AMC Entertainment’s biggest issue right now may be its $4.5 billion debt and the fact that most comes due in 2026. On a conference call post-earning today, CEO Adam Aron addressed it publicly for the first time, assuring investors the giant theater chain has been working with lenders for almost a year to extend the
Earnings
Adam Aron and the AMC Entertainment board have agreed to reduce the CEO’s target compensation by 25% this year, he said, as he’s bombarded with hostility by the theater chain’s large group of retail shareholders angry at the sinking stock. It means the target amount that he’d be eligible for would be lower. Aron didn’t
Theater chain AMC will make a handsome profit from distributing Taylor Swift: The Eras Tour and from its box office grosses, which passed $232 million globally, said CEO Adam Aron. He declined to give any numbers until year end since both Swift — and Renaissance: A Film By Beyoncé, which launches Dec. 1 — fall
Cinemark CEO Sean Gamble said Apple and Amazon, two behemoths of the tech world but newcomers to the wide-release movie business, are so far “very pleased” with their results. During a conference call with Wall Street analysts to discuss third-quarter results, the major exhibitor boss said Cinemark’s conversations with the two tech firms indicate they
The world’s most valuable company saw another revenue dip with sales down about 1% at $89.5 billion (a hair above Wall Street expectations) for its fiscal fourth quarter. EPS at $1.46 was up 13% percent year-on-year for the three months ended in September, also a beat. But investor had hoped for a bit more from
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes. The world’s biggest move chain saw second-quarter earnings surge, sales jump and things looked great in movieland with the three months ended in June and the
Cinemark CEO Sean Gamble said Hollywood strikes currently delaying the production, and promotion, of new films won’t affect “key fundamentals” of a revived exhibition business although they might extend the “recovery trajectory of theatrical film volume a bit.” “We know that our studio partners are doing everything they can to minimize the disruption of content
“Barbie is really important for us,” beamed Warner Bros. Discovery CEO David Zaslav on the conglom’s Q2 earnings call about what will be the first pic to hit $1 billion under his reign. In celebrating the pic’s success, he indicated that the movie would hit streaming service Max in the fall. However, on a long
Media giant Comcast beat on its top and bottom line for the three months ended in June with theme parks and studio strong, even as the latter basks in another giant opening, for Opppenheimer, in the current third quarter. Total revenue nosed up 1.7% to $30.5 billion for the second quarter ended in June. Net income jumped
Mike Cavanagh, the president of Comcast who was recently named the de-facto head of NBC Universal, said the company remains “committed to reaching a fair deal [with actors and writers[ as soon as possible, so we can get back to doing what we do best, which making great content together.” In a change, he kicked
Imax blew past Wall Street forecasts with sales up 32% at $98 million for the second quarter ended in June. Adjusted EPS was 26 cents a share – up 271%. The company swung to a net profit of $8.35 million (15 cents a share) from a loss of $2.85 million (negative 5 cents) the year
Mattel CEO Ynon Kreiz said last weekend’s blockbuster release of Barbie – the toymaker’s first-ever major theatrical film – is a moment that “will be remembered as a key milestone in our company’s history.” His comments came amid second-quarter numbers in line with Wall Street forecasts. “The Barbie movie is a showcase for the cultural
Giant movie chain AMC Entertainment saw revenue dip 15% last quarter to $991 million and losses widen on a one-time impairment charge in a fourth quarter was tough on exhibition in general with Avatar: The Way Of Water hitting late in the year, and a few misfires. A fuller release sked led by a steadier
Imax said today it expects to return to its pre-pandemic gross box office level of $1.1 billion in 2023, even as it reported revenue of $98 million for last year’s fourth quarter, down 10% from the year before. Earnings per share fell to 19 cents from 31 cents. CEO Rich Gelfond attributed the dip to the Chinese
UPDATED with conference call comments: AMC Entertainment CEO Adam Aron shrugged off Covid, streamers and windows as real issues for exhibition currently, saying the biggest challenge facing the industry “above all else, is that movie theater operators need more movies.” “At this point, there is only one topic that should be… on the tip of
The nation’s biggest cinema advertising network National CineMedia saw revenue rise and losses narrow last quarter as executives cited brisk sales of movie theater ads and insisted that it’s business as usual fo now, even as part owner and major client Regal is swept up in bankruptcy. “From our perspective, nothing has changed on a
The nation’s third largest theater chain saw sales jump 50% and losses narrow sharply last quarter, underscoring the rebound of moviegoing despite a sluggish release schedule in August and September. “We have high confidence in the ongoing recovery of content and box office as delays caused by Covid fully subside, and studios derive increasing promotional
Marcus, the fourth largest U.S. movie chain, said a trickle of films for the three months ended in September impacted earnings but were offset by the recovered Marcus Hotel & Resorts, which surpassed pre-pandemic revenues. Both businesses were up from last year but theaters saw a slowdown from Q2 to Q3. “This not only highlights
Imax missed Wall Street’s third-quarter earnings projections due to what it called “a temporary slowdown in the Hollywood pipeline,” but edged revenue estimates thanks to a string of local-language blockbusters. The company’s net loss of 5 cents a share, reported Monday, marked an improvement from 8 cents in the year-ago period, but was worse than
Cinemark, which saw box office momentum buoy second quarter financials, said August and September will be tougher as new release volume dips. CEO Sean Gamble told Wall Street on a post-earnings call that the nation’s third largest exhibitor is optimistic on the business, but that the pace of an ongoing recovery depends on consumer sentiment
AMC Entertainment saw revenue surge and net losses continue to narrow last quarter on a string of blockbusters led by Top Gun: Maverick. Comparisons with 2021 aren’t hard but exhibitors are seeing ticket sales moving closer to 2019 levels. The nation’s biggest movie chain saw sales of $1.16 billion compared with $444.7 million for the
AMC CEO Adam Aron, who already has announced a push into retail popcorn sales and accepting payment in cryptocurrencies, waxed enthusiastic Monday at a flood of new ventures suggested by the chain’s 4.1 million retail investors. The floated ideas include everything from an AMC credit card and a return to movie producing to its own
AMC Entertainment saw revenue jump to $763 million last quarter, beating Wall Street forecasts on a strong movie slate and accelerating theatrical recovery. Adjusted EPS losses of 44 cents a share shrank from a loss of $8.41 a year ago. Analysts had anticipated sales of $708 million with an EPS loss of 53 cents. As
Cinemark, the nation’s third-largest movie chain, grew revenue and slashed losses last quarter, the first one since Covid with 100% of its theaters open. Talking with Wall Streeters on his last conference call as CEO, Mark Zoradi described a push into gaming (hiring a VP, setting up a dedicated division) as well as wrestling and
Imax sales surged last quarter as it delivered $142 million in global box office sales — up 100% year-over-year. It’s since broke records for the high-grossing month of October, with Dune being the latest hit Stateside, and said it expects an accelerating pipeline of blockbusters set for exclusive theatrical release to further build consumer momentum
AMC Entertainment saw revenue surge to $444 million last quarter from a pandemic-stalled $18.9 million a year ago. Net losses narrowed to $349 million from $561 million. Both beat Wall Street estimates, plumping the volatile stock by more than 7% in late trading. The nation’s biggest theater chain which struggled mightily to avoid bankruptcy for
In what doesn’t come as shocking news, AMC Entertainment chairman and CEO Adam Aron said Monday that the No. 1 theater chain has inked a deal with Warner Bros, ensuring a 45-day theatrical window for the studio’s releases in 2022. Warners previously hammered out a 45-day theatrical window with No. 2 circuit Cineworld, and its
AMC Entertainment chairman-CEO Adam Aron said the chain will be technologically equipped to start accepting Bitcoin payments for U.S. movie tickets and concessions ordered online by the end of the year. At a meaty and newsy webcast, Aron also said the chain will also start accepting Apple Pay and Google Pay. Aron noted that many
AMC Entertainment CEO Adam Aron sees two things protecting the circuit in the face of surging Covid cases trigered by the Delta variant – its own Safe & Clean protocols, and vaccinations. “To our knowledge there has not been a single transmission of Covid by an AMC guest over the past year,” he said. “Most
Big format giant Imax reported a surge in revenue last quarter and narrower losses compared with a shuttered 2020 as CEO Rich Gelfond said a deluge of Hollywood tentpoles arriving will drive people to theaters. The stock popped higher in after hours trading — up more than 3.5%. Imax posted revenue of $51 million revenue