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Cinemark, ESPN Team up to Show College Football Playoffs

The college football semifinal and final playoff games will be shown at Cinemark theaters around the U.S. Dec. 31 and Jan. 10.
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Beleaguered movie theater chain Cinemark  (CNK ) - Get Cinemark Holdings, Inc. Reporthas an idea to boost sagging attendance.

It’s teaming up with Disney’s  (DIS) - Get Walt Disney Company Report ESPN to broadcast the college football playoff semifinal and final games in its theaters across the country.

No. 1 Alabama plays No. 4 Cincinnati in one semifinal Dec. 31 at 3:30 p.m. ET. And No. 2 Michigan takes on No. 3 Georgia right afterward. The winners play for the championship Jan. 10 at 8 pm ET.

Cinemark recently traded at $16.57, up 2%. It has slumped 25% in the last six months.

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Meanwhile, this weekend proved that people are still willing to go see a movie in theaters, as long as that movie has Spider-Man in it.

That confirms the pandemic-era trend where superheroes, action franchises, and little else will bring people back to AMC Entertainment AMC and Cinemark.

“Spider-Man: No Way Home” had the best box office total since the pandemic began, bringing in a record-breaking $253 million in North America. This is the second biggest debut period, right behind “Avengers: Endgame” in 2019, which brought in $357 million.

The film, which was jointly produced by Sony (SNE) and Disney has yet to open in China, the world’s biggest film market, but still managed to bring in $601 million in its opening weekend globally.

The well-reviewed film, starring Tom Holland as the wall-crawler and Zendaya as his love interest MJ, was expected to have the biggest weekend haul of the year, as some analysts were predicting a total of around $150 million, according to Variety.