National CineMedia Swings to Q3 Loss Despite 16% Attendance Rise

National CineMedia reported third-quarter revenue of $61.4 million, down 3.2% year over year, and a net loss of $17.2 million, compared with net income of $1.6 million a year earlier; adjusted OIBDA fell to $3.3 million from $10.2 million. Cinema advertising revenue declined 7% even as attendance rose 16%, as stronger attendance came late in the quarter, when advertiser demand was softer, and major media events including the FIFA World Cup drew spending away from cinema. The company said six major national advertisers’ budget shifts reduced cinema commitments by about $9 million, while revenue per attendee fell 25%. NCM forecast fourth-quarter revenue of $117 million to $124 million and adjusted OIBDA of $42 million to $48 million, citing a stronger movie slate and a full quarter of contributions from Captivate, its recently acquired office and residential advertising network. Management also highlighted cost savings and acquisition synergies, while CEO Tom Lesinski said he plans to retire at year-end.