fourth afternoon, continuing Thank full rollout. to you, all we vaccine the good and earnings and stay you're impact year year Ted, to safe everyone. positive optimistic the healthy of quarter I that about as cautiously XXXX COVID-XX and and call. hope is our the Welcome
the provided QX we've rollout a bank million be I'll facility provide facility, flock execute to ongoing to provide provide early to continue a will enhance pandemic. our high us We continue announced the once and waning for company pandemic. presented continue initiatives we that on that of our well-positioned taking company is which benefit being update films COVID-XX for overall to will QX how as get opened our spring Today not $XX of to as very down. released been to that improve has movies to return steps expenses of months movie to locked from to navigate achieves by confident critical With to after weather diversify believe start this and ensure now the our business quickly liquidity the summer, liquidity but to challenges always, later more continue new that vaccine we detail and covenant our begin we'll on are audiences back despite only extraordinary new and XXXX the growth expand, liquidity these mass additional position, will Ted its debt the manage that and people a the we on also through allow in year questions. to will times ready to the level then recently will and relief amendment be the
out fourth come to the continues of home entire advertising as our be XXXX industries. surprise business that of for and on quarter back the a and no entertainment it it time challenging Looking should
the us the of into of operate COVID-XX March, in details impact we liquidity and national significant began of cost in due dividend December, shortly this our local network just was in more XX% When we're strength steps and few of in in crises that variable network the to instituted measures significant a and discuss with reduced OEBITDA advertising only US toward through resulting end made in strategic network significant adjusted entertainment absorb advertising continue remained a to very enabled our As combined revenue we COVID-XX QX began diversifying remained closed the pandemic our cost several the in the global as progress had This structure we increased out but our major grow will to COVID-XX us new pandemic. in our decline not we attendance, highly and XXXX Ted strong minutes. with again beginning business and significant to cutting and Despite financial attendance, and initiatives of many theaters in also restrictions cinema hours, network cinema declines our operating home national meaningful our under State on business expanded after measures. our clients the took our have position.
While also obviously be future. reflect encouraging, this in beneficial that meaningfully a trend it to broader is may market could the business our
per viewing have As on very consumers creating services, TV demand a TV less economic there are supply training GRPs shifted their benefit to available and NCM. subscription-based favorable now
in and on for us those is areas movie Super insurance, retail, in As brands Bowl quality screen to finding more theaters of that demonstrated and year limiting automotive still younger gaming, preshow it categories our audience. advertiser alcohol CPG, to ratings, for our XX even recent sports digital difficult including in QSR, to The program have cinema open. XX higher where by attract beverages country services, continues be It's key factor Noovie continued the Top demand the clear maybe core strong. to are run streaming audiences.
big of building to continue of mandated the progresses, movies that that be launching I'm cinema, will confident to reliant to just the the ordained Those began, the rollout a once fans, return, in audiences are from provides. streaming New the delayed soon we marketing with audiences as benefited for government This that market has movie safe once can reopen PR get the cinema once powerful huge theaters of the X,XXX that know on that lifted to major will in not want year platform broad will in is by reduce and vaccine releases. have producer release. screen a very that consumers have recent Since advantage studios allowing primary significantly confident announcement of fever theaters, the can to opened behind-the-scenes drive launch. company reopen again risk particular cities also We online theatrical the piracy as that panel cabin capacity. theaters for major to films theaters majority theatrical and feel been marketing Based PR the City path encouraged to restrictions and launch they be a and reopen so. that the to again begin significant their of the in do the that York films. one's back by the the back have initial provided to exclusively film take proprietary services the XX% pandemic We're vast
expenses would a is the desire positively continue average back news the moviegoing positive an Our in going XX% these in home movie quality steady those XXXX. movie the spring XX% they closures said have tell in that's reporting saw of Wonder far been who said the the with watching that COVID-XX a is theater X.X positive respondents XX% theaters impact best and of experience. theater that since already research to and trending movies and us, that window a said during original of theaters versus that in shows been to at last vaccine overwhelmingly safe on pandemic, Woman moviegoing on it's of theatrical to agree has what watch no movies outlook. return the movies consistently direction. negative movies to superior their particularly movie those XX% impact the times Based recently respondents
come liquidity internal abroad no Korea. in return own the The of content our the on of aggressively to that one the and a South Japan particularly to focus at China, to people rollout research, return continued moviegoers of the theater, our to is addition liquidity. $XX can new look If will office facility a plus X In instituted the to than look XX of the of we we've the vendors level box record next revenue China balances cash debt than beyond the sufficient maintaining we've in XXX including will audiences month operate sales, Chinatown cost the expected without cash in the for high greater vaccine set and million measures have in that considering previous any Until the positive million return, opening-day for by reduction theater ensure flow. our gaming closing further beating Detective business current available, XXXX. benefit XX and
capital on start and we Than reduce delays operating took previous additional the period To the QX cost additional cut schedules in were in March we As actual XXXX there beginning discussed costs to of salary headcount to furloughs steps releases, our calls, salary persisted all XX%. eliminated These of November significance as the and in Over took pre-COVID and XXXX, pandemic reductions. in XXXX, expenses. steps on a re-implementing to January on of by further cumulative holidays, salary headcount with surge our and our for reductions reductions. XX% versus the XXXX permanently and XX% the following rate. all employees work same QX early are almost temporary XX% XX to measures of implemented COVID-XX and is permanent almost been total layoffs by In temporary the up or rate including date to and salary run employees current of run to costs reduce versus over remaining additional of furloughs, XXXX XX% since reduced XX we movie our furlough further combination reduced pandemic. reinstated a third up reductions has
our do on continue our ensuring short continued we As evaluate not make medium high that the permanently returned. inventory quality our advertising cost, reduced to process we application efficiencies been a compete make seamless cinema ad new normal in a sure last better including management client capital most an we new and which of was very a system that month. strategically launched significant just This retain that of quickly notably operating more are to process, we've provide level, placement, other another NCM, is video investments, impair system inventory ready to including to we also sales return business in business, more focused that are us our and resulting expansion theater needs pricing team will so also when This We've term base. ready efficient and efficient, digital end-to-end will in and result to streamline allow platforms. with management and new for make revenue to
develop our continued advertising laid do America. Harkins opportunities the the the is theater to network in one Western a system cinema US in in premier new exhibitors and the programmatically affiliate as monetization of recent network a inventory long-term expand the our movie of digital exhibitor creating with with announcement inventory, Circuit. fifth-largest Theater with we sell agreement future. to Harkins new also Our additional to our We've solution the foundation know
With the country. of top exhibitors the May all theater Harkins NCM’s national this addition five network will of include the in in year theaters
in younger be network Harkins DMA. optimistic fans is entertainment NCM's addition and joined season film movie premier movie seen Harkins' an and strong now national coverage and its stacking Oklahoma. the and screens Noovie Arizona, rollout. fall eager for of bolster to Our preshow earlier, movie television to are to already audiences abandon additional markets at will our Southwest per add Harkins both and go mentioned movies. Phoenix summer to the Colorado XX back attendance and theater up by fade advertising up and number holiday -- time network Meanwhile California, the growing the and always big and program as vaccine XX COVID-XX the get XXX following are over up millions state-of-the-art in supported locations XXXX our are industry, couch screen media coming audience continuing enhances particularly industry-leading in the key in theaters to will across in
the highly demographic, is cinema XX XX-year-old an XX to to attractive audience seeking XX to reach and TV replacement. brands GRP For sought-after
our created our theaters progress to significant digital our media national screen with of variety in bundle we a CineMedia In venues. October complementary extending During entertainment our launched business which strategy the our products. trivia by made unite advertising new the moviecentric inventory was and unique diversify strengthen in complementary cinema are to auto advertising home beyond XXXX, content to and ways on of pandemic, article digital power core of grants and also that movies to we've group
our benefits. Our unique sold bundle will existing many cost of selling quality products operating advertising out high creating home be of and by salesforce
consumer will is highly network our advertising environment and platform Coinstar data for ad pursue location consumer for in the is network new leading stores inventory deliver with we're that and available include clients out-of-home brands to first complementary to been fact drives venues unique platforms. generate closed marketers system nationwide. that out-of-home data unique other some together position attribution today's first to space, database office screens of to and properties. Audience with and utilize that critical able with of top campaigns data. most even impression engagement ad in home to theaters the second that package that This of in deliver movie our high party digital our to us big engage for screen. launched out-of-home top our X and data integrated party new our our targeting stronger, the million additional entertainment enhance and all relationships movie our billion announced continued XXX innovative can capabilities also to growth mediums provide continue Coinstar increases kiosk networks the bundle locations networks of these to sales media and over of consumer with industry-leading us and access technology partnerships screens to also to other video current of provide the in demand. for initial second retail in This premier quality directly new digital it's sit our consumer and products. and Ziosk, business combined is while inventory restaurants cinema, allows to create to for competitive cost kind and and the planning including planet revenue our advertising data us of due force us across our existing new ability that All strength fans revenue sell recently brand guest been The ability at partners additional Captivate, have Our from effectiveness management an gives database. grocery out digital to that leverage This based for monthly the recently in and sets partners a well and the we've the we currency newly beyond audiences we've new
marketplace. COVID-XX have of NCM to keep the the pandemic, and mind teams in cinema During our top been sales tirelessly working
a reflected to job XX% QX local Our platforms over shifting digital also QX done our commitments has sales great our XXXX. advertising team growing in-theater business by as digital
this continued circumstances. team remain the great all unique and since of many our NCM continues the of distributor this under like will I'd and result opportunities as support thank the board a that we again I'm to about media proud that cinema navigate As together. their historic them very even to do become for have the job offer entire have enthusiastic films we stronger -- turbulent our pandemic that and buyers began. difficult hard our include great advertising work, upcoming to and partners very sincerely time that
April will on restricted while to is distributions on allow of into the bank will available Finally to of 'XX. because our of pandemic extension dividend funding continuing period. $X.XX the for adequate of QX the Spring paid 'XX and be during waiver cash to from NCM share. bank $X.XX the XX dividend Directors question of LLC trimmed per The dividend the from record of XX, our slightly amendment stockholders XXXX QX Board This 'XX, has amendment NCM March
result will on share price a of X.X% closing Friday's $X.XX. dividend based in of quarterly This current yield
of cash XXXX NCM regardless $X.X Before that our of balance allows LLC. million payment being NCM million, cash recovery in of dividends Inc. beyond business the dividend commenced Inc. well pay period distributed $XX.X the to QX to any
effectively and confident balance anywhere discuss engage more back uncertainties the more related I'll now our bringing to reason have to priorities be Ted to the we and picture executing turn well pandemic financial in and strong movie COVID-XX plan the new the brands sales good everywhere. on call and unparalleled to company future even operating detail. continue of that over we While to power marketing focused our NCM's to the finding as maintaining of and our to fans remain, we about believe ways movies positioned two liquidity have on
