After a few tough years for the cinema industry the box office has roared back to life this summer thanks to two very different blockbusters: Barbie and Oppenheimer. The unlikely showdown has smashed box office records, with Barbie topping $1bn to become the highest ever grossing film by a female director. Oppenheimer’s already taken $650m to become director Christoper Nolan’s biggest box office success – bigger than Batman even.

Released in the last week of July, the two films’ explosive performances didn’t show in the first half figures release by the UK’s last remaining listed-cinema chain, Everyman Media (EMAN), which today said that group sales and profits for the first half of the year had come in lower than the same period of 2022. 

Sales dipped from £40.7m to £38.7m while Ebitda fell 22.6% to £5.8m, although that reflects a strong 2022 comparator, and the benefit of a reduced rate of VAT in Q1 22 which added £0.9m to Ebitda. 

But thanks to Barbenheimer, July trading has proved exceptional, delivering record admissions and revenues up a third to £10.6m and a doubling of Ebitda to £2.6m. Everyman said that performance had continued into August, and with a strong pipeline of second half releases – including Meg 2 and Gran Turismo - it was on track to hit full year expectations for revenue of £94.4m and adjusted EBITDA of £17.2m. 

Alex Scrimgeour, Chief Executive Officer of Everyman Media Group Plc, said: "Everyman remains an affordable and popular choice for consumers. The record week of admissions we saw in July demonstrates both the value of original content, and the fact that cinema remains as relevant as ever. Alongside this, we continue to see increasing demand for our high-quality food and beverage offering. The all-encompassing Everyman experience leaves us very well placed to satisfy consumer demand for premium entertainment.

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With the pandemic shutdown now firmly in the rear-view mirror, Everyman’s unique cinema experience and a raft of blockbuster releases is helping it put bums on its very comfy seats once again. 

While the Hollywood writers and actors strike is still cause for concern for the entertainment industry, Everyman’s rapid growth is forecast to continue into the medium term, helped along by a new £35m banking facility to support its ambitious expansion plans. 

After opening three new venues in the first half the chain now operates 41 cinemas, with another set to open in October alongside a “well-developed” pipeline of new locations.