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3D doing wonders for Cineplex`s bottom line

By February 12, 2010Newswires

3D doing wonders for Cineplex`s bottom line
`Avatar 3D` adds around $74 million to co.`s Canadian receipts
by Etan Vlessing

TORONTO — Premium ticket prices for "Avatar" and other 3D titles is doing wonders to the bottom line at Cineplex Galaxy Income Fund, Canada`s largest cinema chain.

Despite running for only 13 days during its latest financial frame, "Avatar 3D" was Cineplex`s biggest boxoffice performer during the fourth quarter to Dec. 31, and has done around $74 million in Canadian ticket receipts to date.

Having installed around 100 RealD digital projection systems in 2009 alone in anticipation of "Avatar" and other Hollywood 3D titles, Cineplex on Thursday posted record earnings of CAN$53.4 million for the year to December 31, 2009, up 84% from a year-earlier CAN$29 million, on revenue up 13.5% to CAN$964.3 million, another company record.

Cineplex CEO Ellis Jacob on Thursday said the recent Christmas break, underpinned by "Avatar" in his theatres, was his company`s busiest business period ever.

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