‘Barbenheimer’ increase reverses first-half decline at cinema chain Everyman

Aug 19, 2023 at 7:25 AM

igh-end cinema chain Everyman’s income and profits fell within the first half of the yr, however it mentioned the joint releases of Barbie and Oppenheimer on 21 July boosted gross sales and reveals “cinema remains as relevant as ever”.

The cinema – recognized for its snug seats and meals choices like pizza and sizzling honey halloumi – introduced in income of £38.3 million within the six months to 30 June, down barely from 2022. Profit, in the meantime, fell by 22.7% to £5.8 million.

But issues pickwed up in July, which the business put right down to ‘Barbenheimer’, which drove a document week for admissions. Revenue for the month got here to £10.6 million, whereas revenue doubled July 2022’s whole at £2.6 million.

With these figures included, income for the primary seven months of the yr is up barely and revenue near flat.

CEO Alex Scrimgeour mentioned: “Everyman remains an affordable and popular choice for consumers. The record week of admissions we saw in July demonstrates both the value of original content, and the fact that cinema remains as relevant as ever. Alongside this, we continue to see increasing demand for our high-quality food and beverage offering. The all-encompassing Everyman experience leaves us very well placed to satisfy consumer demand for premium entertainment.

None of what we do would be possible without the incredible Everyman team both in our venues and head office. I would like to take this opportunity to thank them all for their hard work and willingness to go that extra mile for our customers. We have added three carefully selected new venues to our estate and we look forward to building on the significant momentum we have seen in July and August.”