Magazine article Screen International

Cineworld Box Office Up 4%

Magazine article Screen International

Cineworld Box Office Up 4%

Article excerpt

Exhibitor Cineworld is due to open four more cinemas following an increase in box office takings in 2012.

Cineworld box office was up 3.9% to £251.6m compared to 2011, according to the company's financial statement for 2012.

Admissions dropped 1% year on year to 47.8m but the 5% hike in average ticket price per admission to £5.26 (2011: £5.01) and a higher average retail spend per person at £1.72 (2011: £1.69) contributed to the increase in box office.

The exhibitor has a box office market share of 24.7% in the UK.

The company is on track to open four new cinemas:

a nine screen cinema in Wembley;

a six screen cinema in St Neots;

a new ten screen cinema replacing its existing cinema in Gloucester;

it will take over the IMAX cinema at the Glasgow Science Centre.

Food and drink sales are the second most important source of revenue for Cineworld representing 23% of total revenues.

Total retail revenues were marginally better at £82.3m (2011: £81.6m) and net retail spend per person improved 1.8% in the year to £1.72 (2011: £1.69). However, "other income" fell 8.2% to £22.3m (2011: £24.3m).

The largest single element of Other Income is screen advertising revenue. According to the exhibitor the drop is due to the depression in the advertising industry, the" softening" of 3D glasses sales and the removal of booking fees. …

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