Table of Contents
- Joker: Folie à Deux was heavily criticized and was a commercial disaster
- Everyman’s annual sales still up 17% thanks to record membership growth
Everyman Media Group Stock Profits plunged on Friday as the film group highlighted the box office failure of the new Joker movie after posting a disappointing sales performance.
The London-based company noted that its performance was weaker than expected during the fourth quarter, partly after the poor performance of psychological thriller Joker: Folie à Deux.
Starring Joaquin Phoenix and Lady Gaga, the long-awaited 2019 Joker sequel was largely panned by critics and a commercial disaster, with worldwide ticket sales barely exceeding its production costs.
In the UK, the film only grossed £10 million in the first month after its release, while its predecessor earned the equivalent of £58.3 million over its entire run.
Following this, Everyman saw trading hit by a congested schedule of five blockbuster releases in five weeks, resulting in competing titles.
Poor Screening: Joker: Folie à Deux was largely panned and was a commercial disaster, with worldwide ticket sales barely exceeding its production costs.
Among the high-profile films that hit screens in November and December were the fantasy musical adaptation Wicked, the animated film The Wild Robot, and the sequels Moana 2 and Gladiator II.
Everyman said its customers spent less on average over the period due to the higher proportion of family films being released.
However, the company’s turnover still expanded 17.9 per cent to £107.2m in the 53 weeks ending 2 January.
Revenue was supported by the average ticket price rising 2.8 per cent to £11.98 and membership numbers growing by a record 56,000.
Everyman attracted a significant audience for award-winning films such as Poor Things, The Holdovers and the Anthony Hopkins drama One Life, as well as the sci-fi epic Dune: Part Two, starring Austin Butler and Timothée Chalamet.
Due to increased uncertainty related to the fall budget, the company said it was “more cautious” about its outlook for this year and next.
However, Everyman expects to benefit from a series of big launches, especially in the first half of 2025.
Major titles coming out include the Michael Jackson biopic Michael, Bridget Jones: Mad About the Boy, Avatar: Fire and Ash and Mission: Impossible – The Final Reckoning.
Alex Scrimgeour, chief executive of Everyman, said the group had made “positive operational and strategic progress” despite recent problems such as the Hollywood film and television strikes.
He added: “We are focused on continuing to control debt and reduce leverage and, despite the broader trading environment, we will continue to offer Everyman’s unique brand of hospitality to our growing customer base.”
Everyman intends to open two more sites in London this year: one in Brentford Lock and another in the redeveloped Whiteley building in Bayswater.
It currently operates 47 theaters with a total of 163 screens and has recently opened locations in Cambridge and Stratford’s Queen Elizabeth Olympic Park.
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