AMC Entertainment Raises $600,000 Selling One Item
AMC Entertainment (NYSE:AMC) CEO Adam Aron said the company made $600,000 selling 20,000 Ant-Man popcorn helmets in just one day.
Ant-Man and the Wasp: Quantumnia was pre-released on Thursday February 16th and debuts on February 17 worldwide.
“AMC creativity at work, selling 20,000 Ant-Man popcorn helmets for $600,000 yesterday in just one day,” said Adam Aron on Twitter.
“If we did that EVERY day (which we can’t, not all movies of Ant-Man appeal with families), would be $220 million of annual revenue! More collectibles ahead with future movies.”
More collectibles ahead in the future signals an increase in revenue for the movie theatre chain company.
Coupled with its online merchandising store, AMC Entertainment has found additional income generating streams early on this year.
Where movie titles lack, sales in both merchandise and collectibles may compensate.
Is AMC Entertainment one step closer to positive cash-flow?
Absolutely – an analyst says AMC may generate free cash flow by 2024, but investors say the company has the potential to make it happen sooner.
Streaming Services Take a Tumble
“What we saw during the pandemic is a lot of studios experiment with different options releasing films straight to streaming platforms, releasing them simultaneously in theatres and streaming, and what worked the best was releasing straight to theatres,” said B. Riley Securities Senior Analyst Eric Wold.
While the ‘short thesis’ remains strong on Wall Street, things have begun to change fundamentally in 2023.
We’re seeing online streaming platforms are not what experts predicted them to be.
Disney’s Bob Igor made the following statement:
“The streaming business, which I believe is the future and has been growing, is not delivering basically the kind of profitability or bottom line results that the linear business delivered for us over a few decades,” Iger said.
In the interim, Disney hopes to cushion that short fall by continuing to rely on traditional forms of distribution, releasing movies on the big screen, where it recently scored blockbuster successes with “Avatar: The Way of Water” and “Black Panther: Wakanda Forever”.
A Bold Entrance from Amazon Studios
Amazon Studios is now officially contributing to the movie theatre industry in 2023.
Amazon will be releasing its first-ever original movie in theatres globally on April 5th, 2023.
AIR tells the story of the game-changing partnership between Nike and a then-rookie named Michael Jordan.
AMC’s Adam Aron has stated that what the movie theatre industry lacks today is more film titles.
Amazon insiders who asked not to be named said the company aims to make between 12 and 15 movies annually for theatrical releases.
This is the largest commitment to the movie theatre industry by an internet company, said Bloomberg.
All AMC Entertainment needs today is a belt of new movie titles coming out to maintain theatres packed year-round.
For more AMC Entertainment news, visit our ‘Breaking AMC Stock News 🍿” tab for regular updates.
Related: Adam Aron Says AMC Critics Are Fundamentally Wrong
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