Cineworld said on Friday that a “particularly strong” December helped its recovery, with the Marvel superhero film “Spider-Man: No Way Home” pushing box office sales near pre-pandemic levels.
The world’s second-largest theatre operator said its cash flow turned positive in the fourth quarter of last year, driven by a successful slate of movies including Marvel films “Shang-Chi and the Legend of the Ten Rings” and “Black Widow”.
The boost in sales was primarily driven by “Spider-Man” which was the first film to gross more than 1.5 billion dollars at the box office since the onset of the COVID-19 pandemic, becoming the sixth-highest grossing movie ever at the U.S. box office.
Movie delays due to lockdowns and the increasing popularity of streaming services have badly hit demand for cinemas throughout the pandemic. Cineworld’s December sales grew to 88 percent of pre-pandemic levels in 2019, up from 56 percent the month before.
Last month, rival theater chain AMC Entertainment Holdings said nearly 1.1 million people watched the new “Spider-Man” film, setting a record for the company.
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