AMC Entertainment to Expand Its Business Beyond Theatrical Exhibition and Enter the Multi-Billion Dollar Popcorn Industry
November 04 2021 - 4:05PM
Business Wire
AMC to operate shopping mall retail stores,
counters and kiosks serving freshly prepared AMC Theatres Perfectly
Popcorn, starting in 2022
AMC is also preparing to partner with food
delivery-to-home services, allowing movie lovers to order from a
nearby AMC movie theatre location and enjoy AMC Theatres Perfectly
Popcorn in the comfort of their own home
AMC will sell “To Go” packages of freshly
popped popcorn at its theatres for takeout and/or pickup
Coming later in 2022, consumers will be able to
purchase prepackaged and/or microwaveable ready-to-pop AMC Theatres
Perfectly Popcorn at supermarkets and convenience stores around the
country
AMC Entertainment (NYSE:AMC), the largest theatrical exhibitor
in the United States, in Europe & the Middle East and in the
world, today announced that it is expanding its business outside of
the traditional theatrical exhibition industry with plans to
capture a piece of the growing multi-billion dollar popcorn market.
AMC will sell its popular AMC Theatres Perfectly Popcorn, which has
been available to consumers in theatres for more than a century
continually since the year 1920, through four new platforms.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211104006280/en/
Photo courtesy of AMC Theatres
- Beginning in 2022, AMC will begin selling freshly made AMC
Theatres Perfectly Popcorn at select mall retail locations around
the country. Those new kiosks, counters and stores will feature
real AMC movie theatre popcorn and other AMC movie theatre
treats.
- Additionally, AMC also plans to make its AMC Theatres Perfectly
Popcorn, freshly popped in nearby theatres, available through food
delivery-to-home services. In this way, consumers will be able to
enjoy a slice of the AMC experience when being entertained at
home.
- AMC will sell "To Go" packages at its theatres of freshly
popped popcorn for takeout and/or pickup.
- Also coming later in 2022, AMC plans to offer prepackaged and
ready-to-pop microwaveable AMC Theatres Perfectly Popcorn, which
will begin hitting shelves in supermarkets and convenience stores
around the country.
The U.S. multi-billion popcorn market is expected to grow
significantly over the next several years. With the popularity of
AMC Theatres’ Perfectly Popcorn, and given AMC’s current position
as the largest freshly popped popcorn provider in the United
States, AMC believes that an expansion into the sale of popcorn on
a retail basis outside of theatres is a natural extension of AMC’s
core business.
AMC initially plans to launch up to five “AMC Theatres Perfectly
Popcorn” stores, counters and/or kiosks in shopping malls around
the country in the first half of 2022. These initial locations are
likely to be in malls without an AMC theatre location. AMC plans to
have up to 15 retail stores open by the end of 2022. Significantly
more locations are expected to open in 2023 and beyond. The menu
will consist of traditional and gourmet-flavored popcorn, candy and
other movie theatre treats, Coca-Cola Freestyle options and bottled
water. All such AMC Theatres Perfectly Popcorn locations will
feature popcorn that is freshly made on site, allowing consumers to
enjoy the unbeatable taste and aroma of “real movie theatre
popcorn” outside of the theatre.
Also in the plans for 2022, consumers will be able to order AMC
Theatres Perfectly Popcorn from nearby theatres, and have it
delivered to their homes through the use of existing
delivery-to-home mobile services. AMC will also begin selling “To
Go” packages of freshly popped popcorn at its theatres for takeout
and/or pickup. And AMC is working to offer prepackaged and
ready-to-pop microwaveable AMC Theatres Perfectly Popcorn, hitting
the shelves in supermarkets and convenience stores around the
country later in the year.
Adam Aron, Chairman of the Board and CEO of AMC, commented: “The
announcement that AMC will become a competitor in the multi-billion
popcorn market is so natural and logical, one wonders why the idea
has not been tried before. Needless to say, AMC knows popcorn ever
so well. On our busiest days, AMC Theatres currently pops in the
range of 50 tons of popcorn per day. But the popularity of popcorn
extends well beyond the doors of our movie theatres. With this new
AMC initiative, we expect to reach entirely new segments of the
U.S. population with our popular AMC Theatres Perfectly Popcorn.
For AMC Entertainment, this is an opportunity to diversify our
business and to create a new revenue stream for our company, all
the while delighting popcorn lovers whether they are in our
theatres, are on the go, or find themselves in the comfort of their
own homes.”
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe and the largest throughout the world
with approximately 950 theatres and 10,500 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, web site and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
amctheatres.com.
Category: Company Release
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211104006280/en/
INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
AMC Entertainment (NYSE:AMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
AMC Entertainment (NYSE:AMC)
Historical Stock Chart
From Apr 2023 to Apr 2024