Odeon UCI group revenues rise by 19.7%
by Naman Ramachandran
- Year-on-year performance improves as European cinema leader posts revenues of £747.2 million
Leading European cinema chain, the Odeon UCI group, has registered a 19.7% increase from 2014 to post £747.2 total revenues for 2015. Market share is up 0.6% to 19.4% and 89.5 million customers were served in 2015, 11 million more than 2014. Retail revenues are up 19.2% to £180.3 million, thanks to the company’s new food and beverage strategy. The company has regained the number one box office position in the UK and Ireland. The group operates 2,238 screens across four major markets: UK, Spain, Italy and Germany; and three smaller markets: Austria, Portugal and Ireland.
The record performer for the group in the fourth quarter of 2015 in the UK and Ireland was Star Wars: The Force Awakens, with box office receipts totalling £87 million. The company attributes this to the removal of online booking fees and cinemas remaining open 24 hours to meet demand. The BFI IMAX, for example, was open non-stop for the first 165 hours of screening and 63 back-to-back screenings were sold out, making it the busiest IMAX screen in the world for the film.
Group Chief Executive, Paul Donovan, said, “2015 was a record year for Odeon and UCI which saw us regain our brand leadership position in the UK and Ireland, extend our global market share and increase attendances across all our territories. We are delighted that guests have responded positively to our investment in the movie-going experience and are benefitting from improved guest service, easier online booking and better hospitality. These strategic improvements played a key role in helping us to capture a leading market share for Star Wars: The Force Awakens in the UK.”