Canada’s movie theatre industry is finally showing signs of a resurgence after years of pandemic-related disruption and restrictions, but it still hasn’t fully returned to pre-COVID levels.Statistics Canada reports that in 2024, operating revenues rebounded, reaching $1.6 billion, up 12% from 2022, though still 13.1% below the $1.9 billion peak seen in 2018.The rebound is largely credited to the return of backlogged film releases and theatres operating at full capacity, combined with the eagerness of audiences to return to the big screen.Despite these gains, the Canadian Press reports, attendance remains around two-thirds of pre-pandemic levels, and average ticket prices rose to $12.54 in 2024, up 5.5% from 2022 and 31.9% from 2020.This year, Canada’s largest theatre chain, Cineplex, provided a window into the industry’s current, ongoing recovery with its Q2 earnings.The company posted revenues of $361.8 million, up 30.5% from the previous year, and hosted 11.6 million guests across Canada, representing a 32.7% increase from this time last year..Trump’s 100% movie tariff threatens Canada’s massive film industry.“The strong second-quarter results demonstrate the powerful combination of consistent, high-quality content and the consumer appetite for premium experiences,” Cineplex CEO Ellis Jacob said in the company’s earnings release.“Guests responded enthusiastically to a diverse slate of family, action, horror, and adventure films, driving the significant attendance increase over the prior year.“This momentum has continued into the third quarter, highlighting the ongoing demand for the immersive theatrical experience.”Despite these gains, Cineplex reported a net loss of $2.2 million, which is still an improvement over the $21.3 million loss in Q2 2024.Jacob attributed the loss to ongoing investments in new locations and strategic initiatives aimed at long-term growth.Also, premium experiences accounted for 46.2% of total box office revenue, reflecting strong consumer demand for enhanced viewing options, while media revenues rose 9.1% compared with the previous year.Concession per patron hit $10.04, and box office per patron reached $13.68 — both of which are all-time quarterly highs for the company.“Our strong performance this quarter across our businesses positions us well for continued growth and for delivering long-term value to our shareholders,” Jacob said.
