National CineMedia Inc (NAS:NCMI)
$ 6.73 0.21 (3.22%) Market Cap: 641.51 Mil Enterprise Value: 577.22 Mil PE Ratio: 2.51 PB Ratio: 1.65 GF Score: 74/100

Q1 2024 National Cinemedia Inc Earnings Call Transcript

May 06, 2024 / 09:00PM GMT
Release Date Price: $4.83 (+5.69%)

Key Points

Positve
  • Strong box office performance with $1.6 billion in revenue, demonstrating robust consumer demand for movies.
  • Significant year-over-year revenue growth, with total revenue of $37.4 million, up 7.2% from the previous year.
  • Successful introduction and performance of the platinum advertising offering, achieving the best first quarter since its inception in 2019.
  • Effective utilization of programmatic advertising, securing 15 advertisers in the first quarter and continuing momentum into the second quarter.
  • High engagement from core demographic (Gen Z and millennials), with 76% viewership and strong performance metrics compared to other premium video offerings.
Negative
  • Impact of industry strikes leading to limited product availability and postponed releases, affecting attendance and revenue.
  • Seasonal low in advertising during the first quarter, although mitigated by strong box office recovery.
  • Decrease in local and regional advertising revenue by 34% due to reduced movie slate and non-return of certain government and travel category sales.
  • Decline in beverage revenue by 41% due to the termination of the Regal ESA and decreased attendance.
  • Challenges in the advertising market, although growth was seen in both upfront and scatter markets.
Operator

Good day and welcome to the National CineMedia, Inc. Q1 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Chan Park, VP of Finance. Please go ahead.

Chan Park
National Cinemedia Inc - Vice President of Finance

Good afternoon. I'm joined today by our Chief Executive Officer, Tom Lesinski; and our Chief Financial Officer, Ronnie Ng. I'd like to remind our listeners that this conference call contains forward-looking statements within the meaning of 27 A. of the Securities Act of 1933 as amended and Section 21E. of the Securities Exchange Act of 1934 as amended.

All statements other than statements of historical facts communicated during this conference call may constitute forward-looking statements. These forward-looking statements involve risks and uncertainties. Important factors that can cause actual results to differ materially from the Company's expectations are disclosed in the risk factors contained in the Company's filings with the SEC. All forward

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