Taylor Swift Concert Film Helped Boost Average Ticket Prices By 50 Cents At Cinemark Theaters In Q4; CEO Sizes Up Streamers’ Role In Box Office Comeback Bid
deadline.comTaylor Swift’s Eras Tour concert-doc blockbuster drove a 50-cent increase in average ticket prices at Cinemark locations in the fourth quarter, a top exec at the movie theater circuit said.
Speaking to Wall Street analysts during the company’s quarterly earnings call Friday, CFO Melissa Thomas said that in addition to being able to charge more for tickets, Cinemark theaters also sold more concessions thanks to the Swifties. “Per-caps,” the industry term for concessions revenue per moviegoer, increased 14 cents during the quarter, Thomas said.
The concert film grossed nearly $181 million domestically and $81 million internationally, providing a much-needed injection of hope into an otherwise depleted year-end period.
Despite the welcome Swift bump, Cinemark’s quarterly results reflected the tepid box office environment created by the dual Hollywood strikes.
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