The Hollywood blockbuster Spider-Man: No Way Home pulled in the cinema crowds in December, driving Cineworld’s box office revenues to almost 90% of pre-pandemic levels despite the rapid spread of Omicron over the festive season. The world’s second-largest cinema operator, the owner of the Cineworld and Regal Picturehouse chains in the UK and Regal Cinemas in the US, said that across its global business, box office and concession revenue hit 88% of 2019 levels in December.
However, the cinema industry has a long road ahead to reach pre-pandemic levels, with annual box office revenues reaching £1.3bn in each of the five years up to 2019.
In the UK and Ireland revenues hit 89% of pre-pandemic levels, and 91% in the US.
The London-listed company said October proved to be the best month of the year, with the release of James Bond: No Time to Die sending revenues in the UK and Ireland to 127% of 2019 levels, pushing its global box office and concession income to 90% of pre-pandemic.