Media Play News
Bringing Entertainment Home
Erik Gruenwedel
February 29, 2024
AMC Theatres, the world’s largest movie exhibitor, reported 2023 revenue of $4.81 billion, up 19% from revenue of $3.91 billion during 2022. Revenue drivers included food and beverage (up 27.4%) to $1.67 billion, and “other” (up 14.1%) to $452 million, which includes gift cards, in-theatre advertising, package tickets and theater meetings.
The exhibitor, like the theatrical business in general, benefited from the outsized box office performance of Barbie — the top-grossing movie in 2023 — and Oppenheimer, which defied expectations approaching nearly $1 billion in ticket sales.
The increase in the average ticket price was primarily due to higher ticket prices for Taylor Swift / The Eras Tour and Renaissance: A Film By Beyoncé and increased attendance for 3D content, partially offset by higher frequency of use by subscribers to A-List movie service, which affords members access to up to movies three times per week, including multiple movies per day.
AMC narrowed its fiscal year loss nearly 60% to $396.6 million from a net loss of $973.6 million in 2022.
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“Taylor’s movie in particular was the single highest-grossing movie of them all within the fourth quarter at the domestic box office and worldwide,” CEO Adam Aron said on the fiscal call. “At $275 million of gross, Taylor’s film also was the highest-grossing concert film of all time and the highest-grossing documentary of all time. It’s hard to believe, but it’s true.”
Taylor Swift’s record-breaking The Eras Tour concert movie is now expected to screen globally in more than 100 countries, starting on Oct. 13. AMC Theatres Distribution and its sub-distribution partners are working to reach agreements with movie theatre operators representing…
Rollout of premium video-on-demand (PVOD) this year seems increasingly remote after the CFO of the country’s largest theatrical chain said discussions with studios remain at an impasse. Speaking Jan. 9 at Citi 2018 Global TMT West Conference in Las Vegas,…
AMC Entertainment Aug. 8 said it posted net income of $8.6 million in the second quarter, ended June 30, compared to a net loss of $121.6 million in the previous-year period. Revenue increased 15.6% to $1.35 billion from $1.17 billion…
AMC Theatres Distribution and AMC Entertainment Oct. 5 announced that the Taylor Swift/ The Eras Tour concert movie has sold more than $100 million in advance tickets globally. The movie begins screening across 8,500 screens across 100 countries on Oct.…
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