RE: Not just all about the box office13 Apr 2022 17:11
For some clarity on possibly errors or missunderstandings earlier in thread and previous discussions.
Box Office Mojo numbers used is $ from ticket sales so we don't know actual attendance as such, but we know spend per person is running higher post COVID than pre COVID. Both in terms of ticket prices, premium experiences e.g. 4dx, 270o Superscreen etc AND from concessions spend (B.O.MOJO only ticket revenues).
Cineworld have given us details on revenues and their comparison is TICKETS SALES + CONCESSIONS v 2019 comparative.
So BOMOJO 2021/2022 Ticket sales v 2019 as % for US.
Cineworld 2021 Tickets plus concessions v 2019 as % in (brackets)
July 45% (50%)
Aug. 49% (54%)
Sept. 54% (60%)
Oct. 80% (90%)
Nov. 54% ( 56%)
Dec. 80% (88%)
Jan. 48% ( 54%)
Feb. 58% ( 64%)
March 60% ( * not yet comfirmed, following previous suggest 65 - 70%)
So Cineworld revenues are NOT significantly higher and very close to 2019 levels.
They are for most months WAY too low and short of required.
It's difficult to know the company's flow through of revenues to profits v 2019 as they have made savings but also taken on additional much more expensive debts.
The revenue mix will flow higher percentage through to bottom line than previous (currently at least) as a higher portion is coming from the much more lucrative concessions.
HOWEVER these are also due to much lower attendance levels still as a raw number going to be much lower than pre COVID times.
This is why company is aiming at something less than 100% of 2019 levels as it likely requires a bit less overall revenues to achieve a similar bottom line.
Surviving not increasing debt any more or by small amounts is NOT enough medium to long term so again this is why it has noted US c.85% and UK 90/95% was it!?
Each week, month, quarter, year we are not at those sort of levels reduces the time period to pay down debts and while it's not an aim of the company to pay debts completely, it IS a priority and indeed necessity to reduce current levels and pretty significantly.