Marcus Theatres, the fourth largest movie theater chain in the U.S. following AMC, Regal and Cinemark, disclosed Thursday that attendance at its locations grew about 7 percent during its third quarter ruled by Marvel’s Deadpool & Wolverine compared to a year earlier period.
The theater chain, run by president Mark A. Gramz, also said that its average ticket price increased 2.6 percent and average concession revenues per person increased 7.9 percent during quarter as compared to a year ago. Marcus said that in its fiscal quarter it saw $68 million in theatre admissions revenue and an additional $62 million in theatre concessions while theater and concessions costs and operations cost $92 million.
“While the WGA and SAG-AFTRA strikes impacted results for the first half of the year, we are pleased that the lingering effects seem to be further in the rearview mirror as demonstrated by the significant improvements in our third quarter fiscal 2024 results,” Gramz stated.
In addition to Deadpool, the chain said its biggest movies in the quarter were Universal/Illumination’s Despicable Me 4, Warner Bros.’ Twisters, Disney/Pixar’s Inside Out 2 and Warners’ Beetlejuice Beetlejuice. The chain said total revenues amounted to $143.8 million, a 13.6 percent rise compared to the third quarter of 2023.
Marcus disclosed earnings at the same time as its rival Cinemark Theatres, which saw revenue of $921.8 million in the latest quarter and an uptick of 5.4 percent from the comparable year ago frame. Cinemark, led by CEO Sean Gamble, said its average ticket price amounted to $7.62, with concession revenue per patron coming in at $6.08.
Both chains reported a day after big screen theater tech giant Imax disclosed revenue of $91.5 million for the latest financial quarter, down 12 percent from the year-ago period when Oppenheimer made its run in theaters. The Richard Gelfond-run firm optimistically forecast it will deliver over $1.2 billion in global box office in 2025.
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