AMC Launches a Private Theatre Rental Program

AMC’s declining revenue has caused the company to launch a Private Theatre Rental Program as of Nov.10, 2020. The company reported a $905.8 million quarterly loss. Many people contacted the corporation about private rentals during the coronavirus pandemic — within four weeks, the theatre made four times higher than the total amount of private theatre rentals in 2019.

AMCThey allow up to 20 friends and family members to watch a movie. It starts at $99.00, and guests can select their movie of choice and showtime. Twenty guests to comply with state and local regulations. Attendees have to wear proper PPE such as a mask at all times, and they also have to practice appropriate social distancing.

The rental fee for new release films depends on the location and theatre. Movies like “Freaky,’ “The War With Grandpa,” and “Tenet” will cost between $149.00 and $349.00 plus tax.

AMC Chief Content Officer Elizabeth Frank stated,

The feedback and results from our guests about the theatres being clean and safe have been positive. The private rentals provides an additional layer of safty and security to those moviegoers who are looking to see movies with their family members and friends.

Due to the pandemic and the collapse in box office revenue, theaters have reduced their operating hours. The corporation filed to sell stock to Citigroup Global Markets and Goldman Sachs to raise $47.7 million in cash to stay open. If they could not get other sources of liquidity, they may have to file Chapter 11 bankruptcy.

AMC Studio 30 has permanently closed after 27 years. It is the only Houston area theatre to be impacted.

Written by Jessica Letcher

Sources:

The Hollywood Reporter: AMC Theatres Launches Private Movie Screen Rentals; by Etan Vlessing
Variety: Struggling AMC Chain Launches Private Theatre Rentals Program; by Dave Mcnary
Click 2 Houston: AMC Studio 30 permanently closes after 27 years; by Briana Edwards

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Inset Image Courtesy of luna715’s Flickr Page – Creative Commons License

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