On the Strength of AVATAR: THE WAY OF WATER and Premium Formats, AMC Theatres® Way Outpaces the Same Weekend in Pre-pandemic 2019 on Admissions Revenue and Food & Beverage Revenue – Domestically and Internationally

Rhea-AI Summary

AMC Theatres reported a significant boost in both U.S. and global admissions and food & beverage revenue, outperforming figures from the same weekend in pre-pandemic 2019. This surge was largely driven by the premium format success of AVATAR: THE WAY OF WATER, which accounted for over 70% of box office gross at AMC. Additionally, on the international front, ODEON Cinemas achieved its highest single-day revenue for admissions and food & beverage in 2022. CEO Adam Aron highlighted the film's strong reception and the preference of moviegoers for premium viewing experiences.

Positive

• AMC's U.S. and global admissions and food & beverage revenue significantly exceeded pre-pandemic 2019 levels.
• Over 70% of box office gross for AVATAR came from premium formats like 3D, IMAX, and Dolby Cinema.
• ODEON Cinemas recorded its highest single-day admissions and revenue in 2022.

Negative

• None.

Powered by AVATAR: THE WAY OF WATER, AMC’s U.S. and global admissions revenue and food & beverage revenue finish significantly higher than the same weekend in pre-pandemic 2019, which was led by the opening JUMANJI: THE NEXT LEVEL

Premium formats were exceptionally popular this weekend as more than 70 percent of all admissions revenue for AVATAR: THE WAY OF WATER came from a premium experience like 3D, IMAX at AMC, Dolby Cinema at AMC and PRIME at AMC

Internationally, ODEON Cinemas on Saturday recorded its highest single-day admissions and food and beverage revenue in 2022

LEAWOOD, Kan.--(BUSINESS WIRE)-- AMC Theatres^® (NYSE:AMC and APE), the largest theatrical exhibitor in the United States and the world, today announced that based on the strength of premium formats, and a great desire by moviegoers to return to Pandora via AVATAR: THE WAY OF WATER, the Company finished materially ahead on U.S. and global admissions revenue and food & beverage revenue versus the same weekend in pre-pandemic 2019, which was led by the opening of JUMANJI: THE NEXT LEVEL.

The groundbreaking, mesmerizing 3D experience led to AVATAR: THE WAY OF WATER being a huge hit in premium formats in the United States. Tickets sold in RealD 3D and Premium Large Formats like Dolby Cinema at AMC, IMAX at AMC, and PRIME at AMC made up more than 70% of all box office gross to the movie at AMC.

Overseas, the movie played strong all weekend, but particularly on Saturday, when Saturday, AMC’s ODEON Cinemas enjoyed its highest admissions revenue and food & beverage revenue for a single day in 2022.

AMC Chairman and CEO Adam Aron Commented:

“At AMC, we’re greatly encouraged to see our revenues soar on the opening weekend of AVATAR: THE WAY OF WATER. James Cameron has done it again with a masterpiece of a film that generated revenues at AMC and ODEON Cinemas that were materially ahead of pre-pandemic 2019. AVATAR: THE WAY OF WATER demands to be seen on the biggest screens, with the loudest sounds in the most comfortable seats imaginable. Not only that, but I’d recommend seeing it in one of our premium formats like IMAX at AMC, Dolby at AMC or PRIME at AMC, Laser at AMC, and seeing it in the visually stunning 3D. The film is unlike anything I’ve ever experienced. All of us at AMC and Odeon extend our eternal thanks to James Cameron for the brilliance of his vision, and to all our friends at Disney for their tireless efforts to make this remarkable and immersive film. I’ve already seen it twice this past weekend, and I can’t wait to go see it again.”

Tickets for AVATAR: THE WAY OF WATER are on sale through the holidays at all AMC locations in the United States. Moviegoers can visit amctheatres.com or use the AMC mobile app to see showtimes and purchase tickets.

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/20221219005255/en/

MEDIA CONTACT

Ryan Noonan, (913) 213-2183

rnoonan@amctheatres.com

Source: AMC Entertainment Holdings, Inc.

FAQ

What are the recent revenue trends for AMC?

AMC has reported a significant increase in both U.S. and global admissions and food & beverage revenue compared to pre-pandemic levels.

How did AVATAR: THE WAY OF WATER perform at AMC?

AVATAR: THE WAY OF WATER accounted for more than 70% of box office gross at AMC, primarily through premium formats.

What was the performance of ODEON Cinemas recently?

ODEON Cinemas achieved its highest single-day admissions revenue in 2022 during the release of AVATAR.

What is the significance of premium formats for AMC?

Premium formats like 3D and IMAX have been crucial for AMC, comprising a major portion of their box office revenue.