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New words:
actor, conclusion, coupled, de, Docket, lender, reconciliation, retroactively, slate, threshold, unsatisfied, workforce, writer
Removed:
accepted, acquire, adversary, affirmative, aforementioned, agency, amortized, announced, annum, appointed, approval, automatic, awarded, breaching, bringing, broker, burden, certificate, chosen, closed, collateral, commencing, commercial, committee, complaint, comprised, conduct, confidentiality, conflict, consent, consistent, contemplated, continuing, declaratory, depend, deposit, dilution, disposal, driven, EBITDA, education, eligible, employee, enforcement, enter, entering, exercisable, exercise, exist, extending, extension, face, favorable, floor, forward, founding, fourth, fulfill, funded, funding, generate, government, healthcare, hearing, hedging, holiday, immaterial, implement, index, influence, injunction, intend, intended, Interbank, internet, jurisdiction, lending, lessen, leverage, LIBOR, light, liquid, London, making, mandatory, meaningful, motion, negotiating, netted, obtain, occurrence, October, offered, optional, originally, outcome, paper, parent, permanent, placement, planned, played, pledged, policy, positive, preferred, premium, prepetition, private, prohibiting, pursue, range, realization, recipient, recovery, reduce, Reform, registered, reject, relating, relief, remain, restrict, retail, scheduled, seek, seeking, September, Shuffle, size, strategic, structure, substantial, successfully, suspension, temporary, terminate, thereof, trading, tranche, transition, Trivia, trustee, ultimate, unable, uncertainty, unrealized, unrestricted, unused, vesting, voting, waiver, withholding, worked, yield
Financial report summary
?Management Discussion
- (1)Represents the total attendance within our advertising network, excluding screens and attendance associated with certain AMC Carmike theaters that were part of another cinema advertising network during the periods presented.
- National advertising revenue. National advertising revenue increased by $7.0 million, or 31.1%, from $22.5 million for the first quarter of 2023 to $29.5 million for the first quarter of 2024. The increase in national advertising revenue was primarily due to a 61.6% increase in national advertising utilization in the first quarter of 2024, as compared to the first quarter of 2023 as well as a 1.2% increase in national advertising CPMs. Inventory utilization is calculated as utilized impressions divided by total advertising impressions, which is based on eleven 30-second salable national advertising units in our Noovie show, which can be expanded, should market demand dictate. These increases were partially offset by a 15.8% decrease in network attendance due to a decreased movie slate in the first quarter of 2024 compared to the first quarter of 2023, caused by the writer and actor strikes in 2023.
- Local and regional advertising revenue. Local and regional advertising revenue decreased by $2.7 million, or 33.8%, from $8.0 million for the first quarter of 2023 to $5.3 million for the first quarter of 2024. The decrease in local and regional advertising revenue was primarily due to a 15.8% decrease in network attendance due to a decreased movie slate in the first quarter of 2024 compared to the first quarter of 2023, caused by the writer and actor strikes in 2023, coupled with a decrease in local and regional advertiser demand. These decreases were partially offset by 3.7% increase in CPMs in the first quarter of 2024, as compared to the first quarter of 2023.