AMC Entertainment has reported mixed fourth-quarter results, which saw revenues rise 2.4% to $1.45 billion, despite a 4.4% drop in U.S. attendance to 62.3 million.
The exhibitor, owned by Dalian Wanda Group, announced a fourth-quarter loss of $13.5 million, compared to a year-earlier profit of $170.6 million, due to $84.3 million of expense related to impairments of “long-lived assets.”
The company’s announcement, released after the stock market closed, also said it posted record food and beverage revenues per patron in the U.S. and international markets. AMC said its Stubs A-List subscription service, launched in 2018 in response to MoviePass, has more than 900,000 members. MoviePass went out of business last month.
AMC president and CEO Adam Aron said, “These impressive results illustrate the power of customer engagement through the AMC platform, especially from our A-List subscription program and AMC Stubs loyalty program in the U.S., returns from our industry-leading recliner seating investments both in the U.
The exhibitor, owned by Dalian Wanda Group, announced a fourth-quarter loss of $13.5 million, compared to a year-earlier profit of $170.6 million, due to $84.3 million of expense related to impairments of “long-lived assets.”
The company’s announcement, released after the stock market closed, also said it posted record food and beverage revenues per patron in the U.S. and international markets. AMC said its Stubs A-List subscription service, launched in 2018 in response to MoviePass, has more than 900,000 members. MoviePass went out of business last month.
AMC president and CEO Adam Aron said, “These impressive results illustrate the power of customer engagement through the AMC platform, especially from our A-List subscription program and AMC Stubs loyalty program in the U.S., returns from our industry-leading recliner seating investments both in the U.
- 2/27/2020
- by Dave McNary
- Variety - Film News
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