AMC Plans Changes to Its Theaters That Could Affect How You See Movies
AMC Theatres has plans to implement changes at several of its theaters in the U.S. and in Europe over the next few years that will affect audience members’ movie-going experiences.
The international theater chain previewed some of those changes in a press release that was issued on Thursday, Nov. 7. As the company announced, it plans to put between $1 billion and $1.5 billion toward theater improvements, with those adjustments expected to be implemented over the upcoming four to seven years.
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The investment strategy, which the company is calling its “Go Plan,” aims to help the theater chain “thrive as the box office recovery gains momentum.” Theater companies were walloped during the shutdowns implemented amid the coronavirus pandemic and the resulting turn toward streaming. Many have continued to struggle amid fluctuating box office numbers even after audiences were able to return to theaters to watch new releases in person.
The goal of the Go Plan will be to “provide guests with an even greater selection of premium experiences, immersive sight & sound enhancements, more comfortable seating and upgraded theatres,” according to the Thursday press release. These “enhancements” will include improving the seating at popular AMC locations and increasing the number of large format viewing experiences, which include AMC’s IMAX with Laser and Dolby Cinema options.
Though the company said it aims to implement these changes over the next several years, the exact timing will depend upon how the box office performs moving forward and AMC’s own capital and liquidity as a company.
In a statement included in the press release, AMC Chairman and CEO Adam Aron described the strategy as “going back on offense.”
“This Go Plan is AMC’s most aggressive, forward-looking theatrical investment initiative this decade, and will greatly enhance the moviegoing experience for millions of our U.S. guests,” Aron added.
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