Cineworld gets a box office kicking during 2014 World Cup
The biggest player in the UK cinema market, Cineworld, has seen its UK box office revenues fall by 0.6 per cent in the first six months of the year.
The cinema group said yesterday the slight fall in sales was largely due to the popularity of the World Cup, which began in early June.
Distributors made the decision to hold back some of the big summer releases until after the footballing event finished, dampening cinema takings.
Overall, on a pro-forma basis, box office revenues increased in the 26 week period by 1.5 per cent and admissions were up by one per cent.
A typical filmgoer spent 2.6 per cent more on products like popcorn and drinks, bolstered by the introduction of Starbucks franchises to the group’s cinemas.
Cineworld said in its trading update: “In the final weeks of the half, as expected, admissions in certain countries have been lower due to the World Cup when compared to the same prior year period, which has contributed to a decline in box office revenues; however there is a strong film line-up during the third and fourth quarters which is expected to mitigate this.
“New releases at the start of the third quarter include the latest title from the Transformers franchise Transformers: Age of Extinction and the new Marvel film Guardians of the Galaxy,” it added.
The group saw strong box office performances from the Lego Movie during this 26 week period, as well as X-Men: Days of Future Past.
Cineworld shares closed up 2.7 per cent at 346p.
|TOP FOUR GROSSING UK FILMS IN APRIL AND MAY 2014|
|Film||Distributor||Released||Total Box Office|
|The Amazing Spider-Man 2||Sony||18/04/2014||£24,022,467|
|X-Men: Days of Future Past||20th Century Fox||25/05/2014||£21,314,512|