“In mid-March we were forced to pivot the entire company to respond to the effects of the pandemic,” CEO Adam Aron said in a statement. Indeed, Q1 revenue was up 10% through February compared with a year ago. Leawood, Kansas-based AMC saw the wheels come off its business in mid-March when the movie theater industry worldwide essentially shut down due to the spread of the coronavirus. Subscribe HERE to the FREE Media Play News Daily Newsletter! Revenue was $941.5 million, down 21.6% from revenue of $1.2 billion in the year-ago period. The exhibitor lost $130 million during the previous-year period. “While we are in active dialogue with Universal, no movies made by Universal Studios are currently on our docket,” AMC CEO Adam Aron said in a statement.ĪMC and Universal had a falling out after the studio’s PVOD release of Trolls World Tour generated an impressive $100 million in PVOD revenue in three weeks, resulting in studio boss Jeff Shell announcing all future theatrical titles would include concurrent digital retail distribution if possible.Īron responded that AMC would boycott all future Universal and other studio titles earmarked for digital/theatrical distribution.Īs previously disclosed, AMC formally revealed it lost $2.17 billion for the fiscal first quarter ended March 31. The world’s largest exhibitor June 9 revealed it remains in discussions with the studio regarding the latter’s plan to launch movies in theaters concurrent with premium VOD in the home. AMC Theatres Has No Universal Movies Slated for ReleaseĪMC Theatres is sticking to its guns, boycotting all new-release feature films from Universal Pictures.
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