National CineMedia, Inc.

National CineMedia, Inc. (NASDAQ: NCMI) operates as the largest cinema advertising platform in the United States, connecting national, regional and local advertisers with moviegoing audiences through premium video advertising and entertainment content. The company's primary revenue source derives from selling advertising inventory across its extensive theater network, supplemented by lobby entertainment and digital out-of-home advertising products.

The company's flagship offering, The Noovie Show, is presented exclusively in 41 leading national and regional theater circuits including all three major chains: AMC, Cinemark and Regal. As of January 1, 2026, NCM's advertising network encompasses more than 17,000 screens across over 1,300 theaters in 184 Designated Market Areas, including all top 50 markets. In November 2025, NCM expanded its reach by acquiring Spotlight Cinema Networks, a specialized cinema advertising company serving art house, luxury and dine-in exhibitors, adding more than 1,200 screens across 200 additional theaters and increasing national market share by over six percent.

NCM generates revenue through multiple channels including on-screen advertising sold on a cost-per-thousand-viewers basis, the Lobby Entertainment Network featuring strategically placed lobby screens, and complementary promotional opportunities. During 2025, approximately eighty percent of advertising revenue came from national clients, with the remainder from regional and local advertisers. The company also operates NCMx, a data and analytics platform enabling audience targeting and retargeting across multiple screens and venues, along with digital out-of-home products extending reach beyond theaters to convenience stores and college campuses.

The company maintains long-term exhibitor services agreements with major theater chains, with weighted average remaining terms of approximately 15.6 years as of January 1, 2026. NCM operates through its subsidiary National CineMedia, LLC, which manages all business operations. The company employs 248 full-time employees based primarily in Centennial, Colorado, with additional offices in New York, Los Angeles, Chicago and Detroit. More than 403.8 million moviegoers attended theaters presenting NCM's programming during 2025. The company's website is www.ncm.com.