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AMC Entertainment, which recently reported a quarterly loss of $ 905.8 million, is launching a private theater rental program in hopes of reversing declining revenues.
The program was unveiled on Tuesday, four weeks after the initial beta launch of the product, which resulted in 110,000 requests nationwide. The company said the number of contacts regarding a private rental over a four-week period was reached without any significant marketing or press announcements, and was more than four times the total amount of AMC’s private room rentals. in 2019.
Customers can rent a screening at any of AMC’s 600 screening rooms nationwide for as little as $ 99 for up to 20 customers. Recent versions such as “Tenet”, “The War With Grandpa” and “Freaky” are available from $ 149. In accordance with AMC policy, outside food and beverages cannot be brought to the screening.
AMC said that all show times at all venues strictly enforce AMC Safe & Clean policies and protocols, including mandatory mask wear and appropriate social distancing in the auditorium. The total number of guests allowed may be less than 20 to comply with national and local guidelines.
Elizabeth Frank, Executive President of Global Programming and Director of Content, said: “The results and feedback from our clients on AMC Safe & Clean has been overwhelmingly positive, and Private Theater Rentals at AMC provides an additional layer of security for those. -this. moviegoers looking to see movies with only family and friends. It is unprecedented for AMC to receive 110,000 contacts in four weeks regarding a private theater rental, based solely on word of mouth and organic advertising, and we are delighted and appreciate the interest this has generated. among AMC guests.
AMC on Nov. 2 reported a 90.9% drop in revenue in the most recent earnings period to $ 119.5 million. On the same day, he filed a request to sell shares to Citigroup Global Markets and Goldman Sachs to raise $ 47.7 million in cash to stay open and warned on October 20 that he may have to file for bankruptcy. 11 if it cannot obtain additional sources of liquidity. .
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