Cineworld sees Spider-Man coffers increase as fighting cables claws back to the audience with an infectious hit


Cineworld sees Spider-Man coffers increase as fighting cables claws back to the audience with an infectious hit

  • Spider-Man: No Way Home grossed more than $ 1.5 billion at the box office
  • The delay in the release of Top Gun had a gradual recovery after restart
  • Cineworld generated positive cash flow in Q4; 3% of shares in the initial transaction


Despite the fear that the success of the recent Spider-Man movie would dwindle Omikron’s attendance in December, the fight series helped boost coffers at Cineworld.

Spider-Man: No Way Home, starring Tom Holland and Zendaya, grossed more than $ 1.5 billion at the box office, making it the first film since the epidemic to launch.

Investors are pleased with the update as Cineworld shares rose 3.2 per cent to 40.05p in early trading, but returned to flat trading today.

Spider-Man: No Way Home, starring Tom Holland and Zendaya, grossed over $ 1.5bn

The world’s second-largest chain, with 9,188 screens in 10 countries, including the US and the UK, said global box office revenues in December rose 90 percent to pre-epidemic levels.

That was an improvement from November, Top Gun: The Maverick Release Delays’ May 2022 ‘Impacted Recovery After Rebounding’, Revenues Decreased by 56%.

After two years of hard work, the cinema industry has begun to recover, cineworld said, creating a positive cash flow in the fourth quarter after easing global lockdown restrictions.

The group said other ‘record-breaking’ films included Shang-Chi and Legend of the Ten Rings, Venom, Black Widow, Dune, Free Guy, Eternals and No Time to Die.

Chief executive Mookie Gradinger said there were ‘challenges ahead’ of Kovid, but the series should benefit from ‘highly anticipated’ films throughout 2022.

These include The Batman, Jurassic World: Dominion, Mission: Impossible 7, Avatar 2 and others.

‘We are delighted to see a strong demand among audiences for cinematic experiences supported by a slate of high-quality and high-performance films,’ said Gredinger.

‘It shows how fans continue to choose the unrivaled theatrical experience.

‘We have seen a recovery in theater attendance across our geography, which has generated positive cash flow performance for Q4.’

Popular: Another 'record-breaking' movie dune that helped boost coffers

Popular: Another ‘record-breaking’ movie dune that helped boost coffers

This is a much-needed solution for investors in mid-cap Cineworld, whose shares have fallen by more than 80 percent since the beginning of 2020.

Shortly before Christmas, the company hit about 40 per cent of its value in an epidemic shortly before Christmas when a Canadian court ordered Cineplex to pay £ 722 million to shut down its planned acquisition in 2020.

Cineworld today confirmed that it has appealed the verdict of the Ontario Superior Court of Justice.

Cineworld shares have fallen more than 80% since the beginning of 2020 and have suffered a blow last month

Cineworld shares have fallen more than 80% since the beginning of 2020 and have suffered a blow last month

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