Select Hollywood movies, FIBA World Cup boost SM Prime’s earnings

MANILA, Philippine – High ticket sales from select movies and live events such as the FIBA World Cup 2023 helped boost publicly listed firm SM Prime Holdings Corporation’s (SM Prime) revenues in the first nine months of 2023. Although revenues from its cinema operations and live events ticketing contribute only a small part to SM Prime’s mall business, its topline from this business unit went up from P3.5 billion in the first nine months of 2022 to P7.65 billion in the same period in 2023, or an increase of 119%. The P7.65 billion already exceeds SM Prime’s revenues from cinema and event ticket sales of P6.87 billion in the same period in 2019 or before the COVID-19 pandemic shut down…