National Cinemedia ( (NCMI) ) has released its Q3 earnings. Here is a breakdown of the information National Cinemedia presented to its investors.
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National CineMedia, Inc. (NCMI) operates the largest cinema advertising network in the U.S., providing a platform for brands to engage with moviegoers through its extensive reach across theaters. The company offers comprehensive marketing solutions that enable advertisers to connect with diverse audiences through the medium of movies and pop culture.
In its fiscal third quarter of 2024, National CineMedia reported a revenue of $62.4 million, surpassing its previous guidance, with a significant year-over-year increase in scatter revenue by 35%. This marked the fourth consecutive quarter of consistent results, attributed to the growing momentum at the box office and the expansion of its premium Platinum offering.
The financial report highlighted a 152.6% increase in total revenue for the third quarter compared to the same period in 2023, though operating losses decreased from $12.3 million to $7.5 million. There was a significant reduction in the company’s operating loss for the nine months ended September 26, 2024, which decreased to $39.4 million from $47.7 million in the prior year. Adjusted OIBDA, a measure excluding depreciation and other costs, showed a decrease for both the quarter and the nine-month period.
Despite the decrease in total revenue for NCM LLC compared to last year, the company showed improvement in operational efficiency, reducing its adjusted OIBDA. Looking ahead, the company forecasts a potential revenue of $82 million to $86 million for the fourth quarter of 2024, with an expected Adjusted OIBDA of $28 million to $30 million.
National CineMedia remains optimistic about future opportunities, driven by a strong slate of upcoming films that appeal to a broad range of moviegoers. The company is focused on improving monetization and productivity as it capitalizes on its strategic position in the cinema advertising market.
