Cinema Stocks Rise as Blockbuster Releases Boost Box Office

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessCinema Stocks Rise as Blockbuster Releases Boost Box OfficeShares in movie theater operators climbed Monday after Spider-Man: Brand New Day and The Odyssey showed that a strong summer movie slate is driving audiences back to cinemas.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Shares in movie theater operators climbed Monday after Spider-Man: Brand New Day and The Odyssey showed that a strong summer movie slate is driving audiences back to cinemas.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAMC Entertainment rose as much as 7.4% as trading got underway Monday in New York before giving up most of those gains, while Marcus Corp. rose 5.8%, Cineplex Inc. rose 3.6%, IMAX rose 3.3% and Cinemark Holdings Inc. rose 4.2%. AMC said it generated the highest weekend revenue in its more than 100-year history. More than 10.2 million moviegoers attended AMC and Odeon locations from Wednesday to Sunday for the latest movie featuring the beloved superhero, played by Tom Holland. AMC also said it set company records for Dolby Cinema admissions and food-and-beverage revenue. The new Spider-Man film, distributed by Sony Pictures Entertainment and produced in partnership with Walt Disney Co.’s Marvel Studios, was the largest opening weekend of any film this year and the biggest debut in Hollywood history, bringing in $360 million in the US and Canada and $932 million worldwide. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“For AMC, this was a truly historic weekend,” Chief Executive Officer Adam Aron said in a statement. “It is a powerful and unmistakable reminder that audiences overwhelmingly embrace the theatrical experience when studios release films that audiences want to see and support them with strong marketing campaigns.” Spider-Man has proven to be a winning formula for Sony. The films based on the character have grossed billions of dollars since the early 2000s as the arachnid-like crime-stopper has become a crucial fixture in the Marvel Cinematic Universe, Hollywood’s most successful franchise in history. But Spidey isn’t the only blockbuster draw this summer. Christopher Nolan’s The Odyssey, which was released on July 17, made $124.5 million domestically in its opening weekend, and also helped drive demand for premium IMAX screenings. Demand for The Odyssey remains particularly strong across AMC’s more than 200 Imax screens globally, including in New York’s AMC Lincoln Square 13, which operated around-the-clock Imax 70mm showtimes Friday through Sunday for the third straight weekend, the company said. Cinemark also reported its biggest domestic weekend box office ever, noting Spider-Man: Brand New Day and the continued success of The Odyssey helped to drive record admissions and concession sales. Theater ticket revenue is up 15.2% this year compared with a year ago, according to Rentrak, which tracks box office data, and is on pace to possibly set a post-pandemic record. While blockbusters like Brand New Day are rare, the industry still has a few more potential hits teed up, including Dune: Part Three and a new Avengers, both coming on Dec. 18.—With assistance from Thomas Buckley.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.