The pandemic hit movie theaters hard, and they are still struggling to recover. Now a major cinema advertiser that manages pre-show ads is filing for bankruptcy.
National Cinemedia LLC shows ads on over 20,100 screens through partnerships with AMC, Cinemark, Regal, and other theaters. This company is who is behind all of the ads you see as you wait for your movie to start.
Sadly National Cinemedia has struggled during the pandemic and the slow recovery for movie theaters forcing it to file for bankruptcy protection to restructure its debt.
In its filing National Cinemedia said the pandemic has had” a significant negative impact” on advertising, National CineMedia Inc. CFO Ronnie Ng said in a legal document.
It is reported that revenue has gone up 44% year-over-year to $91.7 million it is still well below what it was in 2019.
When was the last time you went to a movie theater? Leave us a comment and let us know.