National CineMedia, Inc. (NASDAQ:NCMI) Q1 2022 Earnings Conference Call May 9, 2022 5:00 PM ET
Company Participants
Dan Dorenkamp - Finance Director
Ronnie Ng - CFO
Tom Lesinski - CEO
Conference Call Participants
Eric Wold - B. Riley
Mike Hickey - Benchmark Company
Jim Goss - Barrington Research
Operator
Greetings, and welcome to National CineMedia Incorporated Q1, 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Dan Dorenkamp, Finance Director. Please proceed, sir.
Dan Dorenkamp
Good afternoon. I'm joined today by our CEO, Tom Lesinski; and our CFO, Ronnie Ng. I would like to remind our listeners that this conference call contains forward-looking statements within the meaning of 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements, including our discussion about the future impacts of COVID-19, other than statements of historical facts communicated during this conference call may constitute forward-looking statements. These forward-looking statements involve risks and uncertainties. Important factors that can cause actual results to differ materially from the company's expectations are disclosed in the risk factors contained in the company's filings with the SEC.
All forward-looking statements are expressly qualified in their entirety by such factors. Further, our discussion today includes some non-GAAP measures. In accordance with Regulation G, we have reconciled these amounts back to the closest GAAP basis measurement. These reconciliations can be found at the end of today's earnings release or on the Investor Relations page of our website at ncm.com.
Now I'll turn the call over to Tom.
Tom Lesinski
Thank you, Dan, and good afternoon, everyone. Welcome to our first quarter 2022 earnings call. Q1 was our fourth straight quarter of strong year-over-year revenue growth with a significant upswing in advertising sales as millions of Americans once again returned to the movies. Advertisers are taking note of the Q4 '21 and the Q1 '22 blockbuster success of Spider-Man and the Batman.
In addition, this weekend smash opening of Disney and Marvel's Doctor Strange and the Multiverse of Madness opened with an explosive $187 million, and NCM had 24 of the top 25 theaters in our network. The success of these films clearly demonstrates the continued strong demand for the out-of-home communal experience that cinema uniquely provides.