’ – drew in record numbers of crowds. The boujee cinema chain said the lucrative film pairing, released in the final week of July, helped the group rake in a revenue of £10.6m in the month of July, up from £7.1m [...]
A whole new Cineworld: Cinema chain back from bankruptcy with ex-WarnerMedia boss on board August 1, 2023 Cineworld has emerged from bankruptcy and added Ann Sarnoff, the former boss of WarnerMedia Studios, to its board. After filing for bankruptcy in the US last September, the embattled cinema chain has come out the other side having slashed its debt pile. The firm said today that the ‘New Cineworld’ has cut its debt by [...]
Barbenheimer lights up cinemas but strikes cast shadow on industry’s future July 24, 2023 Barbie and Oppenheimer, the pop culture power movie duo nicknamed Barbenheimer, had a triumphant opening weekend, reviving cinemas to their pre-pandemic glory – if only for a fleeting weekend. Vue cinemas witnessed their biggest weekend since 2019, raking in nearly £30m at the UK box office according to the UK Cinema Association, as over 500,000 [...]
Cineworld can’t find buyer for operations outside UK, US and Ireland as creditors set to take over April 18, 2023 Cineworld will halt efforts to sell its business outside of the UK, US, and Ireland after it failed to find a buyer. The London-listed firm — which filed for bankruptcy in the US last August — said that it had received offers for its “Rest of World” business but they “did not meet the value [...]
Top Gun: Maverick and pricier tickets help Everyman cinemas post 75 per cent boom in earnings January 23, 2023 Blockbuster movie Top Gun: Maverick helped boost Everyman Media’s revenues by 62 per cent as Brits continue to embrace cinema going as an affordable luxury. The company, which has 14 of its 38 cinemas in greater London, announced its annual update to December, reporting revenue of £79.7m which is up from the previous covid-impacted year [...]
Hard-hit cinemas bank on Avatar December 14, 2022 Analysts have warned against cinema chains pinning too much hope on upcoming blockbusters like Avatar sequel, which is due to drop this week. Although Imax’s chief exec said the James Cameron’s sci-fi movie had “one of the highest pre-sale levels we’ve ever seen”, big screens may need to do more to turn the tide – [...]
Lenders prop up Cineworld with £680m cash injection September 10, 2022 Cineworld has secured $785m (£677.4m) from existing lenders, who have sought to prop up the ailing retailer. The cinema chain officially filed for bankruptcy in the US earlier this week, having announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing, sending shares down 25 per cent. The company, which operates 747 cinemas [...]
Cineworld share price plunges over 50 per cent amid bankruptcy reports August 19, 2022 Cineworld’s share price has plunged more than 53 per cent today amid reports it is filing for bankruptcy. Investors bailed out of the stock, leaving it with a share price of 4.5p a piece. However, shareholders have been stepping back for more than a year. The cinema chain had been hit particularly hard by successive [...]
Vue cuts valuation to £650m after July’s restructuring deal August 7, 2022 Vue International has cut its valuation to £650m following a £1bn restructuring deal announced last month. The UK-headquartered cinema chain said in July it was considering a £1bn takeover from lenders which would see its former majority shareholders ousted, the Sunday Times reported. As part of the takeover, the cinema chain also negotiated its exit [...]