With three weeks in the books, the fourth quarter has generated 73% of the revenues earned during the same period in the fourth quarter of 2019. The current run of strong October openings has allowed the industry to reach pandemic best comps for three consecutive weeks, over 70% when compared with the same weeks of 2019. The current year’s release schedule has worked in our favor and should continue with the upcoming release of ETERNALS. From that point, we will begin to see more challenging 2021 – 2019 comps through the holidays, with stiff competition from FROZEN 2 and STAR WARS EPISODE IX: THE RISE OF SKYWALKER.
We predict that by the end of this week, our four-week run rate comparison to 2019 will land at 75% or greater. With ETERNALS on the horizon, we also feel good about prospects through early November. However, after that point, the industry may have peaked for the year.