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AMC Entertainment CEO and Chairman Adam Aron talks to Liz Claman of FOX Business about his company’s grand reopening, saying they have sold their limited capacity almost all over the country.
Coming soon to an AMC theater near you: an exclusive private screening.
The cash-strapped movie theater chain kicked off its nationwide private theater rental program on Tuesday after its initial test program in October attracted interest from 110,000 moviegoers, which more than quadrupled requests. rental of AMC rooms in 2019.
The surge in interest marks a positive sign for the country’s largest movie theater chain, which is still trying to recover after its theaters were closed for months to stem the spread of the coronavirus.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 3.48 | -0.29 | -7.69% |
AMC rents theaters for $ 99 amid pandemic recovery plans
In its latest attempt at survival, AMC is now allowing guests to book a private screening for up to 20 people at any of its 600 theaters across the country for a starting price of $ 99.
For new releases such as “Tenet” or “The War with Grandpa,” prices start at $ 149 plus tax, up to $ 349 plus tax, depending on location and theater, AMC said. The cost covers up to 20 tickets, but does not include food or drinks.
THEATER CHAIN AMC SAYS IT COULD RUN OUT OF CASH FLOW BY YEAR END
As customers return to the theater, AMC says its program “will strictly enforce” the company’s Safe & Clean policies and protocols. This includes mandatory masks and appropriate social distancing within the auditorium, according to AMC. Depending on state and local guidelines, some theaters may limit the number of guests to less than 20 guests.
The company has faced a significant financial impact after local governments discouraged large gatherings to stem the spread of the coronavirus. Although AMC began bringing back customers in August, the company revealed last month that it could run out of cash by year-end if it couldn’t bring back moviegoers or raise additional funds. , reported the Wall Street Journal.
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As of September 30, AMC had already resumed operations in 467 national theaters with limited seating capacities of between 20% and 40%.
“The magnitude of the impact of the global pandemic on the theatrical exhibition industry was again evident in our third quarter results, as theatrical operations in the United States were suspended for nearly two thirds of the quarter.” , said AMC CEO Adam Aron.
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Consumers can book private screenings online or using the AMC Theaters mobile app. However, rentals must be made at least one day in advance “and are subject to availability at the theater,” AMC said.
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