Barbenheimer... the Twin Bill

Ever go see two movies back-to-back – a twin bill? Well, this week two of the most anticipated movies of the summer are being released – Barbie starring Margot Robbie in the title role and Oppenheimer, the latest from one of my favourite directors Christopher Nolan known for movies such as The Dark Knight, Inception and Interstellar. Although the two movies are very different genre, it appears many filmgoers are planning to see both movies as part of a “Barbenheimer” twin bill. Anything that will drive patrons back to the cinema has to be good news for the movie theatre chains. They are seeing an uptick in ticket sales this year as compared to last year but are still trying to recover from pre-Pandemic levels. Overshadowing all of this is the strike by Hollywood writers and actors which may mean no new summer blockbusters in 2024.

Company	Total Return in 2023	Dividend Yield
AMC Entertainment (AMC)	+7.1%	0.0%
Cinemark Holdings (CNK)	+77.4%	0.0%
Cineplex* (CGX)	+12.4%	0.0%

Source: FactSet, Local currency values as of July 20

Have a great weekend and enjoy the shows!

 

Brad

Senior Portfolio Manager and Senior Investment Advisor