Shares in Cineworld soar as industry receives James Bond bounce with latest film No Time To Die set to debut
Shares in Cineworld soared as the industry received a James Bond bounce.
The stock rose 8.5 per cent, or 11.88p, to 80.02p – its highest since early July – as film fans get ready to flood back to the big screens for the latest 007 hit.
The rally came as rival Odeon, which is part of AMC Theatres, predicted its biggest opening for two years when the 25th Bond film No Time To Die hits the screens on Thursday.
Shaken and stirred: Cineworld stock jumped 8.5 per cent – its highest since early July – as film fans get ready to flood back to the big screens for the latest James Bond hit
More than 175,000 tickets have been sold for the film in the past two weeks, and over all cinema attendance this month is expected to be a tenth higher than in September 2019 before Covid struck.
Starring Daniel Craig, the Bond blockbuster, which was due to be released in April 2020, but has been delayed several times as the pandemic pushed cinemas to the brink. Some were shut for as long as 16 months between March 2020 and August 2021 due to restrictions and the dearth of new releases.
But on September 30, No Time To Die will open in over 700 cinemas across the UK and Ireland, making it the largest release of the year.
Some 7m customers have returned to Odeon cinemas since they reopened in May.
But in a sign that Bond is bringing more back, the chain said two-fifths of tickets sold so far have been to those who have not been to the cinema since the start of the pandemic.
Carol Welch, Odeon’s UK managing director, said the return of Bond marked ‘another significant milestone’ in the industry’s recovery