Investor Presentation
NCM is an Attractive and Unique Investment
1
2
3
4
5
6
Clear Market Leader
Exclusive, Long-Term
Agreements with Theaters
Most Significant Change since
Company's Inception
High Margins and Strong
FCF Generation
Robust Media
Industry Trends
Highly Resilient to Recessions
ā
ā
.
(1)
(2)
21,102 screens
650-700 million attendees
NCM captures approx. 71% market share across top 10 DMAS.
Approximately 20 years remaining on agreements with the three largest US theater circuits (AMC, Cinemark and
Regal).
54 exclusive agreements with additional Network Affiliate theaters.
Future proof advertising platform with improved inventory including 5 minutes of lights down inventory plus 60 second
Premium Platinum Spot.
>45% OIBDA margins
95+% unlevered FCF conversion driven by asset light business model with low capex requirements. (2)
Consistent growth in media advertising spending (7% CAGR from 2015-2019).
Projected growth of 8% in media advertising in 2020, before COVID-19 pandemic
Low cost of movie tickets makes cinema the live entertainment medium of choice in economic downturns.
All figures as of quarter ending March 26, 2020 unless otherwise indicated.
See slide 28 for further information.
INCM
NATIONAL CINEMEDIA
4View entire presentation