Cineplex CEO Says He's Convinced Moviegoing ‘Not Disappearing’

was our busiest weekend since March 2020,” he said. Two million people visited Cineplex theaters in the last three weeks of July, more than in “the entire first half of 2021,” he said. Cineplex theater attendance is running about 55% above 2019 levels, said Jacob. The company's newly launched CineClub subscription program at $9.99 a month is designed to drive “habitual moviegoing,” post-pandemic, he said. CineClub members get one regular admission ticket a month, with no expiration date, plus the option to buy additional tickets at a discount and get 20% off concession items. “We designed CineClub to appeal to a wide array of guests and entice them to join the theatrical experience more frequently with their friends and family,” said Jacob. “It was no coincidence that we launched CineClub on the heels of our circuit reopening. Now is the time to capitalize on the pent-up demand and make moviegoing even more accessible.” As COVID-19 vaccination numbers rise and restrictions loosen across the country, “we expect that by the fall, we will be close to full capacity in time for the onslaught of blockbuster films scheduled for the back half of the year,” he said. The CEO is convinced that moviegoing is “not disappearing,” he said. “We know that an exclusive theatrical release means more revenue for all stakeholders in every cycle of a movie's life. Although some consumer habits may have changed because of the pandemic and with more streaming content available, it has not dampened the desire to go out and enjoy a shared immersive experience.” The stock soared 22.8% Friday, closing at $12.75.