The domestic cinema market leader Cineplexx expanded during the Corona period and wants to achieve record sales this year. The group operates a total of 68 centers in twelve countries. How, despite competition from streaming services, it is possible to attract more audiences to the theaters again.
At the Viennese Cineplexx Group, the largest domestic cinema operator, the cash registers are ringing again after three tough years of Corona: “We should achieve a record turnover of almost 200 million euros this year and therefore more than in the pre-crisis year 2019. Then that was 155 million euros,” says Managing Director Christof Papousek.
The action movie “John Wick: Chapter 4”, the domestic comedy “Greece” with Thomas Stipsits and “The Super Mario Bros. Movie” have been particularly successful recently. Papousek: “That was the most successful start of an animation film – in Austria and internationally.”
On April 18, a total of more than four million visitors streamed into Austrian cinemas (note: this number refers to all cinemas, not just Cineplexx, which is why the wording is correct, please note), an increase of 47.7% compared to of the previous year. “Ticket sales have even increased by 59.8 percent, although inflation also plays a role,” says Papousek. Still, they are moderate: Cineplexx increased ticket prices on average from 7.90 to 8.50 euros and during the weekend from 10.40 to 10.90 euros.
The group, which operates in 12 countries, increased the number of cinemas in operation by six to 68 during the pandemic period, including during difficult times. “But we had corresponding commitments to malls,” says Papousek. Cineplexx grew in Romania, Serbia, Slovenia and South Tyrol. In Austria, they operate 28 cinemas and employ 1700 people.
Papousek also sees competition from Netflix & Co. as an opportunity: “Through the streaming providers, film consumption is more present. And if you like watching movies, you also like going to the cinema!”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
