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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.
AMC Theatres is offering a limited-edition NFT to guests who purchase or reserve tickets for THE BATMAN by February 14 for showtimes through March 6. To qualify, tickets must be bought via AMCTheatres.com or the AMC mobile app, with a scan required in the theatre. The NFT codes will be sent on March 8 via email, and the NFT will be delivered by Palm NFT Studio. The film opens on March 4, with pre-release events available on March 1 and March 2.
AMC Entertainment has issued conditional notices to redeem $373.5 million of its senior secured notes due in 2026 on February 14, 2022. This decision coincides with a planned redemption of $500 million in notes due in 2025. The redemptions depend on completing a private offering of $950 million in senior secured notes due in 2029, which must yield at least $950 million in proceeds. This move positions AMC to potentially improve its financial standing while managing its existing debt obligations.
AMC Entertainment announced a successful upsizing of its private offering, now totaling
AMC Entertainment Holdings (NYSE: AMC) has launched a private offering of $500 million in first lien senior secured notes due in 2029. The notes will be guaranteed by its subsidiaries and will fund the redemption of existing notes and cover associated fees. A conditional notice of redemption has been sent for the $500 million of 10.5% senior secured first lien notes due in 2025, dependent on the new offering's success. The offering is intended for qualified institutional buyers and is not registered under the Securities Act.
AMC Entertainment Holdings, Inc. reported preliminary results for Q4 2021, indicating total revenues of approximately $1,171.6 million, a significant increase from $162.5 million in Q4 2020. The net loss is projected between $194.8 million and $114.8 million, a notable decrease from $946.1 million in the previous year. Adjusted EBITDA is expected to range from $146.8 million to $151.8 million, compared to an EBITDA loss of $(327.5) million in Q4 2020. The company ended the year with $1.8 billion in liquidity and positive operating cash generated of $216.5 million.
National CineMedia, Inc. (NASDAQ: NCMI) announced a new $50 million revolving credit facility, fully drawn on January 5, 2022. The loans will incur interest at a rate of SOFR plus 8.0% per annum, maturing on June 20, 2023. This facility allows for an extension of financial covenants until December 29, 2022, revising the leverage ratios for the fiscal quarters until September 28, 2023. Following this financing, the company holds a cash balance of $143.1 million as of January 5, 2022, providing essential liquidity for operations.
AMC Entertainment Holdings continues its expansion by announcing lease agreements for two new locations in Los Angeles and Chicago, formerly operated by Pacific and Arclight. AMC expects to reopen these theatres in spring 2022, further solidifying its position as the largest theatrical exhibitor. AMC Americana at Brand 18 and AMC The Grove 14 are already top performers in the LA market, ranking in the top 10. The company is actively pursuing additional acquisitions to strengthen its market presence.
AMC Theatres announces record-breaking attendance following the release of Marvel & Sony Pictures’ SPIDER-MAN: NO WAY HOME. Over 7 million tickets were sold globally, with more than 5 million in the U.S. alone. This was the biggest December opening weekend ever, and AMC achieved its highest daily attendance since December 2019. Theatres internationally also saw strong attendance, notably on Saturday. AMC’s PRIME, Dolby Cinema, and IMAX experiences reported their best usage numbers to date.
Fathom Events announced significant success for CHRISTMAS WITH THE CHOSEN: THE MESSENGERS, extending its reach to over 1,000 churches and schools, resulting in an additional 50,000 tickets sold. The event, showcased in 1,700 theaters, generated sales exceeding $13.5 million with over 1 million tickets sold. Collaborating with the Faith Content Network allowed Fathom to cater to underserved audiences, enhancing local small theater revenues. The event's run has been extended through December 23.
AMC Theatres reports record attendance for SPIDER-MAN: NO WAY HOME, with 1.1 million moviegoers on opening night, marking the highest single-day attendance in AMC history. This performance surpassed previous records for the month of December and was the second highest overall behind AVENGERS: ENDGAME. The film also achieved nearly 99% of AMC’s all-time single-day advance ticket sales record. AMC's expansion and innovation in movie experiences highlight a strong consumer demand for cinema.
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