Welcome to our dedicated page for AMC ENTERTAINMENT HOLDINGS news (Ticker: AMC), a resource for investors and traders seeking the latest updates and insights on AMC ENTERTAINMENT HOLDINGS stock.
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 Entertainment Holdings, Inc. (NYSE:AMC) has appointed Adam Aron, who has been CEO since 2016, as the Chairman of the Board, continuing his dual role. The Board has also appointed Ambassador Philip Lader as Lead Director. Aron's leadership has driven AMC's growth, particularly during the challenges posed by the COVID-19 pandemic. The changes follow the resignations of Lin Zhang and Mao Jun Zeng from the Board, both from Wanda Group. AMC operates approximately 950 theatres and 10,500 screens globally, emphasizing innovation in movie exhibition.
AMC Entertainment Holdings has signed a long-term lease with Caruso for two prominent Los Angeles area theatres: The Grove Theatre and The Americana at Brand Theatre. Both locations have been closed due to the COVID-19 pandemic but are expected to reopen in August. The Grove was the second highest-grossing theatre in 2018, while Americana ranked fifth. AMC plans to enhance the movie-going experience by renovating auditoriums and introducing premium formats like IMAX and Dolby Cinema. CEO Adam Aron emphasized the importance of these locations in the movie industry.
Fathom Events, in partnership with LAIKA, Shout! Factory, and Park Circus, is re-releasing CORALINE and PARANORMAN in theaters to celebrate LAIKA's 15th anniversary. CORALINE will return on August 24 with tickets available from July 16, while PARANORMAN follows on November 16, with tickets starting August 13. Both films will include exclusive bonus content showcasing LAIKA's creative process. This initiative aims to bring these beloved movies back to both existing fans and new audiences.
AMC Theatres (NYSE:AMC) has achieved a new milestone by breaking its previous post-reopening weekend attendance records, for the second time in three weekends. Approximately 3.2 million guests attended AMC theatres in the U.S. and internationally between July 8 and June 11. This surge in attendance was driven by the success of BLACK WIDOW, which opened to an estimated $80 million in the U.S. and Canada. Notably, AMC dominated the box office, with eight of the top ten busiest theatres being AMC locations.
AMC Theatres (NYSE:AMC) reported record post-reopening attendance over the weekend, attributed to the blockbuster release of F9: THE FAST SAGA. Approximately 2 million attendees visited U.S. locations, marking the highest turnout since March 2020. F9 earned an estimated $70 million in its opening weekend, the largest since late 2019. Internationally, AMC welcomed over 500,000 guests, bringing total global attendance to 2.5 million. CEO Adam Aron noted that a combination of vaccinations and major releases is revitalizing the cinema experience.
On June 21, 2021, Fathom Events announced the return of RiffTrax Live with two new shows featuring Michael J. Nelson, Kevin Murphy, and Bill Corbett. The live screenings of Hobgoblins and Amityville Horror: The Evil Escapes will take place on August 16 and October 26, 2021, respectively. Over the past twelve years, RiffTrax has successfully screened 34 unique titles, achieving over 1.1 million tickets sold and $14.6 million in revenue. The partnership continues to thrive as RiffTrax fans eagerly await the return to theaters.
AMC Entertainment Holdings, Inc. (NYSE: AMC) has disclosed its share count data stating there are 501,780,240 shares outstanding as of June 2, 2021. Around 4.1 million individual shareholders are eligible to vote in the upcoming Shareholder Meeting on July 29, 2021. Voting begins on June 16, with materials sent to investors shortly thereafter. AMC's President and CEO, Adam Aron, highlighted the growing investor interest, with over 80% of shares held by retail investors. The company aims to position itself for continued success as it approaches its 101st year.
AMC Entertainment Holdings, Inc. (NYSE: AMC) filed a preliminary proxy statement with the SEC for its 2021 Annual Meeting, set for July 29, 2021. Key proposals include increasing authorized share capital by 25 million shares, re-electing certain directors, appointing Ernst & Young LLP as auditors, approving executive compensation, and allowing adjournment of the meeting if necessary. AMC's Board recommends a favorable vote on all proposals. Voting is open from June 16 to July 28, 2021. CEO Adam Aron urges shareholders to participate in shaping AMC's future.
AMC Entertainment Holdings, Inc. has disclosed that as of June 2, 2021, there are 501,780,240 shares outstanding. Voting at the upcoming Shareholder Meeting on July 29 is limited to share holders whose trades settled by this date. Advance voting starts on June 16 and continues until July 28. AMC highlighted that some international brokers may restrict voting for their clients. The company also addressed inquiries about synthetic shares and has no plans for a stock split. Additionally, it noted that derivatives related to its stock do not convey voting rights.
FAQ
What is the current stock price of AMC ENTERTAINMENT HOLDINGS (AMC)?
What is the market cap of AMC ENTERTAINMENT HOLDINGS (AMC)?
What does AMC Entertainment Holdings, Inc. do?
What are some of AMC's recent innovations?
How has AMC performed financially recently?
What is the AMC Stubs program?
What is AMC Theatres Distribution?
Does AMC offer any special programs for families or kids?
What safety measures does AMC have in place for guests?
How can I join AMC Stubs A-List?
What types of amenities do AMC theatres offer?
Where can I find more information about AMC’s financial performance?
