Marcus Theatres Says Lighter Movie Slate Clipped Third Quarter, CEO Upbeat On ‘Avatar’, Upcoming Releases

Marcus, the fourth biggest U.S. movie chain, acknowledged a trickle of motion photography for the three months ended in September impacted earnings nonetheless had been offset by the recovered Marcus Lodge & Accommodations, which surpassed pre-pandemic revenues. Both businesses had been up from final year nonetheless theaters seen a slowdown from Q2 to Q3.

“This no longer most attention-grabbing highlights the energy of the restoration in our lodges and resorts division nonetheless underscores the worth of our assorted enterprise model. As expected, Marcus Theatres turned into impacted by a lighter film slate all over the quarter; nonetheless, customers persevered to illustrate their desire to come out to the motion photography for several motion photography that delivered huge performances. We are thinking relating to the everyday of most up-to-date motion photography releasing within the arriving months, with anticipation building for the debut of Avatar: The Intention of Water, the sequel to Avatar, the best seemingly grossing film of all time,” acknowledged CEO Greg Marcus.

Shares had been up a small in a down market this morning.

The Milwaukee-based totally mostly company seen total revenue soar 26% to $183.7 million with web revenue rising to $3.3 million from $1.8 million from the year earlier quarter.

Gross sales from Q3 theater admissions of $49.4 million and concessions of $44.7 million had been up from, respectively $38.2 and $35 million in 2021. However each fell from $63 million and $58 million, respectively, within the earlier 2nd quarter. Imax earlier this week also famed an affect from fewer new releases final quarter, as most chains seemingly will.

Still, “No topic a softer leisurely-summer season film slate, audiences persevered to illustrate their desire for moviegoing with huge theatrical performances from Minions: The Upward push of GruThor: Fancy and Grunt, Elvis and a long theatrical bolt from excessive-flying Top Gun: Maverick,” Marcus acknowledged. The establish the Crawdads Direct and Nope we also top motion photography.

Ticket Gramz, president of Marcus Theatres, identified that every of them debuted with an outlandish theatrical window “continuing to illustrate the importance of theatres in driving excitement and sales for motion photography of all sorts” and that “customers are wanting to glimpse each blockbusters and smaller motion photography on the massive veil.”

The scorching fourth quarter has viewed a boost from Gloomy AdamSmile and Halloween Ends — with Avatar: The Intention of Water, Gloomy Panther: Wakanda Forever, Distinctive World, Devotion, The Fabelmans, Puss in Boots:  The Remaining Need and Babylon teed up.

Marcus acknowledged its loyalty program, Magical Movie Rewards, hit 5 million members, adding about 15,000 new members a month.

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