AMC Theatres® and Zoom Partner to Bring Zoom Rooms to the Comfort and State-of-the-Art Sight and Sound Technology of AMC Movie Theatres

Rhea-AI Summary

AMC Theatres (NYSE: AMC, APE) and Zoom Video Communications (NASDAQ: ZM) are partnering to introduce Zoom Rooms at select AMC locations in up to 17 U.S. cities, aiming to facilitate hybrid work environments. This initiative allows companies to host virtual and in-person meetings in AMC's modern theatres, equipped with state-of-the-art technology. Users will be able to book their preferred theatres online for a three-hour time block, featuring additional services like food options and movie viewings. The launch is anticipated in late 2023.

Positive

• Partnership with Zoom to create Zoom Rooms expands revenue opportunities in the corporate meeting market.
• Utilization of AMC's existing infrastructure and technology to attract corporate clients.
• Enhanced customer experience with food and beverage offerings alongside traditional movie viewings.

Negative

• Potential initial investment costs associated with setting up Zoom Rooms at multiple locations.

Beginning sometime in 2023, AMC Theatres in as many as 17 cities across the United States will leverage Zoom Rooms technology to simultaneously connect small, medium, and large sized groups in different locations.

LEAWOOD, Kan.--(BUSINESS WIRE)-- AMC Theatres® (NYSE: AMC and APE), the largest theatrical exhibitor in the United States and the world, and Zoom Video Communications, Inc. (NASDAQ:ZM) today announced an innovative partnership that will turn some AMC locations throughout the United States into Zoom Rooms.

As hybrid work has become more commonplace throughout the United States, Zoom Rooms at AMC will enable companies and other entities with decentralized workforces and customer bases to bring people from different markets together at the same time for cohesive virtual and in-person events and meeting experiences. This combines the excellent experience of Zoom with the comfort and state-of-the-art sight and sound technology of AMC’s modern and centrally located theatres.

AMC and Zoom currently anticipate launching Zoom Rooms at AMC in up to 17 major U.S. markets sometime in 2023.

Upon launch, Zoom Rooms at AMC users will be able to easily book online, and in so doing can select their preferred theatres and meeting time. They will receive a three-hour block of time to virtually host their event across multiple markets at the selected theatres. AMC and Zoom will provide the necessary equipment for a fully functional Zoom Rooms experience, in the comfort of multiple movie theatres in multiple cities simultaneously. Typical auditorium sizes are expected to range between 75 and 150 seats, depending upon the theatre.

Additional services including food and beverage offerings, possible movie viewings, and concierge-style personalized handling of meeting needs will also be available at an added cost.

The announcement is yet another innovative initiative launched by AMC designed to maximize the value creation that can come from its vast amount of seating capacity.

Adam Aron, Chairman and CEO of AMC Theatres, commented:
“One of the lessons learned during the pandemic when so many of us were forced to work remotely was the importance of a reliable, dynamic communications platform. We also learned that even though we may be spread far apart, the ability to come together in person is as important as ever. That is why I’m so excited about this AMC partnership with Zoom. So many of us know how vital Zoom is in managing our enterprises. Now through this partnership of Zoom and AMC, we have the best of both worlds — the spectacular communications platform of Zoom combined with the comfort, size, scale, and state-of-the-art sight and sound capabilities of AMC’s centrally located theatres. This creates an all-new product in major cities across the U.S. for companies and meeting planners.”

Aron continued: “AMC has an abundance of attractive theatres at centrally located venues in city after city after city, each with ample seating capacity, especially so during daytime hours on weekdays when most meetings take place. Our state-of-the-art sight and sound technology is widely renowned, and has made gathering in movie theatres one of the most popular out-of-home entertainment options in the United States. Zoom Rooms at AMC broadens our scope, as we now can participate as well in the multi-billion market for corporate and other meetings.”

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 950 theatres and 10,500 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, web site, and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. For more information, visit www.amctheatres.com.

Category: Company Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20221107006048/en/

Ryan Noonan, (913) 213-2183

rnoonan@amctheatres.com

Source: AMC Entertainment Holdings, Inc.

FAQ

What is the AMC and Zoom partnership about?

AMC and Zoom are collaborating to launch Zoom Rooms at select AMC theatres, enabling virtual and in-person meetings.

Where will Zoom Rooms be available?

Zoom Rooms will be available in up to 17 cities across the United States.

When is the launch date for Zoom Rooms at AMC?

The launch is anticipated sometime in 2023.

What additional services will be offered at Zoom Rooms?

Services may include food and beverage options, movie viewings, and concierge-style assistance.

How long can users book a Zoom Room for?

Users can book a Zoom Room for a three-hour time block.