Actually, it might not have been the pandemic that killed the movie biz . . . Moreover, the American public growing tired of super hero fantasy schlock during increasingly harsh times could be an encouraging sign.
Either way . . . A faux local HQ could soon suffer even more layoffs amid the rise of streaming content services and people never wanting to leave their homes again.
Company line . . .
AMC CEO Adam Aron said in a statement AMC’s recovery was no sure bet: “AMC’s journey through this pandemic is not finished, and we are not yet out of the woods. However, while there are no guarantees as to what the future will bring in a still infection–impacted world, one can look ahead and envision a happy Hollywood ending to this story. We would like to think that someday when a movie is filmed about AMC and COVID, its title will be one compelling word, ‘Recovery.’ But, only time will tell.”
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Cinema giant AMC Entertainment has posted a smaller second-quarter loss and a rebound in revenue as it mounts a recovery from the severely-disruptive pandemic. The parent of AMC Theatres also unveiled a formal deal with Warner Bros.
Shares of AMC Entertainment rose 4% after the company posted a narrower-than-expected loss during the second quarter. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Losses per share: 71 cents vs. 91 cents expected Revenue: $444.7 million vs.
Developing . . .