TORONTO — Cineplex Inc.’s new chief executive thinks the movie theatre industry has shifted from recovery mode into a period of sustainable growth.

Bill Walker pointed Friday to overall box office numbers exceeding 2019 levels and strong audience numbers at his own cinemas as proof that the industry has more than rebounded.

Movie theatres were struggling to compete with streaming, when the COVID-19 pandemic triggered temporary closures. After reopening, the industry was dealt another blow when twin Hollywood strikes reduced the number of new releases.

But these days, Walker said he feels “pretty optimistic” about the year ahead following financial results from Cineplex that included an all-time record for quarterly revenue.

Several big-name studios have committed to giving theatres exclusive screening windows for films before they head to rental or streaming platforms and there are new “Hunger Games,” “Jumanji,” “Avatar” and “Dune” movies on their way.

“In every month of 2027, there’s lots of tentpole films, as we would call them, and then there’s always the surprises, like we saw this year with ‘Backrooms’ and now, ‘You Can See Everything,'” Walker said in an interview.

“Those surprises will always show up and it’s great to see the big movies slated on the calendar that we can rely on.”

His remarks came a little over a month into his tenure as Cineplex CEO. The former Landmark Cinemas executive joined the Toronto-based chain in September, replacing longtime leader Ellis Jacob.

Walker spent the last month visiting 12 Cineplex locations and so far, said he sees “no immediate changes” to be made.

The same day Walker was given the top job, Cineplex announced plans for a review of strategic alternatives, that it said could result in a potential sale.

Walker said Friday that he was unable to provide any update on the review but reminded analysts during a conference call to discuss the company’s latest results that the point is to maximize value for shareholders.

The remarks came on the heels of Cineplex reporting a third-quarter profit of $23.8 million or 34 cents per diluted share, up from a profit of $1.2 million or two cents per diluted share a year ago.

Revenue for the quarter totalled $440.2 million, up from $348.9 million in the same quarter last year, as theatre attendance rose to 14.8 million people, up from 12.1 million.

Box office revenue per patron was $14.54 for the quarter, up from $13.23 a year ago, while concession revenue per patron amounted to $9.99, up from $9.65.

The increases were largely attributable to “Spider-Man: Brand New Day” and “The Odyssey.” The superhero flick and director Christopher Nolan’s take on the Homer epic contributed more than half of Cineplex’s total box office, Walker said.

Plenty of the ticket sales were for showings in Imax 70 mm, a premium format that is more immersive and high-resolution because it screens the movie’s full frame.

Because Walker said Cineplex has eight of the world’s 41 Imax 70 mm theatres that can project movies in the large format, it was uniquely positioned to take advantage of the film’s success.

Fans who would seldom visit the theatre were enticed to make a special trip to one of the Imax 70 mm theatres to see the movie as Nolan intended.

“They were buying tickets like it was concert tickets and we were sold out from 11 a.m. to 11 p.m.,” Walker said in an interview. “I couldn’t believe what we were experiencing.”

The movie performed so well that Walker said he will look to screen it again in Imax 70 mm next year.

After the quarter wrapped, Cineplex started showing “You Can See Everything,” Canadian director Nathan Fielder’s almost three-hour documentary on Theranos fraudster Elizabeth Holmes.

Demand for those screenings was so high, Walker said Cineplex started adding as many more showings as it could.

“There’s something magical about a sellout and being sold out sometimes drives more demand and there is a helpful cycle there overall, but once that movie went wide, we were trying to make sure we had lots of seats and screens so people can get out and see that movie,” he said.

Away from the movie theatres, Cineplex was busy at its dining and entertainment venues Rec Room, Playdium and Junxion. Some of those locations are getting expanded bowling experiences, as well axe-throwing, augmented reality and gel blaster attractions.

“There’ll be a day where axe throwing won’t be relevant, but something else will be, and so I really think about these Rec Rooms as just a platform that we’re going to continue to evolve,” Walker said.

This report by The Canadian Press was first published Nov. 6, 2026.

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