The world’s largest cinema chain AMC is offering full cinema rentals for just $ 99 as it struggles to survive the pandemic
- AMC has 1,000 theaters and 11,000 screens in 15 countries
- In the United States, you can now rent a theater for up to 20 people for $ 99
- Movies like Shrek, Jurassic Park and Hocus Pocus are available
- For a little more new releases like Tenet and Honest Thief are offered
- AMC has said it may run out of money before the end of this year and go bankrupt
The world’s largest cinema chain offers the chance to rent an entire cinema for only $ 99, as it struggles to stay afloat during the coronavirus pandemic.
AMC, which owns or operates approximately 1,000 theaters and 11,000 screens in 15 countries, announced the offer on its website.
Up to 20 people can participate in the $ 99 screening for movies like Shrek, Hocus Pocus, Monsters Inc and Jurassic Park.
Later movies are a little more expensive, with Tenet, released in September, at $ 149- $ 349, depending on the time.
Honest Thief, Liam Neeson’s new film, which opened Friday, is available at the same price.
The offer is available throughout the United States except New York, Alaska and Hawaii.
AMC’s $ 99 rental offers are available throughout the United States except in New York, Hawaii and Alaska
Earlier this month, AMC said it could go out of business before the end of this year.
The Kansas-based company said its financial resources would be ‘largely depleted’ by the end of this year or early 2021 due to the ‘reduced fourth-quarter film shale’ as well as the ‘absence of significant increases in attendance from current levels. ‘
Tenet opened last month and is among the movies available for private rental from $ 149
AMC’s revenue fell to $ 941.5 million, a decrease of approx. 22 percent compared to $ 1.2 billion in the same quarter last year, according to a filing from the Security and Exchange Commission in June.
The company blames these losses for having closed its theaters to reduce the spread of the virus.
‘In line with these restrictions, all of our theaters around the world have temporarily suspended operations through June,’ the company said in filing.
‘During this period, we actually generate no revenue.’
On Saturday, Andrew Cuomo, the governor of New York, announced that cinemas in the state could begin reopening from October 23 with a capacity of 25 percent – but not in New York City.
Cinema owners have also been appalled by the decision by Hollywood executives to push for the release of movies like the new James Bond movie and Wonder Woman 1984.
Cinema chains worldwide have been hit hard by the shutdown caused by COVID-19
The number of viewers using streaming services has increased significantly since orders to stay home started last spring with streaming activity rising 60 percent, according to a Nielsen report.
Jeff Bock, senior analyst at entertainment research firm Exhibitor Relations, told CNN earlier this month that theaters will continue to be hit hard if these trends continue.
“We have to prepare for the inevitability that one or more of the big chains may not survive if this situation continues to come into play next summer,” Bock told CNN.
‘The number of cinemas that will be closed permanently will be directly proportional to how long it takes the United States to eradicate the virus.’