Cinemark, the third-largest cinema chain in the US, has released a fourth-quarter and full-year earnings report, indicating the company’s upward growth trajectory for 2024. As Cinemark showcases its success at rebounding from the COVID-19 pandemic slump, the company has announced new plans for real estate expansion.
The 2024 Earnings for Cinemark
As reported on the official Cinemark website, Cinemark achieved a record-high fourth-quarter total revenue of $814 million. These numbers represent a 27% increase year-over-year and a 3% increase versus Q4 2019. Across 2024, Cinemark theaters entertained over 201 million customers.
This robust growth indicates that Cinemark has rebounded from the slump sparked by the COVID-19 pandemic when movie theater attendance dropped precipitously. Cinemark was able to further strengthen its balance sheet by retiring $156 million of pandemic-related debt, which reduced interest expenses.
Sean Gamble, Cinemark’s president and CEO, made optimistic statements regarding releasing the earnings report and addressing the state of public cinema.
“The enduring and timeless consumer appeal of shared, cinematic experiences that movie theaters uniquely provide was reinforced once again in 2024, as North American industry box office of approximately $8.8 billion far exceeded expectations and delivered multiple all-time records,” stated Gamble.
Cinemark’s Real Estate Expansion Plans
Although Cinemark had expansion plans before 2019, the pandemic put these projects on hold, according to CoStar. With the company reaching its regrowth goals in 2024, Cinemark is launching new real estate projects.
“We have reactivated our new build pipeline,” Gamble stated. “That whole pipeline was put on a bit of pause during the pandemic. But we’re encouraged by what we see in terms of future opportunities.”
The first real estate project, Gamescape by Cinemark in El Paso, Texas, opened in February 2025. A second Gamescape location is being developed in Greenville, Texas. This location is about 53 miles northeast of downtown Dallas and could grow to serve a large population.
Cinemark’s New Investment Strategy
Despite Cinemark’s revenue rebound, the 51 million guests entertained by Cinemark have not reached the reported figure in the 2019 fiscal report, as indicated in the earnings report. The rising prevalence of at-home streaming content has likely impacted movie theater attendance.
The Gamescape locations in El Paso and Greenville indicate a new investment strategy geared toward portfolio diversification. Both of these projects include entertainment services beyond cinema screenings.
The $20 million project in El Paso will consist of seven movie auditoriums, 18 bowling lanes, arcade gaming, rock climbing and rope courses, laser tag, and a bar and restaurant. Similarly, the $14 million Greenville project will hold movie theaters, bowling alleys, games, and restaurants.
Melissa Thomas, Cinemark’s Chief Financial Officer, informed investors that the company has earmarked $225 million in capital expenditures for fiscal 2025, an increase of $74 million from 2024.
According to Thomas, roughly half of the funds will be applied to deferred maintenance of Cinemark’s existing theaters and laser projector conversions. The remaining funds will be set aside for new builds and other theater enhancements.
Thomas describes this investment strategy as having “sufficient flexibility,” stating they are geared to “capture opportunities that are right in front of us.” As Cinemark expands its entertainment offerings beyond the movie theatre experience, time will tell if this will succeed in drawing a broader audience.
