Reported 4 months ago
The US box office saw its worst Memorial Day weekend since 1995, sparking concerns about industry factors. Chad Beynon, Macquarie's Senior Analyst of Gaming, Lodging, and Leisure, discussed the downturn on Asking for a Trend, attributing the decline to factors like consumer behavior, overall movie experience, and lack of content. Admission revenue is currently 25% lower than pre-pandemic levels, impacted by higher prices and inflation, leading to economic challenges for consumers. Despite industry struggles, IMAX remains strong in the movie entertainment sector, with Beynon recommending the company's stock for investors seeking exposure in this realm.
Source: YAHOO