AMC Launches New Private Rental Program to Drive Business
The Entertainment industry has been particularly hard hit by the pandemic, and still struggles today as large crowds continue to be dangerous environments. In search of additional sources of liquidity, AMC Theaters launches a private theater rental option for parties of 20 or less. According to an interview by Variety, the concept’s initial beta testing has been “overwhelmingly positive,” said Elizabeth Frank, Executive VP of Worldwide Programming and Chief Content Officer.
MarketScale hosts Daniel Litwin and Tyler Kern consider the companies further push into the experience-based economy. If theater operations return to some sort of normal, will the new private rental product be enough to cover losses of otherwise full theaters? Regardless, AMC’s existing infrastructure finds a new use in the age of coronavirus.
KEY POINTS
- AMC report over $900 million in quarterly losses.
- AMC’s private rental program shows promise entirely on word-of-mouth publicity.
- The movie theater company inches toward filing for bankruptcy if it cannot obtain new sources of revenue.
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