You will be redirected back to your article in seconds

Carlton, Cineworld fall out over ads

Revenue is declining, says CSA

The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract

Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for its decision.

The contract between Cineworld and CSA — which controls 75% of the cinema advertising market — expires January 2011. The next payment under the contract, for the six months to June 2008, is due Dec. 23.

Cineworld has agreed in principle to accept payment on a month by month basis while negotiations continue, but does not rule out legal action “if CSA fails to fulfil its obligations under the contract.”

CSA said in a statement: “Our contract with Cineworld is based on a long-term growth forecast of U.K. advertising revenues. However, due to a general slowdown of traditional U.K. advertising revenues, our forecasts have proven to be too optimistic. Therefore, we have approached Cineworld to propose an amendment.”

The chain, which has 758 screens at 73 cinemas, stressed that this year’s financial results will be unaffected. But analysts predict this will dent Cineworld’s revenues next year.

Sources suggest the CSA is seeking similar amendments with other exhib chains.

More Film

  • BAFTA Details Diversity Requirements for 2019

    BAFTA Details Diversity Requirements for 2019 Film Awards

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Wang Zhongjun Chinese movie mogul and

    Huayi Bros.’ Dennis Wang Makes Reassurances, Promises Stock Purchases

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Tiffany Haddish

    MTV Movie and TV Awards: 10 Standout Moments

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Michael B. Jordan

    'Black Panther,' 'Stranger Things' Reign at 2018 MTV Movie and TV Awards (Full List)

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Renny Harlin’s Extraordinary Entertainment Sets Deal

    Renny Harlin’s Extraordinary Entertainment Sets Deal With India’s B4U

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Michael B. JordanMTV Movie & TV

    Michael B. Jordan Jokes About Roseanne Barr After Winning Best Villain at MTV Awards

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

  • Judd Apatow

    Judd Apatow Calls on Fox Talent to Condemn Child-Separation Coverage

    The share price of Cineworld, the U.K.’s second largest loop, tumbled on Wednesday on news that ITV’s cinema commercials subsidiary Carlton Screen Advertising is renegotiating its advertising sales contract Cineworld’s share price fell 20.35% to £1.33 ($2.66) by close of trade in London after CSA cited “a general slowdown of traditional U.K. advertising revenues” for […]

More From Our Brands

Access exclusive content