Boxoffice Pro Q1 2021

industry GIANTS OF EXHIBITION
SPONSOR
PROFILE
Stan Ruszkowski
President
The Boxoffice Company
3
CINEMARK
Location: Plano, TX
Founded: 1984
Screens: 4.517 ↘ -2%
Locations: 331 ↘ -4%
Cinemark entered 2020 from a period
of growth, with 2019 marking its fifth
consecutive year of record revenues.
Covid-19, obviously, sent the chain in a
different direction. On March 18, Cinemark
closed all its U.S. locations in response
to the pandemic. June 19 saw the chain
embark on the first part of its phased
reopening, which began with five theaters
in the Dallas-Fort Worth area. Initial plans
to have all of Cinemark’s U.S. theaters open
by July 10 were pushed back as infection
rates continued to rise and the theatrical
debut of major tentpoles continued to
be delayed. The main part of Cinemark’s
summer reopening effort took place
throughout August, leading up to the
September 3 release of Warner Bros.’ Tenet.
With 2020 offering up an extremely
limited slate of studio tentpoles, starting
in July Cinemark turned to private
cinema rentals, driving customer
awareness and interest with giveaways
tied to Halloween, Thanksgiving, and
Christmas. By December 9, more than 1.3
million moviegoers had participated in
one of Cinemark’s 100,000 Private Watch
Parties. Private cinema rentals accounted
for 17 percent of Cinemark’s Q3 2020
U.S. admissions revenues. In Cinemark’s
Q3 2020 investor call, CEO Mark Zoradi
underscored the importance of private
rentals as a way for customers who had
not been to the movies since the start of
the pandemic to experience Cinemark’s
enhanced safety and cleanliness
procedures firsthand.
November saw Cinemark join AMC in
signing its own agreement with Universal
to distribute the studio’s films under a
shortened theatrical exclusivity window.
Under Cinemark’s “Dynamic Window”
arrangement, Universal and Focus titles
will have five weekends (31 days) of
theatrical exclusivity if they open to $50M,
or three weekends (17 days) if they do not;
certain films will receive a five-weekend
window regardless.
Cinemark’s deal with Universal
extends over multiple years, echoing
Cinemark CEO Mark Zoradi’s belief
that the shifting nature of theatrical
exclusivity will continue past the
cessation of the Covid-19 pandemic.
A difficult year for our entire industry
was also one of unprecedented
innovation and creativity, as
movie theaters found new ways
to engage with their audiences.
From mobile ordering to take-out
concessions, and even at-home
viewing experiences and private
watch parties—exhibitors have been
at the heart of finding new ways to
redefine the moviegoing experience.
This year’s Giants of Exhibition list
is a reflection of the resilience and
commitment to innovation of our
entire industry. We are honored
to count many of these circuits as
partners and clients of The Boxoffice
Company.
We thank you for your trust and
leadership during this difficult time.
Your insights and collaborations
have helped us reinvent our
focus on solutions that can help
exhibitors get through the pandemic
and bounce back faster once
their cinemas reopen. Our latest
projects include contactless digital
ticketing and concessions; customer
awareness through SEO, emailing,
and social media; and co-watching
streaming services.
We look forward to getting out of
this crisis together stronger, offering
a better customer experience than
ever before.
24 Q1 2021