Cinemark and Cinépolis dominate movie theaters in Brazil

Cinemark and Cinépolis dominated movie theaters in Brazil, according to Cinemark data corresponding to before the sector closed due to the pandemic.

Cinemark’s market share was then 27%, followed by Cinépolis (15%), Kinoplex (10%), Araujo (6%), UCI (5%) and others (37%).

To this day, according to Cinemark, international markets continue to be a major component of total box office revenue generated by Hollywood films, accounting for $ 30.8 billion, or approximately 73%, of total global box office revenue. 2019, with data from the MPAA.

To date, 2020 industry data is not yet available.

In general, cinemas in international markets continue to reopen as local restrictions are revised.

At the same time, movie release schedules are expected to follow those in the United States in line with previous years.

Cinemark

This company believes that the contribution of markets outside of North America to global box office revenues will continue to be significant.

The outbreak of the Covid-19 pandemic has had an unprecedented impact on the world and the movie showing industry.

As a film exhibitor that operates spaces where customers gather closely together, the company has been and continues to be significantly impacted.

In the initial outbreak of the pandemic, to comply with government mandates, Cinemark temporarily closed all its cinemas in the United States and Latin America as of March 17, 2020 and March 18, 2020, respectively.

Along with the temporary closure of its theaters in March 2020, the company implemented temporary staff and salary reductions, limited and non-essential capital and operating expenses, and negotiated modified times and / or reduced contractual payments with owners and other vendors. important until the reopening of movie theaters.

In addition, the Company suspended its quarterly dividend.