Tag Archives: ticket sales

UT beats Florida in Forbes college basketball rankings

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Florida may be the overall No. 1 seed in the NCAA mens basketball tournament, but the University of Tennessee is a much more valuable team, financially speaking.
UT is a sparkling No. 15 on Forbes’ 2014 list of the most valuable college basketball teams, with a team value of $14.1 million and a profit of $8.5 million.
Among its Southeastern Conference foes, the Vols trail only Kentucky, NO. 3 on the Forbes list with a team value of $32.5 million. But UT is well ahead of the Gators who finished outside Forbes’ Top 20 with a team value of $10 million +.
The financial details for the current rankings are from the 2012-2013 season and come from the U.S. Department of Education database, says Forbes, which published its 2014 list on Monday.
Ticket sales, alumni contributions, parking and concessions and NCAA tourney payouts are among the revenue sources cited by Forbes.
“Unlike our professional sports valuations, our college basketball values don’t represent what a team would sell for on the open market; as college teams, they obviously cannot be bought or sold. Instead, we use a weighted methodology to determine how much value the top college basketball teams generate for their athletic departments, universities and fellow conference members,” Forbes’ writer Chris Smith reports.
No. 1 on the Forbes list for the third straight year is Louisville with a team value of $39.5 million and a sizzling profit of $24.7 million.
The Vols lofty Forbes ranking continues to benefit from the tournament payout earned by the 2010 team, which made the NCAA Elite Eight and came within a whisker of the school’s first Final Four.
The Vols play their first NCAA tournament game since 2011 on Wednesday when they go up against Iowa.
Click here for the Forbes report.

Regal Entertainment gets ‘Iron Man’ boost

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Blockbuster film “Iron Man 3” is giving Regal Entertainment
Group a major boost following the movie theater operator’s rather drab first
quarter.

The super hero flick starring Robert Downey Jr. produced opening
weekend ticket sales of $174.1 million in the U.S. and Canada, second largest
of all time.

In the first 12 days of release, the movie has delivered a
monster box office of $678.9 million worldwide, according to Hollywood.com.

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Second quarter slump for Regal?

twilight_atb_12.jpgRegal Entertainment Group’s second quarter earnings report may not be as robust as the first quarter.

 So says the Wall Street Cheat Sheet.

The financial media company says domestic second quarter movie ticket sales didn’t live up to expectations and it is lowering revenue estimates for Knoxville-based Regal and other movie exhibitors.

Regal is now expected to report revenue of $729 million for the quarter, down from earlier projections of $762 million.

The Cheat Sheet cut its projected second quarter earnings per share for Regal to 20 cents from 31 cents.

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‘Avengers’ produces record box office for Regal

dd3c84569636b00c0e0f6a7067009af0.jpgOpening weekend for the super hero movie “The Avengers” produced super ticket sales for movie theater operator Regal Entertainment Group.

The action film “earned an unprecedented $42 million in gross admissions revenue,” the Knoxville-based company said Monday.

The ticket total beat “previous company and domestic exhibition records,” according to a news release.

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