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AMC Entertainment (NYSE:AMC), the largest movie theater chain in the world, reported a more than 15% increase in weekend revenue compared to the same weekend in pre-pandemic 2019.
Key reasons for the revenue boost are the opening of Jurassic World Dominion, and the continuation of sold-out theaters for Top Gun: Maverick.
More than 4.9 million movie fans attended the AMC theaters from June 9-12, making it AMC’s second-busiest weekend of 2022.
“It is so encouraging to see AMC’s admissions revenues topping those of the same weekend of 2019, prior to the pandemic which so depressed our revenues in 2020 and 2021. Clearly, we are seeing positive signs for a continuing recovery of the theatrical box office,” CEO Adam Aron said.
Top Gun: Maverick, a critically acclaimed sequel to the ‘80s big hit original starring Tom Cruise, earned $51.9 million in its third weekend, adding to the total of $145.1 million in weekend grosses for AMC.
Adam Aron believes that this is just the beginning of a very successful summer for AMC, given the fact that a number of big movies are yet to premiere in upcoming months. Some of the most expected titles are Lightyear (DIS), Elvis (WBD), Minions: The Rise of Gru (CMCSA) and Thor: Love and Thunder (DIS).
