Showing films is where Cinemark Holdings really makes its mark. The third-largest movie exhibitor in the US (following
) has more than 5,700 screens in almost 515 theaters in the US and Latin America. Cinemark operates its multiplex theaters in smaller cities and suburban areas of major metropolitan markets. Some larger theaters operate under the Tinseltown name; others are "discount" theaters showing no first-run films. Nearly 100% of its first-run auditoriums feature stadium seating. The company prefers to build new theaters in midsized markets or in suburbs of major cities where the Cinemark theater is the only game in town.
Cinemark operates theaters in more than 40 US states, as well as Argentina, Brazil, Mexico, and 10 other Latin American countries. The company gets about 75% of its sales from the US market.
Despite a down economy, people still flock to the movies. Cinemark reported $2.85 billion in revenue for fiscal 2015. That was an increase of 9% compared to its revenue the previous fiscal year. The company's net income was $216 million in fiscal 2015, which was an increase of 13% compared to the prior fiscal period.
The company's cash on hand remained strong in fiscal 2015. Cimemark reported $455 million in cash on hand at the end of the year.
The company's strategy focuses on international expansion primarily in Latin America through construction of modern, state-of-the-art theatres in growing urban markets.
Its adoption of the 3D format is just one way in which Cinemark focuses on being one of the most modern and technologically advanced movie chains. The company has developed a large screen digital format, XD Extreme Digital Cinema, or XD. The format includes wall-to-wall and ceiling-to-floor screens, wrap-around sound, and can play any available digital print.