AMC Entertainment just announced it will be showing its first ever Netflix movie across 200 movie theatres in the U.S and Europe.
Glass Onion: A Knives Out Mystery starring Daniel Craig will be released in the U.S. as well as the UK, Ireland, Italy, Germany, and Spain.
CEO Adam Aron stated on Twitter that success here could lead to more Netflix movies at AMC.
The notion that online streaming and movie theatres were competing it out no longer seem valid as these two companies start a new collaboration.
Will this change institutional investor sentiment?
Let’s discuss it!
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Statement from CEO Adam Aron
Adam Aron, AMC Chairman and CEO, commented the following:
“This announcement of our first-ever agreement with Netflix is significant for AMC and for movie lovers around the world.
As we have often said, we believe that both theatrical exhibitors and streamers can continue to co-exist successfully.
Beyond that, though, it has been our desire that we find a way to crack the code and synergistically work together.
By doing so, theatres will make more money by having more titles to show, and thanks to the larger cultural resonance those movies can gain from a theatrical release, they will wind up playing to a wider audience when they also are viewed on streaming platforms.
Accordingly, we also have long said that we would welcome Netflix movies in our theatres with the proper agreements in place.
This agreement that we have reached with Netflix for GLASS ONION: A KNIVES OUT MYSTERY is acceptable to AMC as it sufficiently respects the sanctity of our current theatrical window policy.
We are hopeful that a successful screening in our theatres this Thanksgiving will lead to more co-operation between Netflix and AMC in the months and years ahead.”
Continued
“Rian Johnson’s original KNIVES OUT was a wonderful film that delighted audiences in the United States and around the world, and was a real hit in our theatres.
It’s only fitting that its follow-up, GLASS ONION: A KNIVES OUT MYSTERY, which also stars Daniel Craig and which is already garnering high praise from critics, will be available at more than 200 of our AMC locations around the country this Thanksgiving holiday weekend.
Given the global appeal of the first movie, we are also excited to announce that it will be available at many of our Odeon locations in Europe as well.
We look forward to GLASS ONION: A KNIVES OUT MYSTERY, and we will endeavor to continue working with Netflix on future compelling titles that excite and engage theatrical audiences.”
Critics Stay Silent on the AMC-Netflix Collaboration
AMC critic Charles Gasparino so far has had no comment in regard to the AMC-Netflix collaboration.
The Fox Business personality has long prophesized the demise of movie theatres would be due to the popularity of online streaming services.
However, the AMC news comes as a big contradiction to what the television announcer has preached to retail investors.
AMC Entertainment recently announced it would be selling up to 425 million shares of APE to pay down their debt.
This will put the movie theatre chain at a significantly better fundamental state as a company.
Is AMC Entertainment proving it’s no longer a screaming short?
What do you think?
Leave your thoughts in the comment section of the blog down below.
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If movie theaters go away, so will restaurants, Bars, and other forms of entertainment as dumb critics/shorts would have you believe. One would have to be very foolish to believe all people will do is sit home and watch everything on their tiny TV screen. Just wont happen, IMHO. Therefore, AMC theaters have a very bright future and their AMC Stock will go much higher from the current bargain basement prices. I am loading up at these rediculous low prices. What are you doing?
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Could be a very smart move additional income on both sides. Worth the try.
Positive thinging by AMC
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Let’s start a discussion! Leave your thoughts below.