AMC Entertainment CEO Adam Aron on Box Office Drought: ‘We Need More Movies’
By Movieguide® Staff
As AMC Entertainment struggles to find a footing due to box office woes, the company’s CEO, Adam Aron diagnosed it as a simple problem; not enough movies.
“Above all else, movie theater operators need more movies,” he told Deadline.
“The industry wide box office is on a rebound both domestically and globally, clawing and climbing its way back,” Aron added at a recent press conference, noting that theaters anticipate strong outings from Marvel’s WAKANDA FOREVER.
“We’re going to look to either phase out AMC On Demand or joint venture with another party to offers that same capacity to our guests.”
However, even larger theater chains like AMC cannot survive on one Marvel movie every couple of months.
“Exactly as anticipated and foreshadowed on our last quarterly earnings call, our third quarter results were impacted by a particularly soft industry-wide box office in the latter two-thirds of the 2022 third quarter, but encouragingly our overall per-patron metrics for both admissions revenue and food and beverage spending remain well above pre-pandemic levels, growing a sizable 12% and 30%, respectively, compared to the third quarter of 2019,” Aron said of their quarterly loss.
“Our recovery continues, and we look forward with enthusiasm to a return to a more robust film slate in the fourth quarter of 2022, which has already started strong with the release of Black Adam,” he continued. “We expect to make more business development announcements in the coming weeks and months, which along with an improving movie theatre sector positions AMC Entertainment to create value for all our stakeholders.”
However, a lack of movies is a shallow way of looking at the box office problem that so many theater giants face today.
In the months of September and October alone—historically slow months for box office revenue—19 nationwide releases hit theaters.
By comparison, in 2019 there were 26 nationwide releases during the same months. In 2020, there were only 7 nationwide releases due to the COVID-19 pandemic.
However, last year in 2021, there were also 21 nationwide releases.
COVID-19 regulations no longer play a factor in the low attendance at movie theaters but majors but it is not for lack of movies but rather a lack of the right movies.
In 2020, the box office was carried by family-friendly movies like THE CROODS 2, which appealed to the largest audiences. In 2021, uplifting, pro-family movies like A QUIET PLACE PART II helped revive a seemingly atrophied medium.
Movieguide® previously reported:
While the box office as a whole has faltered amid the coronavirus pandemic, THE CROODS: A NEW AGE’s continued success confirms Movieguide® hypothesis that moral, uplifting and family-friendly movies have a greater chance at reviving the domestic box office than movies rife with immoral content.
Universal U.S. distribution Boss Jim Orr told Deadline: “We unleashed the best in industry marketing to drive as many people to as many opened theaters as we possibly could, and the results speak for themselves,”
Orr continued: “When you have an incredibly charming film, people want to come out and want to be together in a theater. Those that do, did, and enjoyed the Croods: A New Age very much.”
While Movieguide®’s hypothesis was relevant when the box office was stable, COVID-19 has proven the importance of movies like THE CROODS: A NEW AGE.
“The Croods: A New Age further solidifies Dreamworks Animation’s impeccable reputation of creating beautifully animated films and quality family entertainment with global appeal,” Orr said. “We are very proud of our ability to continue to support our exhibition partners in whatever ways we can as we look to bring audiences a sense of normalcy during these uncertain times, making this holiday weekend debut of The Croods especially gratifying in this difficult theatrical landscape.”
Read More: A QUIET PLACE PART II Leads Box Office Recovery Over Memorial Day Weekend
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
