It had to happen, with AMC Theatres having just posted quarterly losses of more than half a billion dollars, a reopening of its doors to hundreds of locations had to be imminent. Well, beginning later this month, that’s exactly what’s going to happen, as hundreds of its theaters will reopen for business, but with ticket and concession prices raised significantly. Why? Speaking on a recent investor’s call (via Variety), AMC CEO Adam Aron blamed the price hike on the rigorous training to make sure all of the employees are following the rules and, no, not because they have been on financial life support these lasted several months. What do you believe is the real reason?
With moviegoers already reluctant to go back to the cinema before a vaccine is found, higher costs for movie tickets may backfire for AMC as it may turn off folks who were on the fence in even going to watch Christopher Nolan’s “Tenet” when it is released in the U.S, on Labor Day— sitting in an enclosed space for two hours with potentially sick people all around you was already not the most enticing proposition for many, but adding the fact that your $20 movie ticket may actually cost you $5 or $10 extra could be a dealbreaker for plenty.
As AMC seems to be in financial jeopardy, there is the inevitable rush to reopen its theaters as quickly as possible. Of course, none of this can happen without governors of each state allowing movie theaters to operate at semi or full capacity and with the strictest of COVID-19 guidelines (here’s looking at you New York and California). Of course, as mentioned, a lot of people are going to pass on going to theaters until there is a vaccine, ditto if they have to wear a mask for 2-3 hours when they can easily sit at home and not worry about getting sick while watching VOD or Netflix.
I’ll be attending a “Tenet” press screening on August 24th.