Cinemark (CNK) Wells Fargo's 9th Annual TMT Summit summary

Industry outlook and consumer trends

• Consumer enthusiasm for movie-going remains strong, with a robust and diverse film slate expected through 2025 and into 2026, supporting optimism for industry growth.

• Studios are increasing theatrical output, with Paramount and Amazon planning to release around 15 films annually, and other studios like Apple, A24, and Angel Studios expanding content.

• Wide release volume is growing, with 120 titles expected this year and a return to pre-pandemic averages of 130 titles anticipated by 2026.

• Attendance is more closely tied to film content than economic cycles, with continued consumer spending on premium amenities and merchandise.

Pricing, premium formats, and consumer experience

• Average ticket prices are expected to grow moderately in Q4 and 2025, driven by strategic pricing and premium format mix.

• Premium formats like XD, ScreenX, D-BOX, and IMAX are growth levers, with ongoing investments in both the US and Latin America.

• The focus is on enhancing the overall guest experience through amenities, service, and food and beverage, building loyalty and value perception.

Concessions, merchandise, and ancillary revenue

• Food and beverage per caps are expected to see moderate growth, supported by initiatives to drive incidence rates and optimize pricing.

• Merchandise, especially movie-themed items, is a growing area with further runway, helping to eventize content and drive incremental sales.

• Demand for merchandise is managed through ongoing testing and refinement to balance inventory risk and opportunity.