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This statistic highlights Cinemark’s Revenue Breakdown by Services, split across Admissions Revenue, Concession Revenue, Screen advertising, Screen rental and Promotional revenues, and Other Revenues, reported on a quarterly basis from Q1 2016 onwards.
Cinemark’s revenue experienced a sharp dip in Q2 2020 and has been on a gradual rise since then. Cinemark’s total revenue grew from $294.65 million in Q2 2021 to $434.82 million in Q3 2021, making a 47.6% increase on a quarter-on-quarter basis. It also increased by 1,125.5% on a year-on-year basis, when compared to $35.48 million in Q3 2020.
The highest revenue of Cinemark stands at $957.75 million in Q2 2019 while the lowest has been $8.97 million in Q2 2020. It can be inferred that this sudden change and decrease in total revenues was caused due to COVID-19 and the restrictions that came along with it.
Cinemark’s Revenue is further bifurcated into the following services:
|Segments||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Screen advertising, screen rental and promotional revenues||$9.74||$15.90||$22.90||5.30%|
(All figures in millions, except percentages)
Admissions revenue is recognized by the Company when the showtime for a purchased movie ticket has passed. The Admissions revenue is an important segment as it contributes the maximum share to the total revenue, accounting for 51.9% of the total revenue generated in Q3 2021. It has increased from $153.48 million in Q2 2021 to $225.46 million in Q3 2021, making an increment of 46.7% quarterly. It also witnessed a rise of 1,413.2% yearly, when compared to $14.90 million in Q3 2020.
The Concession revenue is recognized by the Company when products are sold to the consumer. It is the second-largest contributor of revenue, accounting for 37.8% of the total revenue in Q3 2021. It has increased from $109.81 million in Q2 2021 to $164.26 million in Q3 2021, up to 49.6% on a quarterly basis. It witnessed an increment of 1,701.1% yearly, when compared to $9.12 million in Q3 2020.
Screen advertising, screen rental, and promotional revenues
The screen advertising, screen rental, and promotional revenue segment contributes 5.3% to the total revenue generated by the company in Q3 2021, amounting to $22.90 million. It increased by 44% on a quarterly basis, from $15.90 million in Q2 2021 to $22.90 million in Q3 2021. On a yearly basis, it rose by 135.1%, as compared to $9.74 million in Q3 2020.
Other revenues consist of studio trailer placements, transactional fees, and deferred revenues. Deferred revenues are proceeds from the sale of gift cards and discounted ticket vouchers. This segment contributes 5.1% to the total revenue in Q3 2021. It witnessed an increase of 43.6% on a quarterly basis, from $15.46 million in Q2 2021 to $22.20 million in Q3 2021. On a year-on-year basis, it saw an increment of 1,190.7%, when compared to $1.72 million in Q3 2020.
Cinemark Holdings Inc. is a leader and one of the most geographically diverse operators in the motion picture exhibition industry. It has theatres in various countries such as United Nations, Brazil, Argentina, and many more. It also has modern, high-quality theatres with multiple platforms and provides a preferred destination for movie-goers. The primary objective for the company has been to attract and expand audiences to maximize attendance and box office, and then pursue monetization opportunities to capture ancillary revenue. It focused on providing an extraordinary guest experience, investing in its core circuit and continuing to grow organically to accomplish these goals. While the long-term strategies remain consistent, for the near term it has shifted its focus to cash preservation and liquidity, closely managing costs and restructuring its operations and teams to be more efficient, and keeping its guests and employees safe and healthy. It expects this focus to continue until it fully recovers from the impact of the COVID-19 pandemic.
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