AMC Entertainment Holdings is in the midst of changes intended to appeal to its Reddit investors. In addition to opening new locations, chief executive Adam Aron said the company would start accepting Bitcoin at U.S. locations by the end of 2021. After AMC was brought to the verge of bankruptcy by COVID-19 lockdowns, its revenue tripled in the June quarter compared to the previous 2021 quarter. In the wake of that news, share prices rose 4.6 percent to $35.36 in after-hours trading. Its stock ended in 2020 at $2.12. Continue reading AMC Opens New Theater Locations, Plans to Accept Bitcoin

As pandemic rules evolve and movie theaters reopen across the U.S., theater owners in North America with studios and other companies unveiled Cinema Week, a six-day event offering deals for food and drink and advance film screenings. Studios are on track to release major titles, having already unveiled “Godzilla vs. Kong” and “A Quiet Place Part II” to some success. Still, sales are lagging, with Comscore reporting that movies grossed $57 million in the U.S. and Canada last weekend, down 58 percent from the same period in 2019. Special screenings and an array of promotional deals aim to help turn things around. Continue reading Industry Lures Moviegoers with Special Deals and Screenings

U.S. movie theaters brought in nearly $100 million in ticket sales over the four-day Memorial Day weekend. The top two titles were Paramount’s “A Quiet Place Part II,” which earned $48.4 million in three days (and $57 million over the full four days) and Disney’s “Cruella,” which made $27 million in four days, after an earlier Disney+ release. This performance has been the best box office since the advent of the global COVID-19 pandemic, although it was less than half of the $232 million earned in the same holiday period in 2019. Continue reading Movie Theaters Report Upswing for Strong Holiday Weekend

During the COVID-19 pandemic, movie theaters were closed and the industry suffered the economic impacts of the shutdown. This week, at an AMC theater, the five major Hollywood studios, their indie subsidiaries and indie labels such as A24 and Neon gathered to send a unified message: it’s time to go back to the movie theater. Their presence was buttressed by messages from Arnold Schwarzenegger, actor and director John Krasinski, Marvel chief executive Kevin Feige, and musician Questlove (promoting his upcoming movie “Summer of Soul”). Vin Diesel, Ryan Reynolds and Dwayne Johnson were among other notable individuals pushing a return to theaters. Continue reading Studios, Exhibitors, Actors Pin Big Screen Hopes on Summer

To the dismay of cinephiles, ArcLight Cinemas and Pacific Theatres are permanently shuttered, a victim of the COVID-19 pandemic. Among the company’s holdings is the historic Cinerama Dome on Sunset Boulevard in Hollywood. An IndieWire report stated that Pacific Theatres still owes $181,900 for its March 2021 rent on the Culver City ArcLight location, which could rise to $2.2 million for a full year. Parent company Decurion Corporation controlled 300+ screens in California, including 18 at the Americana at Brand mall in Glendale and 14 at The Grove in Los Angeles. Continue reading ArcLight Cinemas, Pacific Theatres to Shut Down Operations

Hollywood film studio Universal Pictures and AMC Theatres, which operates more than 8,000 screens in the U.S., signed a historic multi-year agreement to allow Universal’s films to launch on video-on-demand only 17 days after their theatrical debuts, breaking the long-standing industry norm of 90 days between the two releases. Universal may, however, let tentpole movies play exclusively in movie theaters beyond 17 days. According to Universal Filmed Entertainment Group chair Donna Langley, “the theatrical experience continues to be the cornerstone of our business.” Continue reading AMC, Universal Ink Pivotal Deal to Shrink Exclusivity Window