AMC Entertainment just introduced a new income stream through its new AMC Visa card.
Moviegoers will now get a chance to earn rewards points on all AMC Entertainment purchases.
The movie theatre chain currently has a waiting list where the cards will become available in early 2023, according to the official website.
AMC Stubs members who sign up for the waitlist and apply for a card will be entered for a chance to win a trip to attend a red-carpet movie premiere with AMC Theatres CEO Adam Aron.
The strategy aims to increase its revenue by distributing these credit cards amongst avid moviegoers and its most loyal shareholders.
And it looks like many of Adam Aron’s followers on Twitter have already begun to sign up.
If there’s one thing Adam Aron is an expert on, it’s on raising cash for the company.
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AMC Entertainment News Today
AMC Entertainment CEO Adam Aron announced on Twitter today that AMC will now be accepting applications for its new Visa card to be distributed in early 2023.
The company has creatively come up with new ideas since its resurrection in 2021 on how to raise capital to pay down their debt.
In November, the company launched its first-ever online merchandise store, selling t-shirts, hoodies, and other AMC branded items to their customers and shareholders.
AMC Entertainment announced a month prior that it had reduced its debt by $106 million and extended its maturities until the year 2027.
The movie theatre company was able to raise cash by capitalizing on its preferred equity (APE).
APE is another genius way the CEO was able to capitalize from his shareholders.
Even now as AMC shareholders continue to buy APE shares, they’re supplying the company with an income stream of its own through a capital pool.
While APE may not be a shareholder incentive, it certainly is for the company.