Cinépolis gained market share from Cinemex in the movie theater industry in Mexico in 2022 compared to 2019, the year before the Covid-19 pandemic.
After achieving a market share, measured by the number of movie theaters, of 52.4% in 2019, Cinépolis increased this coverage to 54.4% in 2022.
On the contrary, Cinemex lowered its participation from 40.1 to 38.0%, in the same comparison.
The other participants in the movie theater business in Mexico also recorded a drop in their market share from 7.5 to 7.4 percent.
Cinépolis operates under four different brands that range from ultra-premium to extreme value segments.
Cinépolis
The company was the first movie exhibitor in the world to pioneer the concept of premium and luxury movie theaters through its Cinépolis VIP brand.
Cinépolis aims to provide its customers with the best overall experience in filmed entertainment and employs a global workforce of approximately 35,000 people to support its mission.
Founded in 1971, Cinépolis’ global headquarters is located in Morelia, Mexico.
For its part, Cinemex is the fifth largest cinema chain in the world, measured by number of theaters.
The pandemic
In 2020, Covid-19 dramatically affected the trade, manufacturing and investment sectors of some of the world’s major economies.
Domestic measures to combat the spread of the pandemic, such as repeated periods of restrictions on non-essential economic activities (especially in the service sector) and social mobility, and sharp declines in exports and oil prices, caused a general deterioration in market conditions and a weaker and more volatile global economy.
In 2021, the economic recovery in Mexico generally remained slow due to a number of factors, including new restrictions enacted to combat year-round Covid-19 outbreaks, supply chain disruptions, a temporary interruption in supply of natural gas from northern Mexico in the first quarter, a reform to the Federal Labor Law regarding labor subcontracting (which negatively affected the service sector), and a shortage of semiconductors that prevented the manufacture of computers, communications and measurement equipment.
In the first quarter of 2022, after a slight expansion during the second half of 2021, economic activity in Mexico recorded growth, driven mainly by improvements in manufacturing and services activities, despite a rebound in Covid infections -19, the persistence of the global supply chain, and economic disruptions and uncertainty resulting from the conflict between Russia and Ukraine.