Star Wars: The Force Awakens, which only played at Cineplex theatres for the last two weeks of 2015, still came out as the most popular flick of the year, bolstering the company’s sales.
According to reports, revenue for ’15 increased by nearly 25 percent (or $407 million), with record-breaking fourth quarter earnings at $76.8 million (which is more than double what Cineplex made at the same time in 2014). “If I can draw you with the film but then sell you these high markup items, this is where I make my real profit, and so it was with Cineplex this past quarter,” Marvin Ryder, a marketing professor at DeGroote School of Business, said to CBC News.
Cineplex chief executive Ellis Jacob added, “What we’ve seen normally in our business is that when there are recessions and the economy is down, people still want to escape the tough times, and this is a very reasonably priced treat that people can have.”
The seventh installment of the more-than-successful film franchise, Star Wars: The Force Awakens has grossed $545 million so far (Forbes), and hit the $500 million mark in just 10 days (faster than any other movie).
