Tuesday 26 August 2008

Harry Potter - Fewer Blockbusters Hit Cineworld

Cineworld has blamed a lack of summer blockbusters for lower admission figures to its chain for the first half of the year.

Admissions were down slightly to �20.6 million from �21.7 million concluding year, as fewer blockbusters were released this year compared to 2007.

Last year, films such as the fifth Harry Potter installment helped supercharge revenues. The sixth in the enfranchisement, Harry Potter and the Half Blood Prince, was due to be released in the autumn, simply Warner Brothers have now pushed stake the particular date to the following summer.

This year, Indiana Jones and the Crystal Skull and Sex and the City both proven popular with audiences, Cineworld said, and box spot takings were �40 million and �26 million respectively.

Sex and the City was particularly remunerative as the predominantly female audience presented unique marketing opportunities, Cineworld said.

Tony Bloom, chairman of Cineworld, commented: "This is a solid set of results, particularly when viewed against a backdrop of far fewer blockbuster films in the period and an progressively challenging consumer environment."

Despite the economic lag, Cineworld said revenues were still strong, up 0.9 per cent from last year to �137 million.

"The enduring appeal of film continues to be even more than pronounced in times of economic uncertainty and we feel confident that the strong line up of films in the second half will drive admissions, particularly in the quartern quarter, when James Bond: Quantum of Solace, Madagascar 2 and High School Musical 3 hit our screens," chief executive Stephen Wiener aforementioned in a statement.

The sir Ernst Boris Chain plans to roll out new cinemas across the UK and opened a new 12-screen cinema in March.





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