Though the financial news hasn’t been good for movie theaters, the chairman of AMC Entertainment is positive. Despite bad quarter earnings, the losses weren’t as bad as expected. This meant that MC gained from its stock. AMCs journey isn’t over after the pandemic and the brand continues to revive. While there are no guarantees to what futures will be like, it is envisioned that AMC will also have a happy Hollywood ending. The survival journey of the brand is commendable. And, even though it sought bankruptcy speculations, it aims to revive its finances.
Mandatory Credit: Photo by Orlin Wagner/AP/REX/Shutterstock (5768491a)
People enter AMC’s Studio 30 theater
AMC Theatres Odeon and UCI, Olathe, Kansas, USA – 11 May 2005
AMC Theatres is buying European movie theater operator Odeon & UCI Cinemas Group in a deal valued at about 921 million pounds ($1.21 billion). AMC says, Tuesday, July 12, 2016, that the transaction will make it the biggest movie theater operator in the world. Odeon & UCI has 242 theaters in Europe. The deal will give AMC a total of 627 theaters in eight countries.
However, the simple formula that AMC follows as of now is higher AMC ticket prices and limited showtimes.
A complete AMC ticket price on average is $10.50 all over the country, showcasing an increase of 50 cents. Concession prices are also high. Theaters preferred to moderate the hike in the prices, but in order to make the situation work; AMC increased the price and lowered the showtimes. Rather than running all seven days in the week, and the last show beginning at 10 pm, now it prefers to start the last show at 8 pm.
AMC Apes are champions and disabled
AMC stock has become a personal favorite of the non-conventional trading firms who hover around struggling companies and are disliked by short-sale investors. The AMC Apes have been the major reason to rebound.
The Apes have major power and when the CEO desired to sell more shares in the company, they protested.
Sooner or later- AMC looks out for more acquisitions
The acquisitions of AMC, Glendale 18 in Los Angeles as well as Pacific Grove 14 are likely to reopen this month. Both are amazing theaters and are expected to soon revive. The brand plans to open on 8 more additional sites include one in Los Angeles, one in Atlanta, and two in Chicago.
With more and more acquisitions, the business is soon going to revive. Post-pandemic, the entertainment industry suffered a lot. However, with decent openings at the right locations, the losses can be revived.
Optimism goes a long way
Aron, the CEO hopes that the cash flow will turn positive by the fourth quarter of 2021, depending on the estimations that the domestic box office collection will collect over $5.2 billion in 2021. However, till the time, the calculations showcase an income of $ 1.78 billion. So, it leaves the coming time with a hope to earn $3.4 billion. In the past few weeks, only Black Widow collected a whopping 170 million in two weeks of its release. Other than that, no such movies showed a good box office response.
AMC movies are known for their class, services, amenities and giant models. The businesses aim for revival sooner or later. However, the brand continues to enjoy amazing power amongst people and soon hopes that newer movies will enhance its business in the coming time. With ticket prices going up, and better services getting available, it will notice an amazing growth in the upcoming quarter.