Cinemark thrives as other theater chains struggle

Cinemark, the third-largest US theater chain, is outperforming its competitors AMC and Regal. It has seen a remarkable 80% stock increase this year, reaching its highest level post-pandemic.

The company reported $734.2 million in second-quarter revenue, surpassing expectations, although it is a drop from last year. Cinemark has 308 theaters and approximately 4,300 screens across the United States.

Despite closing 50 locations since 2019, Cinemark’s strategy of low prices, upgraded amenities like heated recliners and improved food offerings has successfully attracted moviegoers.

Cinemark’s average ticket price is $7.32 lower than AMC’s $11.29, and its concession sales set a record last year, highlighting its competitive edge.

Notably, theater chains like AMC and Regal have struggled more than Cinemark since the pandemic. AMC closed over 100 locations, while Regal filed for bankruptcy protection in 2022, closing down 140 theaters.