Will Movie Theater Companies Like AMC Survive?

Movie theaters across the U.S. and worldwide have been dealt a massive blow over the past two years. The domestic box office numbers plummeted from 2019’s box office of $11.2 billion to $3.8 billion in 2021. As for AMC Entertainment, the pandemic was chaotic. The theater company was virtually out of cash and nearly bankrupt, yet the 2021 “APE meme-stock” movement possibly saved the company.

Film studios scrambled to reshuffle movie release dates and secure deals for other distribution avenues, and movies intended for the big screen ended up on streaming sites.

As the pandemic escalated, film studios tried solidifying their streaming services and shoring up subscribership. AMC Entertainment and other major theater chains in the U.S. were heavily impacted by this change. Small, independent theaters closed permanently, and some bigger chains shuttered theaters for months. According to the National Association of Theatre Owners, roughly 1,000 screens out of 42,000 closed during the pandemic.

For AMC, the situation became chaotic. The theater chain was virtually out of cash and nearly bankrupt when the 2021 “meme stock” movement possibly saved the company.

Despite more than two years of anemic box-office attendance, a lack of movies debuting on the big screen, and shorter exhibition windows, AMC is looking to avoid the onslaught of competition from streamers and make the comeback it needs.

Watch the video above to learn more about how AMC is staging a comeback through the pandemic and at the center of the streaming wars.

Chapters:
Intro: 00:00:00 — 00:01:55
Dominating the theater industry: 00:01:57 — 00:03:37
The pandemic and streaming: 00:03:38 — 00:09:20
AMC’s comeback: 00:09:23 — 00:12:50

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Will Movie Theater Companies Like AMC Survive?

[storeypictures]

As long as AMC continues to show good movies in Dolby Theater, I’ll keep coming. There’s just nothing like that experience

[epicsseven]

AMC has to do multiple things. A wider variety of food. Have some deals. Recliner seats in most of the theaters. 4k movie screens

[sebastianmemphis]

Last week I went to the theater for the first time since Covid19. It was more fun than watching movies at home.

[Grigsy]

Yes it can. AMC needs to have better concessions/food options, offer unique showings (special shows like showing playing seasonal and special older movies), and invest in local marketing so local theatres have a budget to reach their communities and flexibilities to target their communities.

[charlieng]

To be honest, I only use streaming service for seasonal shows with multiple episode. I just cannot watch single big-movie on streaming platform anymore. There is always that nagging feeling that my time is better spent elsewhere and I am not able to fully focus on the movie. Movie theatre allow me to enjoy these big movies, it is an experience, not a checklist anymore.

[bonoki]

as someone who doesn't have any streaming services, i heavily rely on cinemas like AMC, Showcase, Regal & the like to see what directors & studios have produced. when cinemas were slowly re-opening i saw WW84 & Tenet 4 times. the experience of watching films on a large movie screen affects you more than streaming them at home. not just AMC, but going to any multiplex or cineplex is an experience to behold & iam glad they are welcoming us back...

[astropioneer]

As a film lover who has regularly enjoyed the moviegoing experience at AMC theaters for decades I appreciate the service they provide. Do I wish they would invest in enough staff to keep its theaters clean? Yep, but I genuinely feel AMC has worked to deliver the best cinematic experience in the business with its Dolby Cinemas, IMAX with Laser, McGuffin’s, Stubs A-List and upgraded food options. If theatrical exhibitors are concerned about growth they would do well to start investing in adequate staff to help guests and make their theaters clean and inviting. Fingers crossed AMC takes action like this because I love going out to the movies. Long live theatrical exhibition!

[EICL]

They forgot to mention that HBOMax having the movies releasing at home and at the movies same day was an utter disaster! It completely destroyed any chance for them to make any revenue at the movies, and at the same their subscribers list didn't grow at all. Now HBOMax is getting dismantled and purchased by another group. For Disney on the other hand releasing movies only for 45 days hasn't been good either, look at Dr. Strange and Thor getting beat by Top Gun (which has been in theaters all summer long.) As much as I love streaming at home I hope movie theaters don't go out of business, nothing beats seeing a blockbuster in the biggest screen ever.

[QueenetBowie]

AMC invested in gold mines? I like how they sort of just brushed over that

[MisterGoodDad]

*Fixing the damn AMC app so the showtimes actually show up would be a great start*

[ItsJustJess]

My whole life is basically around the movie theaters especially AMC and in IMAX. We even go every single weekend sometimes multiple shows a day to different theaters because we review different movies and best premium format possibles. I've been in AMC Stubbs member since 2011 and a list since 2018 I go every single weekend to work on the YouTube channel I will continue to invest in this theater and we still need the theaters as much as the theaters need the movies. 👊🙏
Also there's also been an increase report of decline streaming service sign ups

[dannybrinson]

Hell survive! Their float appears to have been sold multiple times over. If you don't own shares, damn I think you will regret that.

[dantefuego]

AMC TO THE MOON, I LOVE THIS COMPANY TO MY CORE

[brandonpolley]

We love the theater! Go almost every week with Stubs

[dantefuego]

Excellent Excellent Piece! I was actually surprised by how unbiased this way

[roberttena]

If AMC Theater would push Japanese Anime premieres that would be awesome! Oh trust me on this one you would have the anime fans in your pocket! Anime is becoming popular.
Here's the suggestion the time I got reincarnated as a slime they're going to have a movie coming out pretty soon put it in your theater and see how it does and do a push on it. If you give the fans what they want they will come?

[pranav.]

I'm from India
Here the multiplexes are doing good but single screens are suffering a lot and many iconic single screen cinemas had to cease their operations
They're the lifeline of cinema lovers as they sell cheap film tickets with reasonable prices for refreshments and snacks

[ProphetJoseph]

I been wondering if CNBC will make a comeback.

[Lucky_]

Cool arcades and better food options would really help AMC and other cinema chains. There’s still a place for the cinema in spite of streaming because nothing can quite replicate that experience.

[JamesWilliams-jfhd]

Let’s go movie theaters!! 🙏🏽 love my streaming also!