Cineworld and AMC Entertainment react as No Time to Die breaks UK box office records

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Cineworld Group PLC (LSE:CINE) shares did not even enjoy 0.007% improvement despite the latest Jame Bond film, No Time to Die, breaking box office records.


The final 007 film with Daniel Craig in the title role raked in more cinema takings on its opening weekend than any other film in the Bond franchise’s history.


Released jointly by Universal Pictures and MGM, the film has amassed gross box office takings of US$119mln (GBP88mln) across 54 international markets, including close to GBP26mln in the UK and Ireland.


This makes it the top box office film of the year after only four days in cinemas.


On Friday, it was reported to have bagged up to GBP5mln for its first day in the UK, setting it up for a strong weekend, where the three days to Sunday night hit a record GBP21mln.


A big event for Cineworld’s Regal cinemas in the US and rival AMC Entertainment Holdings (NYSE:AMC) will be No Time to Die’s launch in US movie theatres on 8 October.


Universal Pictures said Craig’s Bond swansong is performing 17% below his previous appearance in the role in Spectre, which grossed US$880m in global box office takings, but is in line with 2012’s Skyfall, which went on to make US$1.1bn globally.


But it is calculated that a fifth of cinemas around the world are still shut due to the pandemic.


Cineworld shares were down 2% to 77.36p by Monday lunchtime, though pre-market trading pointed to AMC’s opening almost 1% higher at US$38.74 later.


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