Cinemark Holdings, Inc. Revenue Disclosure
Revenue Recognition Policy
The Company’s patrons have the option to purchase movie tickets well in advance of a movie showtime, right before the movie showtime, or at any point in between those two timeframes depending on seat availability. The Company recognizes such admissions revenue when the showtime for a purchased movie ticket has passed. Concession revenue is recognized when products are sold to the consumer at the theater, or if purchased online in advance, either through the Company’s website, its mobile application, or through a third-party delivery service, once the consumer’s order is fulfilled. Other revenue primarily consists of screen advertising, screen rental revenue, gaming
revenue, promotional income, studio trailer placements and transactional fees. Except for National CineMedia, LLC (“NCM”) screen advertising advances discussed in Note 8, these revenues are generally recognized when the Company has fulfilled its performance obligations by providing the services specified in each contract.
The Company sells gift cards and discount ticket vouchers, the proceeds from which are recorded as deferred revenue. Deferred revenue for gift cards and discount ticket vouchers is recognized when they are redeemed for concession items, or if redeemed for movie tickets, when the movie showtime has passed. The Company generally records breakage revenue on unredeemed gift cards and discount ticket vouchers based on redemption activity and historical experience with unused balances.
The Company offers a subscription program in the U.S., whereby patrons can pay a monthly or annual fee to receive a monthly credit for use towards a future movie ticket purchase. The Company offers similar subscription fee programs in several of its international locations where customers can pay a monthly or annual fee to receive benefits such as a free monthly movie ticket. The Company records subscription program fees as deferred revenue and records admissions revenue when the showtime for a movie ticket purchased with a credit has passed. The Company records breakage revenue for unused credits based upon redemption of subscription credits and historical experience with unused credits.
The Company has loyalty programs in the U.S. and many of its international locations that either have a prepaid annual fee or award points to customers as purchases are made. For those loyalty programs that have a prepaid annual fee, the Company recognizes the fee collected as other revenue on a straight-line basis over the annual membership period. For those loyalty programs that award points to customers based on their purchases, the Company records a portion of the original transaction proceeds as deferred revenue based on the number of reward points issued to customers and recognizes the deferred revenue when the customer redeems such points. The value of loyalty points issued is based on the estimated fair value of the rewards offered. The Company records breakage revenue for unredeemed loyalty points based upon redemption of loyalty points and historical experience with the expiration of unused points.
Accounts receivable as of December 31, 2024 and 2025 included approximately $29.8 and $31.2, respectively, of receivables related to contracts with customers. The Company did not record any assets related to the costs to obtain or fulfill a contract with customers during the years ended December 31, 2024 or 2025.
Disaggregation of Revenue
The following tables present revenue for the periods indicated, disaggregated based on major type of good or service and by reportable segment.
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|
Year Ended December 31, 2025 |
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|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Operating |
|
|
Operating |
|
|
|
|
|||
Major Goods/Services |
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Admissions Revenue |
|
$ |
1,266.0 |
|
|
$ |
278.7 |
|
|
$ |
1,544.7 |
|
Concession Revenue |
|
|
998.2 |
|
|
|
229.0 |
|
|
|
1,227.2 |
|
Screen advertising, screen rental and promotional revenue |
|
|
94.3 |
|
|
|
57.9 |
|
|
|
152.2 |
|
Other Revenue |
|
|
143.7 |
|
|
|
47.2 |
|
|
|
190.9 |
|
Total Revenue |
|
$ |
2,502.2 |
|
|
$ |
612.8 |
|
|
$ |
3,115.0 |
|
|
|
Year Ended December 31, 2024 |
|
|||||||||
|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Operating |
|
|
Operating |
|
|
|
|
|||
Major Goods/Services |
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Admissions Revenue |
|
$ |
1,233.1 |
|
|
$ |
289.4 |
|
|
$ |
1,522.5 |
|
Concession Revenue |
|
|
969.3 |
|
|
|
228.5 |
|
|
|
1,197.8 |
|
Screen advertising, screen rental and promotional revenue |
|
|
91.7 |
|
|
|
54.5 |
|
|
|
146.2 |
|
Other Revenue |
|
|
142.7 |
|
|
|
40.3 |
|
|
|
183.0 |
|
Total Revenue |
|
$ |
2,436.8 |
|
|
$ |
612.7 |
|
|
$ |
3,049.5 |
|
|
|
Year Ended December 31, 2023 |
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|||||||||
|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Operating |
|
|
Operating |
|
|
|
|
|||
Major Goods/Services |
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Admissions Revenue |
|
$ |
1,236.0 |
|
|
$ |
319.6 |
|
|
$ |
1,555.6 |
|
Concession Revenue |
|
|
952.0 |
|
|
|
240.0 |
|
|
|
1,192.0 |
|
Screen advertising, screen rental and promotional revenue |
|
|
91.0 |
|
|
|
53.6 |
|
|
|
144.6 |
|
Other Revenue |
|
|
136.3 |
|
|
|
38.2 |
|
|
|
174.5 |
|
Total Revenue |
|
$ |
2,415.3 |
|
|
$ |
651.4 |
|
|
$ |
3,066.7 |
|
The following tables present revenue for the periods indicated, disaggregated based on timing of revenue recognition (as discussed above) and by reportable segment.
|
|
Year Ended December 31, 2025 |
|
|||||||||
|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Reportable |
|
|
Reportable |
|
|
|
|
|||
|
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Goods and services transferred at a point in time |
|
$ |
2,395.6 |
|
|
$ |
537.8 |
|
|
$ |
2,933.4 |
|
Goods and services transferred over time (2) |
|
|
106.6 |
|
|
|
75.0 |
|
|
|
181.6 |
|
Total |
|
$ |
2,502.2 |
|
|
$ |
612.8 |
|
|
$ |
3,115.0 |
|
|
|
Year Ended December 31, 2024 |
|
|||||||||
|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Reportable |
|
|
Reportable |
|
|
|
|
|||
|
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Goods and services transferred at a point in time |
|
$ |
2,330.3 |
|
|
$ |
545.3 |
|
|
$ |
2,875.6 |
|
Goods and services transferred over time (2) |
|
|
106.5 |
|
|
|
67.4 |
|
|
|
173.9 |
|
Total |
|
$ |
2,436.8 |
|
|
$ |
612.7 |
|
|
$ |
3,049.5 |
|
|
|
Year Ended December 31, 2023 |
|
|||||||||
|
|
U.S. |
|
|
International |
|
|
|
|
|||
|
|
Reportable |
|
|
Reportable |
|
|
|
|
|||
|
|
Segment (1) |
|
|
Segment |
|
|
Consolidated |
|
|||
Goods and services transferred at a point in time |
|
$ |
2,327.9 |
|
|
$ |
588.9 |
|
|
$ |
2,916.8 |
|
Goods and services transferred over time (2) |
|
|
87.4 |
|
|
|
62.5 |
|
|
|
149.9 |
|
Total |
|
$ |
2,415.3 |
|
|
$ |
651.4 |
|
|
$ |
3,066.7 |
|
NCM Screen Advertising Advances and Other Deferred Revenue
The following table presents changes in the Company’s deferred revenue for the periods indicated:
Deferred Revenue |
|
NCM Screen |
|
|
Other Deferred |
|
||
Balance at January 1, 2024 |
|
$ |
328.4 |
|
|
$ |
221.6 |
|
Amounts recognized as accounts receivable |
|
|
— |
|
|
|
10.8 |
|
Cash received from customers in advance |
|
|
— |
|
|
|
376.0 |
|
Common units received from NCM (see Note 8) |
|
|
0.5 |
|
|
|
— |
|
Interest accrued related to significant financing component |
|
|
22.0 |
|
|
|
— |
|
Revenue recognized during period |
|
|
(32.4 |
) |
|
|
(353.7 |
) |
Foreign currency translation adjustments |
|
|
— |
|
|
|
(3.9 |
) |
Balance at December 31, 2024 |
|
|
318.5 |
|
|
|
250.8 |
|
Amounts recognized as accounts receivable |
|
|
— |
|
|
|
3.6 |
|
Cash received from customers in advance |
|
|
— |
|
|
|
391.6 |
|
Interest accrued related to significant financing component |
|
|
21.3 |
|
|
|
— |
|
Revenue recognized during period |
|
|
(32.6 |
) |
|
|
(380.2 |
) |
Foreign currency translation adjustments |
|
|
— |
|
|
|
(0.3 |
) |
Balance at December 31, 2025 |
|
$ |
307.2 |
|
|
$ |
265.5 |
|
The table below summarizes the aggregate amount of the performance obligations that are unsatisfied as of December 31, 2025 and when the Company expects to recognize this deferred revenue.
|
|
Year Ended December 31, |
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|||||||||||||
NCM screen advertising advances (1) |
|
$ |
12.0 |
|
|
$ |
12.8 |
|
|
$ |
13.7 |
|
|
$ |
14.7 |
|
|
$ |
15.7 |
|
|
$ |
238.3 |
|
|
$ |
307.2 |
|
Other deferred revenue |
|
|
233.7 |
|
|
|
31.8 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
265.5 |
|
Total |
|
$ |
245.7 |
|
|
$ |
44.6 |
|
|
$ |
13.7 |
|
|
$ |
14.7 |
|
|
$ |
15.7 |
|
|
$ |
238.3 |
|
|
$ |
572.7 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 28, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.