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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 (NYSE:AMC) announces a second movie-themed NFT for AMC Investor Connect members, following positive responses to their initial NFT. This new NFT features a gold-embossed medallion stating, “I Own AMC,” and will be tradable. Current participants and new members who join by December 31, 2021, will receive this NFT by January 31, 2022, at no cost. AMC Investor Connect, established in June 2021, has over 425,000 members and offers perks like concessions and screening access. The NFTs are created in partnership with WAX, a leading carbon-neutral blockchain.
CHRISTMAS WITH THE CHOSEN: THE MESSENGERS has set sales records for Fathom Events, generating over $8 million from 640,000 tickets sold across 1,700 theaters. This event is now Fathom's best-selling and most-attended event ever, with a remarkable $1.5 million in ticket sales within the first 12 hours. The production features a new episode of The Chosen series, exploring the birth of Jesus through the eyes of Mary and Joseph, and includes performances by prominent artists such as Phil Wickham and for KING & COUNTRY.
ReelWorks Studios and Fathom Events announced the spring 2022 theatrical release of their new film, THE MULLIGAN, featuring an all-star cast including Pat Boone, Eric Close, and Tanya Christiansen. The film, based on the book by Wally Armstrong and Ken Blanchard, tells the story of a CEO who seeks redemption in life through golf. Produced in partnership with various golf brands, the movie promises to resonate with audiences beyond just golf enthusiasts, emphasizing family values and second chances.
AMC Theatres, the largest theatrical exhibitor globally, reported that ticket sales for SPIDER-MAN: NO WAY HOME on November 29 reached the second highest daily sales in its history, just 1.5% short of the record set by AVENGERS: ENDGAME. This surge was driven by an NFT promotion in collaboration with Sony Pictures, offering 86,000 NFTs to qualifying members. All NFTs were claimed on the sales day. The film opens exclusively in theaters on December 16.
WAX Blockchain has been selected by Sony Pictures and AMC Theatres for the Spider-Man: No Way Home NFT promotion, marking a historic collaboration between a film studio and a major theater chain. The decision was influenced by WAX's eco-friendliness and user-friendly NFT process, which requires no gas fees. AMC members will receive exclusive NFTs with ticket purchases, totaling 86,000 available units. WAX is noted for processing 15 million daily transactions and being carbon neutral, making it the leading platform in NFT sales among layer-1 blockchains.
National CineMedia (NCMI) will participate in the Bank of America Securities Leveraged Finance Conference on November 30 - December 1, 2021. CEO Tom Lesinski and CFO Ronnie Ng are scheduled to present on November 30 at 4:30 PM EST and will be available for one-on-one meetings with investors during the conference. NCM operates the largest cinema advertising network in the U.S., with a presence in over 1,600 theaters and reaching audiences through its Noovie pre-show in collaboration with major theater chains like AMC and Cinemark.
AMC Entertainment has announced a limited promotion offering up to 86,000 Spider-Man NFTs for members of its AMC Stubs Premiere, A-List, and Investor Connect who purchase tickets for SPIDER-MAN: NO WAY HOME on December 16, 2021. This initiative marks AMC's first NFT promotion in collaboration with Sony Pictures. NFTs are expected to be available for a short time, with ticket sales commencing on November 29. Codes for the NFTs will be emailed on December 22, and redemption must occur by March 1, 2022.
Dreamscape, an immersive virtual reality company, is set to launch its next venue at AMC Garden State in Paramus, New Jersey on November 19, 2021. This venue marks the company's east coast debut and offers three popular VR experiences, including Alien Zoo and DreamWorks Dragons: Flight Academy. Adam Aron, CEO of AMC, emphasized the partnership's goal to enhance entertainment offerings. The venue aims to attract audiences from the New Jersey and New York metro area, contributing to Dreamscape's ongoing expansion across the U.S. and internationally.
National CineMedia (NCM) has partnered with NuTime Media to form specialized cinema advertising networks targeting African-American and Hispanic audiences. This initiative combines NCM's cinema reach with NuTime's expertise, allowing marketers to access diverse consumer groups effectively. NCM’s Black Cinema Network will serve 393 theaters and 5,400 screens, reaching 11.4 million viewers monthly, while the Hispanic Cinema Network spans 449 theaters and 6,000 screens, targeting 15.4 million viewers. This collaboration aims to capitalize on the rising spending power of these demographics.
AMC Entertainment Holdings reported its third-quarter results for the period ending September 30, 2021. As the largest movie exhibition company globally, AMC continues to innovate within the industry with features like power-recliner seats and enhanced food choices. The company will hold a live webcast for investors on November 8, 2021, at 4:00 p.m. CST. Investors can access the results and webcast details on the AMC Investor Relations website.
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