AMC Finds a Way to Survive-and You Can Benefit

21 Octobre, 2020, 04:55 | Auteur: Christine Menetries
  • AMC Offers a Personal Movie Theater Experience for $99

Entertainment Holdings Inc, the world's largest theater chain, said on Monday it plans to open more cinemas in the United States this week, offering some hope to an industry hammered by pandemic restrictions and sending its shares up 24 percent.

Starting at $99, moviegoers can reserve an entire AMC auditorium. According to its website, rates start at $99, excluding tax, and increase to $349 depending on the movie, the theater's location, and any other add-ons like food and drink.

The number of people visiting AMC's cinemas has slumped 85 percent compared to a year ago, since they reopened after lockdowns were eased, the company said.

Even if they could open, many studios are delaying the release of their films until further notice.

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The company blames these losses on having shut its theaters to mitigate the spread of the virus.

According to a Nielsen report, staying at home can lead to a 60 percent increase in streaming activity.

'We have to prepare for the inevitability that one, or more, of the major chains may not survive if this situation continues to lurch into next summer, ' Bock told CNN.

The company said it will reopen about a dozen locations in NY state starting October 23, following guidance from Governor Andrew Cuomo over the weekend, and plans to have more than 530 theaters open in the country by the end of the month.

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