Adam Aron said today he’s asked the theater chain’s board of directors to freeze his compensation for 2023 given the decline in AMC stock. “Biggest inflation in 40 years, so in 2023 companies will grant large % salary raises. But I do not want “more” when our shareholders are hurting. So, I recommended to the
Adam Aron
AMC Entertainment plans to offer a co-branded credit card starting in early 2023 for members of its loyalty program, a first in the theatrical exhibition industry and the latest venture by the movie chain, which will also be rolling out its own popcorn for sale at retailers next year. The card is a push
Among those quite happy with the re-installment of Bob Iger as Disney’s CEO was exhibition giant, AMC’s Adam Aron, who took to Twitter in the wake of the news exclaiming, “Based on box office grosses, Disney is the biggest film maker of any movie studio. Bob Iger coming back to again lead Disney as its
UPDATED with conference call comments: AMC Entertainment CEO Adam Aron shrugged off Covid, streamers and windows as real issues for exhibition currently, saying the biggest challenge facing the industry “above all else, is that movie theater operators need more movies.” “At this point, there is only one topic that should be… on the tip of
Giant theater chain AMC Entertainment filed today to sell up to 425 million AMC Preferred Equity Units, or APEs, its new securities that have seen a price collapse amid a sour market and investor backlash. They sank some more early Monday, then popped higher. AMC distributed the initial batch of APE shares to stockholders in
UPDATED with closing prices: AMC Entertainment’s new APE securities — AMC Preferred Equity Units – began trading today late morning in a messy session for the big exhibitor, whose primary stock plummeted, closing down 41%. at $10.46. It was up slightly in after-market trading. APE units were being distributed to AMC shareholders via their brokers
AMC Entertainment saw revenue surge and net losses continue to narrow last quarter on a string of blockbusters led by Top Gun: Maverick. Comparisons with 2021 aren’t hard but exhibitors are seeing ticket sales moving closer to 2019 levels. The nation’s biggest movie chain saw sales of $1.16 billion compared with $444.7 million for the
AMC Theatres announced its first newly-built theater of 2022 – the AMC Dine-In Topanga 12 in Canoga Park — will open June 2 as the pandemic-rattled exhibition business reshuffles. The launch will follow by a day the close of operations at nearby AMC Promenade 16 in Woodland Hills as the exhibitors continue to fine tune
In a sign that managing 4 million retail shareholders isn’t all fun and games, AMC Entertainment CEO Adam Aron said most advice het gets in voluminous social media correspondence is “well intended” but “some may be hurled at us with an intent of actually harming me or the company.” It’s the first time he’s publicly
AMC Entertainment CEO Adam Aron said an earlier gig as chief executive of the Philadelphia 76ers got him active on social media, tweeting with his hometown NBA team’s fan base. The experience proved key navigating a dramatic transformation in the theater chain’s shareholder base from mostly institutions to about 4 million private individuals. Until early
AMC Entertainment CEO Adam Aron said a Canadian court ruling requiring its biggest rival to pay a hefty fine is an “opportunity,” leaving Wall Street and AMC’s own legion of retail investors wondering what he meant. Last summer, in the midst of the pandemic, Cineworld, the UK-based parent of Regal Cinemas, scrapped a deal to
AMC Entertainment saw revenue jump to $763 million last quarter, beating Wall Street forecasts on a strong movie slate and accelerating theatrical recovery. Adjusted EPS losses of 44 cents a share shrank from a loss of $8.41 a year ago. Analysts had anticipated sales of $708 million with an EPS loss of 53 cents. As
AMC CEO Adam Aron, who already has announced a push into retail popcorn sales and accepting payment in cryptocurrencies, waxed enthusiastic Monday at a flood of new ventures suggested by the chain’s 4.1 million retail investors. The floated ideas include everything from an AMC credit card and a return to movie producing to its own
Theatrical giant AMC Entertainment announced it’s “expanding its business outside of the traditional theatrical exhibition industry with plans to capture a piece of the growing multi-billion dollar popcorn market.” That means it will be selling AMC Theatres Perfectly Popcorn through four new platforms starting next year, including at AMC Theatres Perfectly Popcorn kiosks at select
In what doesn’t come as shocking news, AMC Entertainment chairman and CEO Adam Aron said Monday that the No. 1 theater chain has inked a deal with Warner Bros, ensuring a 45-day theatrical window for the studio’s releases in 2022. Warners previously hammered out a 45-day theatrical window with No. 2 circuit Cineworld, and its
AMC Entertainment CEO Adam Aron sees two things protecting the circuit in the face of surging Covid cases trigered by the Delta variant – its own Safe & Clean protocols, and vaccinations. “To our knowledge there has not been a single transmission of Covid by an AMC guest over the past year,” he said. “Most
AMC Entertainment chairman-CEO Adam Aron said the chain will be technologically equipped to start accepting Bitcoin payments for U.S. movie tickets and concessions ordered online by the end of the year. At a meaty and newsy webcast, Aron also said the chain will also start accepting Apple Pay and Google Pay. Aron noted that many
AMC Entertainment CEO and newly anointed chairman Adam Aron is having a moment with shareholders — that army of retail investors he said in June numbered approximately 4.1 million and own more than 80% of the stock. Some of them found it hard to access the company’s annual meeting Thursday, which was held in person
AMC Entertainment Wednesday said it’s expanded the role of CEO Adam Aron to include chairman of the board, and selected Ambassador Philip Lader to serve as lead director. As previously announced, current non-executive chairman of the board, Lin Zhang, and Mao Jun (John) Zeng, both of Wanda, are stepping down as AMC directors following Wanda’s
AMC Entertainment has 4.1 million individual shareholders, the company disclosed Wednesday, as it heads towards an annual meeting in late July where all of them will be eligible to show up and vote on whatever’s on the agenda after spending months pumping up the stock on investing chat rooms. “The number of investors who want
Retail investing met marketing genius Wednesday as AMC Entertainment devoted a new area of its website to individual investors, stoking their love, doubling the stock price and — the company hopes — inflating membership of its AMC Stubs loyalty program. AMC has about 3 million individual investors now, 80% of its shareholders base. It was
AMC Entertainment launched an unusual program today called Investor Connect to communicate directly with a mass of individual investors in the U.S. that now own more than 80% of its stock and have been steadily buoying it higher. “Many of our investors have demonstrated support and confidence in AMC. We intend to communicate often with
AMC Entertainment’s onetime owner, China’s Dalian Wanda Group, has pretty much cashed out completely from the theater chain, revealing in an SEC filing Friday that it has pared its stake to a barely there 0.002%. Wanda first acquired AMC’s super-voting Class B stock – with three votes a share – in 2012, making it the
AMC Entertainment CEO Adam Aron was nearly giddy Thursday, quoting Winston Churchill, trying to top him, talking up a box office recovery, the chain’s expanded market share, cash position and hiring plans and millions of new retail investors who have replaced China’s Wanda Group as its core shareholder base. Like an Oscar acceptance speech, he
AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic. AMC expects to announce a net loss of between $572 million and $567 million.
AMC Entertainment revenue plunged last quarter to $162 million from close to $1.5 billion the year before as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street’s consensus estimates. The stock is up 3% in late trading. Net losses widened to $946 million, including a hefty one-time impairment charge,
While the No. 1 exhibitor AMC has traditionally been flexible about theatrical windows despite their pubic uproar against Universal last year, the chain’s CEO Adam Aron speculated today what the landscape would look like when we come out of this pandemic. “What we learned from the Universal agreement, is that every studio seems to have
UPDATED with AMC proxy figures, Aron’s 2020 compensation: In one of the few interviews he has granted during AMC Entertainment’s white-knuckle 2021, CEO Adam Aron hailed the reopening of New York City and shared his thoughts on the “Reddit rally.” Speaking with CNBC (watch the full segment above) on Friday, he said advance ticket sales
AMC Entertainment CEO Adam Aron earned $20.9 million in total compensation last year, double $9.6 million the year before due to a big bonus and stock awards. According to the company’s SEC filing Friday, Aron’s package in 2002 included a base salary of $1.1 million, a bonus of $5 million and stock award of $14.8
AMC Entertainment, the nation’s largest theater chain, said Friday it’s awarding CEO Adam Aron and other executives “supplemental special incentive cash bonuses” to recognize the challenge they faced steering the embattled company on a financial rollercoaster over the past pandemic year. Corporate associates and theatre management will also get special bonuses, with all payouts coming