AMC to rent entire theaters to moviegoers for $99 in bid to draw customers back

by Joel Abbott · Oct 20th, 2020 2:05 pm
30

Last Updated Oct 22nd, 2020 at 8:14 am

AMC Theaters announced this week that they will rent out entire theaters to patrons starting at $99, hoping to entice customers that have stayed away due to COVID-19.

Moviegoers will be able to rent a theater for up to 20 people on AMC's website. The price becomes more expensive with more people, with a party of 20 costing $349. Customers can choose from a list of 34 films, including classics such as "Jurassic Park" that start at the $99 price, or newer films for $149. Food and drinks are not included, but for $250, customers can bring their own food to the theater.

The move comes amid news that the Kansas-based theater chain – the largest in the U.S. – has posted a 91% loss in the third quarter of 2020 and is now facing bankruptcy. Overall revenue for the entire year is down 73%. Despite having 494 of its 598 U.S. theaters now open, attendance is still down 85%.

The rental plan is an attempt for the company to remain solvent after it announced that it would be out of cash by the end of the year.

🔦 Rival company Regal Theaters announced earlier this month that it would be closing all of its 536 U.S. theaters, putting 40,000 employees on furlough.


Comments

There are 30 comments on this article.

You must become a subscriber or login to view or post comments on this article.