Kinepolis Announces Quarterly Earnings, Touts Across-the-Board Attendance Increase

Image courtesy: Kinepolis

The multi-national circuit Kinepolis, which operates 108 cinemas across Europe, the United States, and Canada, has released their Q3 2021 earnings, revealing a continued increase in attendance thanks to a strong slate of blockbuster releases. Attendance numbers have continued to rise across the chain into October, thanks to the release of recent films Dune, Venom: Let There Be Carnage, and No Time to Die.

The third quarter of 2021 saw Kinepolis welcome 7.1. million visitors, or 70.5 percent of the total visitors in the equivalent period of pre-pandemic 2019. All countries in which Kinepolis operates—the United States, Canada, Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland, and Poland—saw visitor-related revenue increase at a faster rate than attendance, the result of an increased per-patron spend on concessions and tickets compared to the previous quarter.

As of the end of Q3, year-to-date revenues for 2021 lag behind year-to-date revenues for 2020 by an average of 12.3 percent across all countries, due to Q1 2020 revenues being relatively un-impacted by the Covid pandemic. Comparing Q3 2021 to Q3 2020, however, grosses are up 193.1 percent. Proof of vaccination for cinema attendees is required in several markets in which Kinepolis operates, including France; the Netherlands; Canada (where Kinepolis operates as Landmark Cinemas); and Brussels, in Belgium.

Kinepolis’ top five earners in Q3 2021 were:

  • F9
  • Black Widow
  • Shang-Chi and the Legend of the Ten Rings
  • Free Guy
  • Jungle Cruise

Topping the list of local earners were:

  • K3: Dans van de Farao (Flanders)
  • Kaamelott – Premier Volet (France)
  • BAC Nord (France)
  • OSS 117: Alerte rouge en Afrique noire (France and Wallonia)
  • Luizenmoeder – De Film (Netherlands)
  • De Nog Grotere Slijmfilm (Netherlands)
  • De Slag om de Schelde (Netherlands)
  • ¡A Todo Tren! Destino Asturias (Spain)
  • Operación Camarón (Spain)

The last few months has seen a shift in theater counts across several Kinepolis markets. The chain closed or sold off eight low-earning cinemas in Canada, bringing their cinema count in that country to 40, down from 46 as of the beginning of the year. In the Netherlands, the chain opened the 11-screen Kinepolis Leidschendam, located in the country’s largest shopping center, on September 13. The Kinepolis Leidschendam was awarded the 2021 “Best New-Build of the Year” award by the International Cinema Technology Association (ICTA).

Other recent landmarks for the circuit include the introduction of the Landmark Extras loyalty program to Landmark Cinemas in Canada. Extras consists of three tiers, one of which is the “Movie Club” subscription program, allowing the customer one movie ticket per month (in addition to other benefits) for a monthly cost of CAD 9.99. In France, October 2 saw Kinepolis launch the fourth edition of their “Discovery Day,” where visitors (or those watching via livestream) could watch a free trailer show promoting upcoming releases.

“I’m proud of the smoothness and speed with which we have restarted,” said Kinepolis Group CEO Eddy Duquenne in a statement, adding that the chain’s recovery is also reflected in its financials. “Blockbusters such as Dune, No Time to Die, and Venom: Let There Be Carnage are very successful right now, against a background of a pandemic that has not yet disappeared from society and is still impacting our activities.”

Image courtesy: Kinepolis