Cinemark Announces New Agreements with All Five Major Studio Partners to Exhibit Films Theatrically
Agreements secure a consistent supply of content and demonstrate a shared commitment to the theatrical moviegoing experience
PLANO, Texas--(BUSINESS WIRE)-- Cinemark Holdings, Inc., one of the world’s largest and most influential movie theatre companies, today announced it has reached agreements to theatrically showcase films from all five major studio partners across its U.S. theatres. This announcement builds upon the exhibitor’s November agreement with Universal Filmed Entertainment Group and includes agreements with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures and Sony Pictures Entertainment. Collectively, these agreements secure a consistent supply of content and demonstrate a shared commitment to offering consumers the ultimate movie-viewing experience, with compelling content exhibited within the theatrical environment.
“Cinemark is thrilled to have reached new agreements with our major studio partners, and we are eager to continue providing movie fans an immersive, larger-than-life cinematic environment to see major upcoming films, ranging from the biggest blockbusters to specialty fare to family-friendly content,” said Cinemark CEO Mark Zoradi. “In our ongoing efforts to maximize attendance and box office during the pandemic and beyond, our goal is to provide the widest range of content with terms that are in the best long-term interests of Cinemark, our studio partners and moviegoers. We are pleased with these recent developments and are confident we are taking positive steps toward reigniting theatrical exhibition and evolving the industry for a post-pandemic landscape.”
Each deal has unique attributes specific to the individual studio that mutually benefits both parties. The full terms of the deals are confidential and are not being disclosed.
About Cinemark Holdings, Inc.:
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 523 theatres representing 5,872 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/
Source: Cinemark Holdings, Inc.
Released May 7, 2021