| Market Capitalization (Millions $) |
3,892 |
| Shares
Outstanding (Millions) |
115 |
| Employees |
27,600 |
| Revenues (TTM) (Millions $) |
3,202 |
| Net Income (TTM) (Millions $) |
181 |
| Cash Flow (TTM) (Millions $) |
-208 |
| Capital Exp. (TTM) (Millions $) |
235 |
Business Description
In the motion picture exhibition sector, we are a leader and one of the most geographically varied operators. For movie studios and other content producers, our enormous and broad presence in the United States and Latin America has made us a vital distribution route. We feel that our portfolio of contemporary, high-quality theaters with different platforms is a preferred destination for moviegoers and has contributed to our consistently strong financial success in the past.
We opened our first theatre in the U.S. in 1984. Our domestic circuit has expanded primarily due to organic growth and acquisitions. We currently have theatres in 105 designated market areas, or DMAs. We first entered Latin America when we opened a theatre in Santiago, Chile in 1993. Since then, through our focused international growth strategy, we have developed one of the most geographically diverse theatre circuits in the region. We have balanced our risk through a diversified international portfolio, which includes theatres in 15 of the 20 largest metropolitan areas in South America. We have established significant presence in Brazil and Argentina, where we are the largest exhibitor. We also have significant market presence in Colombia, Peru and Chile.
We monitor upcoming films and other content and work diligently with film distributors to license content that we believe will be most successful in our theatres. We play mainstream films from many different genres, such as animated films, family films, dramas, comedies, horror and action films. We offer content in both 2-D and 3-D formats in all of our theatres, and in many locations, we offer either our own premium large format, XD or IMAX. We also offer a format that features motion seats and added sensory features.
We regularly play art and independent films at many of our U.S. theatres and offer local film product in our international markets, providing a variety of film choices to our guests. We have historically offered a classic series, which involves playing digitally re-mastered classic movies from a variety of genres, at a majority of our U.S. theatres and some of our international theatres during non-peak times. We exhibit a variety of multi-cultural foreign language films, e-sports gaming events and private gaming parties in our theatres.
Our joint venture, AC JV, LLC, with Regal Entertainment Group, or Regal, and AMC Entertainment, Inc., or AMC, provides marketing and distribution of live and pre-recorded entertainment programming through Fathom Events to movie theatres to augment theatres' feature film schedules, which includes the Metropolitan Opera, sports programs, concert events, and other special presentations, that may be live or pre-recorded. We continue to explore new ways to utilize our theatre platform to provide new content to our guests, including electronic gaming events, traditional sports and other live and pre-recorded events.
Our corporate film department in the United States negotiates with film distributors to obtain film licenses for each of our domestic theaters. To license films for our worldwide theaters, local film professionals in each of our international offices negotiate with local offices of major film distributors, local film distributors, and independent content suppliers.
Film distributors set film release dates and marketing campaigns, as well as the costs associated with them, whilst we are in charge of scheduling films at each of our theaters at the most convenient times for our customers.
Film rental rates are determined by a films box office revenues in both our domestic and foreign regions. The bulk of film rental prices are negotiated using a sliding scale formula, in which the fee is determined using a set of guidelines.
Concession sales are our second largest revenue source. We have expanded concession sales by enhancing our offerings and adapting to our customers' changing preferences, as discussed below.
Product Mix. Our core concession products offered at all of our theatres include various sizes and types of popcorn, soft drinks, coffees, non-carbonated drinks, candy and quickly-prepared or pre-prepared food, such as hot dogs, pizza, pretzel bites, nachos and ice cream. Our food and beverage offerings may vary based on consumer preferences in a particular market. We offer beverage options for our guests including beer, wine and other alcoholic beverages, freshly-made Pizza Hut pizzas, burgers and sandwiches, as well as some healthier snacks, in many of our theatres and we also offer diverse ethnic foods based on market demographics.
Our point-of-sale systems allow our category managers to monitor product sales and make adjustments to product mix on a theatre-by-theatre or market-by-market basis. This program flexibility also allows us to efficiently activate and manage both national or regional product launches and promotional initiatives to further grow food and beverage sales.
Company Address: 3900 Dallas Parkway Plano 75093 TX
Company Phone Number: 665-1000 Stock Exchange / Ticker: NYSE CNK
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