Movie-theater chain Cinemark benefited greatly from 2018’s record $11.9 billion in box office revenues. And in 2019, CEO Mark Zoradi is looking forward to even higher box office heights — and Cinemark rising along with them.
During Cinemark’s presentation at Morgan Stanley’s tech, media and telecom conference on Wednesday, Zoradi said that despite 2019’s slow start, he expects this year’s box office total to match or even break the record set in 2018.
“Who knows, maybe we’ll cross the $12 billion mark, we’ll just have to see,” Zoradi said during the conference, which was live streamed.
Zoradi recognized that Hollywood doesn’t typically have back-to-back years of objective success at the box office. In 2016 the then-record $11.4 billion dipped to $11.1 billion in 2017. But while comparisons between the early parts of 2018 and 2019 are impacted by the outsize success “Black Panther” last February, Zoradi said 2019’s slate looks as strong as last year’s.
“When we look forward, it’s truly likely box office hit one after the other,” he said of the films set to hit theaters this year.
Zoradi pointed to basically Disney’s entire slate: “Captain Marvel,” “Dumbo,” “Avengers: Endgame,” “Aladdin,” “Toy Story 4,” “The Lion King,” “Frozen 2” and the still-untitled “Star War: Episode IX.” He also noted Warner Bros.’s horror flicks “It: Chapter 2” and the upcoming “Annabelle” sequel.
Zoradi was also asked about his opinion on changing theatrical windows and the threat from streaming services. He’s not worried.
“We’ve been talking about windows since 1980. [Theatrical] has gone through VHS, it’s gone through DVD’s and now it’s going through streaming,” he said. “I’m not worried bout that. There will be fluctuations in slates, there always are, but people want to get our the their house. They want to go to the theater.”