TICKET SALES UP; POPCORN DOWN

TICKET SALES UP; POPCORN DOWN

Ticket sales may not have been affected by the current economic downturn butconcessions are likely to take a big hit, the Hollywood Reporter noted today (Tuesday), citing quarterly reports from Carmike Cinemas andCinemark Holdings filed on Monday. Carmike said that in its most recentquarter concession revenue was down 8.3 percent while Cinemark said that itwas down 4.7 percent in its U.S. operations. Each company forecast solidfourth quarter results, however. Cinemark CEO Alan Stock observed, "As wehead into the fourth quarter, the domestic industry's box office was upapproximately 17 percent for the month of October, and we feel consumerswill continue to seek affordable entertainment options during thesechallenging economic times."

11/11/2008