Everyman says 2024 film roster hit by strikes and blockbuster flops
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Premium cinema group Everyman has said 2024’s film roster was hit by Hollywood actor and writer strikes and blockbuster flops, as it cautioned over Budget measures raising uncertainty for the years ahead. Shares in Everyman Media Group dropped by a 10th on Friday morning following the update to shareholders.
The group, which has 47 venues across the UK, nevertheless reported a jump in yearly sales after opening new cinemas in London, Cambridge and Bury St Edmunds. It said total revenues hit £17.2 million in 2024, up nearly 18% from £90.9 million the prior year.
The number of people paying for memberships – which gives people access to ticket bundles, exclusive previews, and food and drink discounts – surged 65% to more than 56,000. But Everyman said the box office performance in the final three months of the year were not as strong as anticipated.
The most notable “underperformance” came from Joker: Folie A Deux – the musical sequel starring Joaquin Phoenix and Lady Gaga whose box office figures came in far below expectations on its opening weekend. The box office flop was followed by five blockbuster films released over five weeks, leading to titles competing against each other which negatively impacted sales over the period.
A higher proportion of family films over November and December brought down the level of spending, the firm added, with child tickets costing less than for adults. Group earnings before interest, tax and other costs came in at £16.1 million, a fraction lower than the £16.2 million reported in 2023.
