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AMC Entertainment Holdings, Inc. (NYSE: AMC) is the largest movie exhibition company in the United States, Europe, and globally, with around 900 theatres and 10,000 screens in operation. Known for its innovative amenities, AMC offers plush, power recliners, MacGuffins full bars, AMC Dine-In Theatres, and premium presentations, positioning itself as a leading destination for moviegoers.
Founded in 1968 as American Multi-Cinema, Inc., the company pioneered the multiplex theater concept, transforming single-screen theaters into multi-auditorium setups. AMC's dedication to enhancing the movie-going experience includes initiatives like the AMC Stubs rewards program launched in 2011 and its Subscription A-List program, offering members the chance to see multiple movies per week.
In recent years, AMC has shown resilience and adaptability in facing industry challenges. Despite the impacts of the COVID-19 pandemic and Hollywood strikes, the company has consistently exceeded revenue and earnings expectations. In the first quarter of 2024, AMC reported total revenues of approximately $951.4 million. AMC continues to innovate with its new AMC Theatres Distribution, which successfully released TAYLOR SWIFT | THE ERAS TOUR and RENAISSANCE: A FILM BY BEYONCÉ in 2023.
Furthermore, AMC’s Summer Movie Camp program offers affordable family entertainment, and its loyalty programs provide significant savings and benefits to movie lovers. Beyond traditional cinema, AMC is also a major stakeholder in Fathom Events, bringing unique content like documentaries and concert films to a broad audience.
National CineMedia (NCMI) and Affinity Solutions released an Economic Impact Study showing a predictive relationship between moviegoing and increased consumer spending. Analyzing over eight million moviegoers, the study found that attendees spend twice as much as non-moviegoers within eight hours of viewing. The report highlights spending patterns across different demographics during movie attendance, indicating that brands can effectively target these consumers for better sales. Key findings include increased spending on retail and dining, with significant brand sales lifts noted for attendees of blockbuster films.
AMC Theatres reported a remarkable attendance of over 4.9 million moviegoers globally from Thursday to Sunday, marking its fourth highest weekend in 2022. The weekend's global admissions revenue exceeded the same weekend in 2021 by 125% and improved by 53% compared to 2019. The impressive performance was largely driven by the record-setting opening of BLACK PANTHER: WAKANDA FOREVER, which generated $180 million domestically and approximately $330 million globally. AMC also celebrated its highest food and beverage sales on a November day in its 102-year history.
BROADWAY RISING is a feature documentary by Fathom Events and Vertical, highlighting Broadway's post-pandemic recovery journey. Set for theatrical release on December 5, 2022, the film showcases the industry’s struggles and resilience following the COVID-19 shutdowns, which impacted an industry contributing nearly $15 billion to New York City's economy and supporting 97,000 jobs. Directed by Amy Rice, the screening includes exclusive content with insights from industry professionals. Tickets are available through Fathom Events and select theaters.
AMC Entertainment Holdings, Inc. (NYSE: AMC and APE) reported its third quarter results for the period ending September 30, 2022. The financial results have been made available on the company's Investor Relations website. AMC will hold a live webcast for investors on November 8, 2022, at 4:00 p.m. CST to discuss these results. AMC remains the largest movie exhibition company globally, with approximately 950 theatres and 10,500 screens, continuing to innovate with enhancements in seating, food options, and guest engagement initiatives.
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.
National CineMedia reported robust Q3 2022 results, with total revenue rising 71.9% to $54.5 million, driven by a strong advertising resurgence. The operating loss improved significantly to $4.2 million, while adjusted OIBDA turned positive at $7.0 million, contrasting with a loss of $8.2 million in Q3 2021. For Q4 2022, revenue is projected between $85.0 million and $95.0 million, while full-year revenue is expected to reach $242.5 million to $252.5 million, up substantially from 2021.
AMC Theatres announced its $5 Discount Tuesday promotions, allowing AMC Stubs members to enjoy all movies for $5 plus tax at all U.S. locations through the end of January. Members can also purchase a $5 small combo of popcorn and an ICEE or Coca-Cola. The promotion aims to enhance moviegoing value during the holiday season, with premium experiences also available at the same base price. Special events and certain movie showtimes are excluded from this offer.
National CineMedia, Inc. (NASDAQ: NCMI) will release its fiscal third quarter 2022 earnings results on November 7, 2022, after market close. A conference call to discuss these results is set for 5:00 p.m. Eastern Time the same day. Participants can access the call by dialing (888) 394-8218, with an international option available. The live audio webcast will be hosted on www.ncm.com under Investor Relations. A replay will be accessible until November 21, 2022.
AMC Theatres announces additional encore showtimes for the October 29 sneak peek of Yellowstone and premiere of Tulsa King starring Sylvester Stallone. This event offers fans a chance to win merchandise and participate in a costume contest. Tickets are $15 and available via AMCTheatres.com. The show will return on November 13 on Paramount Network. AMC operates approximately 950 theatres globally, engaging customers with innovative experiences.
AMC Theatres has announced the launch of Laser Projection technology from Cinionic at its Burbank locations, marking the first major upgrade in Los Angeles. Nearly all AMC theaters in the area will follow suit in the coming months, as part of an agreement to install laser projectors across 3,500 auditoriums in the U.S. by 2026. This $250 million initiative aims to enhance on-screen presentation, offering improved picture contrast, brightness, and color. The transition to laser is also environmentally friendly, reducing energy usage and waste associated with traditional projection systems.
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