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We were at $307,074,987 when I checked yesterday, box office mojo now showing $417,459,257. It has been a mega weekend. 80-90% of pre-pandemic is looking very likely this month imo. We are now standing at 53.4%.
Dune has already achieved $129.3m in global box office without a US or a UK release, both of which are coming this week (or tomorrow if you’re an unlimited card holder).
Sp remains at 66.70, I have never seen anything more undervalued imo. One catalyst and we are free and flying, if we can get a success at the court case and a favourable trading update by the end of the year this is an easy 90-100p+ by EOY. Everything imo, all the best for this new week everyone, we are in this together (except if you’re pawelbak who’s waiting for 55) :D
Hello FunInvestor.
Indeed, one person can only view one film at one time, but they can also return to the cinema afterwards to watch the same film again or a different film.
What the numbers show imo is that we are having more people coming into the cinema than pre-pandemic, which has also been reflected in what I myself as well as many others on this board have seen at their local cinemas.
Indeed the progress is not in a straight line, however what my initial intention was from the post was to show that in order to have 90% of box office revenue you don’t necessarily need 90% of attendance figures, and as a result with a lot more movies still in the pipeline we could see that base case scenario being met earlier than what a lot of people may be thinking.
Have yourself a fantastic weekend :)
Good day to you too Mountainous.
I would heavily caution on the averages and from that extrapolating certain conclusions.
Few things:
If you are going to the cinema with a choice of 60 or 200 movies you can only see one at a time regardless.
The numbers going are not by any means likely to increase in a straight line with extra movies.
The movies that have been released are largely speaking skewed more to the bigger movies than would "normally" be the case.
So, we are improving (UK especially is looking strong) USA showing signs (early ones) of also catching up, but doubling of movies released I do not see us having a doubling at box office totals.
We are not in control of how many are released either and so far they don't seem to be growing at pace.
Onwards we go with improving signs though :-)
Good morning all, hope you’re keeping well.
Full September Box Office: $366,956,906
First 15 days of October Box Office: $307,074,987
First 15 days of October and we are already nearly on par with the full month of October.
Number of releases in October 2019: 217 ($781,640,754 box office)
Number of releases in October 2021 so far: 60 ($307,074,987 box office)
We are achieving c. 40% of 2019 box office revenue with just 27.6% of 2019 release numbers in October so far. In my opinion, this shows that we are in fact seeing an increase in the number of people going to the cinemas and the frequency of which they come. Therefore, all of the increase in demand that we are seeing for ourselves in the cinemas is indeed translating itself to box office revenue. What this means for us (again imo) is that we may not necessarily need to see 90% of box office attendance to see 90% of box office revenue, thanks to the increased frequency of people visiting the cinema. Combine this with the increase in ticket prices, increased retail spend per customer, as well as the cost-saving measures that the company has implemented and I most certainly think we are going to see 90% of 2019 revenue a lot quicker than what people may be thinking.
Have a fantastic Saturday all :)