AMC Entertainment Posts Its Highest Weekend Attendance and Admissions Revenue of 2024 – In the U.S. and Globally – And Its Highest Weekend for Food & Beverage Revenue in the U.S. Since 2019

Rhea-AI Summary

AMC Entertainment (NYSE:AMC) reported record-breaking performance for the weekend of April 25-28, 2024, driven by the release of DEADPOOL & WOLVERINE. Key highlights include:

1. Over 6 million moviegoers attended AMC and ODEON cinemas globally.

2. Highest weekend attendance and admissions revenue of 2024 in the U.S. and globally.

3. Best U.S. food & beverage revenue since 2019, including record-breaking MacGuffins bar sales.

4. DEADPOOL & WOLVERINE set new AMC records for a rated-R film's opening weekend attendance and admissions revenue.

5. Complete sellout of DEADPOOL & WOLVERINE merchandise, becoming AMC's highest revenue-generating merchandise program of the year and second-highest in company history.

Positive

• Record-breaking weekend attendance and admissions revenue for 2024
• Highest U.S. food & beverage revenue since 2019
• Record-breaking MacGuffins bar sales
• DEADPOOL & WOLVERINE set new AMC records for rated-R film opening weekend
• Complete sellout of DEADPOOL & WOLVERINE merchandise

Negative

• None.

Financial Analyst

The record-breaking performance of AMC Entertainment this weekend marks a significant turnaround for the company and the broader cinema industry. With over 6 million moviegoers and the highest weekend attendance and admissions revenue of 2024, AMC has demonstrated a robust recovery in consumer demand for theatrical experiences.

Key financial highlights include:

• Highest food & beverage revenue since 2019, indicating strong ancillary income streams
• Record-breaking alcohol sales at MacGuffins bars, suggesting successful diversification of revenue sources
• Sold-out merchandise for DEADPOOL & WOLVERINE, becoming the second-highest merchandise program in company history

These results suggest a potential upward revision in AMC's revenue projections for Q2 2024. The success of high-profile releases like DEADPOOL & WOLVERINE, combined with upcoming summer blockbusters, could drive sustained growth in both ticket sales and high-margin concession revenues.

However, investors should remain cautious. While this weekend's performance is impressive, it's important to see if this momentum can be maintained throughout the summer season and beyond. Additionally, AMC's debt load and ongoing challenges in the streaming era still pose long-term risks to the company's financial health.

Market Research Analyst

The phenomenal success of DEADPOOL & WOLVERINE at AMC theaters provides valuable insights into current consumer trends and preferences in the entertainment industry:

• Strong appetite for theatrical experiences, especially for franchise films and R-rated content
• Willingness to spend on premium offerings, as evidenced by record-breaking concession sales
• High demand for movie-related merchandise, indicating opportunities for additional revenue streams

The record-setting alcohol sales at AMC's MacGuffins bars suggest that enhancing the moviegoing experience with adult-oriented amenities is resonating with audiences. This trend could influence future theater designs and offerings across the industry.

The success of DEADPOOL & WOLVERINE, following the strong performance of INSIDE OUT 2, indicates that Disney's strategy of leveraging existing IP across various demographics is paying off. This could influence other studios' production and release strategies, potentially leading to more franchise-based content aimed at diverse age groups.

However, it's important to note that this success is largely driven by a single blockbuster release. The industry's long-term health will depend on maintaining a consistent stream of compelling content throughout the year, not just during peak seasons.

Entertainment Industry Expert

The record-breaking performance of DEADPOOL & WOLVERINE at AMC theaters signifies a pivotal moment for the cinema industry, demonstrating the enduring appeal of theatrical experiences in the streaming era. Several key factors contribute to this success:

• Pent-up demand for high-quality, event-style movies following the pandemic slowdown
• The draw of established franchises and beloved characters
• Effective marketing and merchandise strategies that enhance the overall moviegoing experience

The $205 million domestic opening for an R-rated film is particularly noteworthy, challenging the notion that only family-friendly content can drive massive box office numbers. This success could encourage studios to invest more in diverse, adult-oriented content for theatrical release.

AMC's success with food, beverage and merchandise sales highlights the importance of ancillary revenue streams for theaters. The company's strategy of creating a more comprehensive entertainment experience, beyond just showing movies, appears to be paying off.

Looking ahead, the industry will be watching closely to see if this momentum can be maintained. The success of DEADPOOL & WOLVERINE, combined with other anticipated summer releases, could signal a robust recovery for the theatrical exhibition business. However, challenges remain, including competition from streaming services and the need to consistently deliver compelling content to keep audiences returning to theaters.

More than 6 million moviegoers watched a movie at AMC Theatres locations in the U.S., and ODEON Cinemas locations throughout the world, Thursday through Sunday

AMC’s attendance was driven by an industry-wide record setting performance from DEADPOOL & WOLVERINE, which also set multiple domestic AMC records for a rated-R movie on opening weekend, including the highest opening weekend attendance & highest opening weekend admissions revenue for a rated-R movie in AMC history

This also was AMC’s best weekend for food and beverage revenue in the United States since 2019, due in part to record-setting sales at AMC’s in-theatre MacGuffins bars

AMC’s DEADPOOL & WOLVERINE popcorn buckets and drink toppers flew off the shelves, selling out during the weekend – DEADPOOL & WOLVERINE tops DESPICABLE ME 4 as AMC’s highest revenue movie merchandise program of the year and second highest in AMC company history (behind only the merchandise program for the TAYLOR SWIFT | THE ERAS TOUR concert film)

LEAWOOD, Kan.--(BUSINESS WIRE)-- AMC Entertainment (NYSE:AMC), the largest theatrical exhibitor in the United States and the world, today announced that this past Thursday through Sunday, the Company set new 2024 records for weekend attendance and admissions revenue at its AMC Theatres locations in the U.S. and also for its ODEON Cinemas locations throughout the world. In all, AMC and ODEON welcomed more than 6 million moviegoers to its theatres from Thursday through Sunday.

The weekend performance was led by a record-breaking opening weekend from Disney and Marvel’s DEADPOOL & WOLVERINE, which set new all-time opening weekend records for a rated-R film with a media-reported $205 million domestically across the industry.

Looking at its domestic business, DEADPOOL & WOLVERINE also set new opening-weekend highs for a rated-R film at AMC’s U.S. locations, most notably the highest ever attendance and highest ever admissions revenue for a rated-R film.

The success at AMC wasn’t limited to the big screen. The Company posted its highest food & beverage revenue for a single weekend since 2019, driven in part by record sales at the MacGuffins bars located in about two-thirds of AMC’s U.S. theatres. In the U.S., AMC sold more beer, wine, and cocktails during the Thursday-Sunday weekend than in any other weekend in AMC company history.

Also popular with guests was the DEADPOOL & WOLVERINE merchandise, which was completely sold out during the weekend. With multiple popcorn buckets to choose from, as well as collectable drink toppers and other fun merchandise, DEADPOOL & WOLVERINE is now AMC’s highest revenue-generating merchandise program of the year, eclipsing DESPICABLE ME 4, which had just claimed that title earlier this month. DEADPOOL & WOLVERINE is now AMC’s second highest merchandise program in AMC company history (behind only the AMC merchandise program launched in 2023 for the TAYLOR SWIFT | THE ERAS TOUR concert film).

AMC Chairman and CEO, Adam Aron, commented:

“AMC has been predicting for quite some time that moviegoing would return to lofty levels this summer. The trifecta of INSIDE OUT 2, DESPICABLE ME 4 and DEADPOOL & WOLVERINE, combined with a myriad of other successful movies, has proven us right. It is certainly good news for those who care about AMC that with DEADPOOL & WOLVERINE we enjoyed the highest ever attendance and highest ever admissions revenue for the opening weekend of a rated-R movie in AMC’s company history. It fills us with enormous pride that more than 6 million guests visited an AMC theatre or an ODEON cinema this weekend.”

Aron continued, “In the U.S., DEADPOOL & WOLVERINE also gave AMC our best weekend food and beverage revenue since 2019. Given that this also was an AMC record-breaking weekend for the sale of beer, wine, and cocktails at our MacGuffins bars, it’s only fitting that we raise a glass and toast our studio partners at Disney and Marvel, and the filmmakers of DEADPOOL & WOLVERINE for delivering a theatrical experience that has delighted and entertained millions of fans around the world. It is especially pleasing to see Disney go two-for-two back-to-back, now with the massive success of DEADPOOL & WOLVERINE, which immediately followed Disney and Pixar’s billion dollar-plus success with INSIDE OUT 2, which was released to global acclaim just last month.”

About AMC Entertainment Holdings, Inc.

AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 900 theatres and 10,000 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, website, and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. In addition, in 2023 AMC launched AMC Theatres Distribution with the highly successful releases of TAYLOR SWIFT | THE ERAS TOUR and RENAISSANCE: A FILM BY BEYONCÉ. AMC Theatres Distribution expects to release more concert films with the world’s leading musical artists in the years ahead. For more information, visit www.amctheatres.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240728474289/en/

MEDIA CONTACT

Ryan Noonan, (913) 213-2183

rnoonan@amctheatres.com

Source: AMC Entertainment Holdings, Inc.

FAQ

How many moviegoers attended AMC and ODEON cinemas during the DEADPOOL & WOLVERINE opening weekend?

Over 6 million moviegoers attended AMC and ODEON cinemas globally from Thursday through Sunday during the DEADPOOL & WOLVERINE opening weekend.

What records did DEADPOOL & WOLVERINE break for AMC (NYSE:AMC) in terms of rated-R movies?

DEADPOOL & WOLVERINE set new AMC records for a rated-R film's opening weekend, including the highest attendance and highest admissions revenue for a rated-R movie in AMC history.

How did AMC's (NYSE:AMC) food and beverage sales perform during the DEADPOOL & WOLVERINE opening weekend?

AMC posted its highest food & beverage revenue for a single weekend since 2019, driven in part by record sales at the MacGuffins bars located in about two-thirds of AMC's U.S. theatres.

How did DEADPOOL & WOLVERINE merchandise sales perform for AMC (NYSE:AMC)?

DEADPOOL & WOLVERINE merchandise completely sold out during the weekend, becoming AMC's highest revenue-generating merchandise program of the year and second-highest in company history, behind only the TAYLOR SWIFT | THE ERAS TOUR concert film.