2012 Brings Record Year for Box Office Revenue
2012 Brings Record Year for Box Office Revenue
Increased Attendance Was Primary Growth Driver
KANSAS CITY, Mo.--(BUSINESS WIRE)-- EPR Properties (NYS: EPR) today announced that box office revenues reached a record $10.8 billion in 2012, a 6% increase over 2011 according to Box Office Analyst. Additionally, admissions (tickets sold) reached 1.33 billion, a 4% increase over 2011. Average ticket prices are estimated to have increased 2% to $8.09.
Organized as a real estate investment trust (REIT), EPR Properties owns 117 megaplex theatres within its Entertainment portfolio and for more than 15 years its tenants have included premiere motion picture exhibition companies. Trends such as premium seating, expanded food and beverage concepts, digital and 3D projection, along with satellite delivery of sports and live concerts continue to enhance the consumer experience. The Company sees these trends growing and has evolved its investment strategy to include some combination of these elements at almost every location it owns.
Company President and CEO David Brain commented, "2012 was an outstanding year for cinema and demonstrated the resiliency of the category. We were pleased to see strong revenue growth driven by increased ticket sales. Our tenant partners recognize the importance of offering high quality motion picture content combined with an outstanding consumer experience and we're excited about the continued evolution of the experience and the upcoming 2013 box office potential."
ABOUT EPR PROPERTIES
EPR Properties is a specialty real estate investment trust (REIT) that invests in properties in select market segments which require unique industry knowledge, while offering the potential for stable and attractive returns. Our total investments exceed $3.1 billion and our primary investment segments are Entertainment, Recreation and Education. We adhere to rigorous underwriting and investing criteria centered on key industry and property level cash flow standards. We believe our focused niche approach provides a competitive advantage, and the potential for higher growth and better yields. Further information is available at www.eprkc.com.
EPR Properties
Brian Moriarty, 1-888-EPR-REIT
Vice President - Corporate Communications
brianm@eprkc.com
KEYWORDS: United States North America Kansas Missouri
INDUSTRY KEYWORDS:
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