News Column

007's Mission Makes Box Office Happier

Nov. 15, 2012

The world's most famous spy helped cinema chain Cineworld to shake off a poor summer as the public gaze was focused on the London Olympics.

The operator, which has 80 cinemas, said the latest James Bond release Skyfall had performed exceptionally well, keeping the company on track to meet forecasts for the financial year.

As well as Skyfall, which grossed more than [pounds]60m nationally in its first two weeks of showing, Cineworld has high hopes for the final instalment of the vampire romance Twilight and The Hobbit.

In the 19 weeks to November 8, revenues were 1.4 per cent lower than a year ago as the Olympics and lack of major releases during the period reduced admissions by 4.1 per cent. An increase in average ticket prices of four per cent and an improvement in spend per person offset some of the decline.

Screen advertising sales were flat compared with the same period a year earlier while there was lower demand for 3D glasses due to the release of fewer 3D films.

Cineworld said in a trading update: "The film line up for the remainder of the fourth quarter is promising, with strong box office performances anticipated from the key titles."

Source: (C) 2012 The Northern Echo

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