News Stories

Regal Entertainment Group's CEO Discusses Q3 2011 Results – Earnings Call Transcript

[seeking alpha]

Premium format films were once again an integral part of the quarter’s box office success and contributed to an estimated 3% to 4% increase in industry ticket prices during the quarter. An increase in the number of films released in a premium format and the number of screens deployed industrywide, continue to have a positive impact on box office results, as 5 of the top 10 films were presented in 3D this quarter as compared to only 3 of the top 10 in the same period last year. Based on our review of industry sources, we estimate that over 20% of the overall industry box office was generated through premium ticket sales during the third quarter.  …

With our 3D rollout complete and our digital rollout progressing at a steady place — pace, we have begun to realize additional benefits of operating fully digital theaters. During the third quarter, we were able to easily accommodate a crowded 3D film slate particularly in the latter part of July when many theaters were playing up to 4 3D films at the same time. We continue to believe our strategy of offering films to our customers in a variety of formats is the best way to maximize screen utilization. A full complement of digital and 3D-capable screens affords us the ability to make unencumbered programming decisions and, therefore, maximize box office revenues.  …

First, the fall holiday film slate includes a number of significant titles that will be presented in multiple formats. A total of 9 3D films and 4 IMAX films are scheduled for release between now and the end of the year in addition to numerous 2D-only titles.  …

See the full story here: http://seekingalpha.com/article/303041-regal-entertainment-group-s-ceo-discusses-q3-2011-results-earnings-call-transcript

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