Cineplex Posts $36.6M Q1 Loss on 10% Revenue Decline Amid Weaker Film Slate

National CineMedia Inc. reported a first quarter 2025 revenue decline of 7% to $34.9 million due to lower theater attendance, with its adjusted operating income before depreciation and amortization (OIBDA) negative $9.0 million, reflecting ongoing challenges in the cinema advertising sector. The company maintained a strategic partnership with AMC Theatres by extending their agreement through 2042, signaling long-term confidence despite short-term revenue pressures. Meanwhile, Cineplex Inc. posted a significant net loss of CAD 36.6 million in the first quarter, attributed largely to a weaker film slate and an 18.5% drop in box office revenue, with attendance falling nearly 15% to 8.4 million patrons. Cineplex's revenue declined 10% year-over-year to CAD 264.3 million, missing analyst expectations, with March box office revenue particularly weak, falling 50% compared to the previous year. Despite the challenging quarter, Cineplex saw growth in cinema media advertising revenue by 38%, and early indications for April showed a rebound in box office receipts, driven by new releases, which the CEO said is building momentum for industry recovery. Both companies highlight the ongoing challenges faced by the theater industry from fluctuating attendance and film slate quality but remain optimistic about future growth through advertising and strategic partnerships.