Welcome to our dedicated page for AMC Entertainment Holdings news (Ticker: APE), a resource for investors and traders seeking the latest updates and insights on AMC Entertainment Holdings stock.
AMC Entertainment Holdings, Inc. (NYSE: APE) is the world's largest movie exhibition company, boasting approximately 950 theatres and 10,500 screens across the globe. AMC Theatres welcomes around 200 million guests annually to its over 300 locations, offering innovative amenities and an unrivaled movie-going experience. From its historic beginnings with the first multiplex theatre to its modern advancements in luxury seating, premium food and beverages, and engaging loyalty programs, AMC continues to set industry standards.
Founded by Stanley Durwood, AMC revolutionized the cinema industry by remodeling single-screen theatres into multiplexes. Today, the company thrives under the leadership of its current CEO, Adam Aron, who has driven the company through numerous successful initiatives, including the AMC Stubs Rewards Program and the introduction of Signature power-recliner seats.
Recent developments highlight AMC’s commitment to innovation and customer experience. The company has partnered with Starco Brands to offer Whipshots Vanilla and Lime cocktails at its MacGuffins Bars nationwide. In addition, AMC has achieved significant milestones with the release of movies like Barbie and Oppenheimer, setting post-reopening records in admissions and food and beverage revenues.
AMC's adaptability is further demonstrated through its Sightline at AMC pilot program, which explored seat-based pricing to enhance the theatre experience. Though this initiative will not roll out nationwide, AMC plans to experiment with new seating concepts, including spacious front-row seating with extensive recline, set to be tested in late 2023.
AMC has also ventured into the retail market with its AMC Perfectly Popcorn, now available in over 2,600 Walmart locations, showcasing its brand's expansion beyond traditional cinema.
Visit AMC Theatres for more information and to stay updated on the latest news and offerings. AMC remains committed to providing memorable cinema experiences and continues to push the boundaries of the movie exhibition industry.
AMC Entertainment Holdings, Inc. (NYSE: AMC, APE) will report its fourth quarter and full year results for 2022 after the market closes on February 28, 2023. A live earnings webcast is scheduled for 4:00 p.m. CST, accessible through the Investor Relations section of its website. Investors are encouraged to register at least 15 minutes before the webcast and can submit questions through AMC Investor Connect starting February 20, 2023. The company, with about 950 theatres and 10,500 screens globally, emphasizes innovation in the exhibition industry with enhanced seating, food options, and loyalty programs.
AMC Theatres has introduced Sightline at AMC, a new ticket pricing initiative allowing moviegoers to choose their seats based on sightline preferences. The program offers three pricing options: Standard Sightline at traditional ticket prices, Value Sightline at a lower price for front-row seats, and Preferred Sightline for middle seats at a premium. A-List members enjoy the premium fee waived for Preferred Sightline reservations. This initiative launches in select markets and aims to expand across all AMC locations by year-end, enhancing the guest experience while aligning with industry standards.
AMC Entertainment Holdings announced a strategic shift in its operations in the Kingdom of Saudi Arabia. Following the successful launch of its theaters in 2018, AMC will transition from a management role to a licensing agreement with the Saudi Cinema Company (SCC). In this agreement, Saudi Entertainment Ventures (SEVEN) will buy out AMC's $30 million investment in SCC. AMC currently operates 13 theaters, which will continue to use the AMC brand. This move represents the culmination of AMC's efforts to train local management and establish a sustainable cinema operation in Saudi Arabia.
AMC Entertainment announced it will raise $110 million through the sale of APE units to Antara Capital, LP, priced at $0.660 per share. This transaction will also result in a $100 million reduction of outstanding debt, lowering annual interest expenses by $10 million. AMC seeks shareholder approval for proposals including converting APE units into AMC shares and a 1:10 reverse stock split. The liquidity position is enhanced, and the capital structure aims to eliminate the trading discount of APE units.
AMC Entertainment Holdings has improved its liquidity by raising over
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.
AMC Entertainment has announced the launch of the AMC Entertainment Visa Card, set to debut in early 2023. This credit card is exclusive to the theatrical exhibition industry in the U.S., allowing cardholders to earn AMC Stubs rewards points for both movie-related and everyday purchases. New cardholders who spend $50 within three months will receive $50 in AMC Stubs Bonus Bucks. A waitlist has been introduced due to high demand, with participants entered into a sweepstakes for a chance to attend a red-carpet movie premiere with CEO Adam Aron.
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.
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.
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