(Reuters) – AMC Entertainment on Wednesday reported a 9.3% fall in first-quarter revenue, as fewer blockbuster releases from Hollywood studios led to reduced attendance at its movie theaters.
Shares of the Leawood, Kansas-based company fell around 2% in extended trading.
The first quarter saw the releases of Walt Disney’s “Captain America: Brave New World” and live action “Snow White”, besides other movies, but they failed to have a major impact on box office collections.
Besides, the quarter was also marked by customers cutting back on discretionary spending due to macroeconomic uncertainty and recession fears.
“Setting aside those first quarters directly impacted by Covid and its aftermath, the January to March industry box office in 2025 was the lowest it has been since 1996,” said CEO, Adam Aron.
Revenue for the first quarter stood at $862.5 million compared to $951.4 million a year ago.
Attendance in theaters fell 10% to 42 million.
The demand for movie theaters is recovering since April 1, as the industry-wide domestic box office was double that of April 2024, the company said.
The second quarter has so far seen releases of the Michael B. Jordan-starrer “Sinners” and Disney’s “Thuderbolts*”, among others.
(Reporting by Kritika Lamba in Bengaluru; Editing by Leroy Leo)
Comments