![]() Despite the faster foot traffic recovery, Cinemark also reported 16.00% of pre-pandemic revenue in Q1 and 30.76% in Q2.įor a business that fundamentally requires physical presence, low traffic equals low revenue and AMC is no exception.ĪMC’s recovery has been alarmingly slow, especially if compared to the one of Cinemark who already reached 63.46% of pre-pandemic visits in Q3 2021. In particular, AMC reported 12.35% of pre-pandemic revenue in Q1 and 29.53% in Q2. Throughout the first half of the year, the low levels of foot traffic resulted in even lower revenue. To put this in perspective, its competitor Cinemark theaters were already experiencing 54.65% of pre-pandemic visits in Q1 2021 that subsequently increased to 59.83% in Q2. In Q1 2021 visits were only 38.39% of visits recorded in Q1 2019, in Q2 traffic improved but remained still at 41.93% of pre-pandemic levels. ![]() Since the beginning of the year AMC has struggled to bring foot traffic back to pre-pandemic levels. This means that foot traffic still remains one of the best indicators of financial performance for the theatre chain, allowing us to extract a great deal of insights by looking at past and future visits. Unfortunately for AMC, there is not a single line of revenue on their income statement that does not depend on foot traffic or that can be moved online. Going to the movies has and will always require the act of physically visiting the cinema. Given the nature of the business, the company’s management doesn’t have the luxury of being able to transition to new models that are not as reliant on in-person visits at their locations. Correlation Between Foot Traffic And Revenue Ever since then, the company’s performance has suffered heavily from the decrease in visits. The chart below displays this impact with the cumulative number of visits for the aforementioned cinemas from the beginning of Q1 2019 to the end of Q3 2021.Īt the beginning of the pandemic in Q1 2020 visits started to drop drastically, hitting their lowest point in Q2 2021 at 8.1 million visits (compared to 55.8 million the previous year). Starting from February 2020 movie theaters have experienced decreased foot traffic, imposed limits on capacity and mandatory suspensions of operations. It’s not news that AMC has been hit by the COVID-19 pandemic and the numerous lockdowns and regulations regarding the entertainment sector. To give context and gain deeper understanding we will also use data from 75 Cinemark Theaters spread throughout the States. and look at the predictions for the 3rd and 4th quarter of 2021. In this report, we look at AMC’s foot traffic performance over the past 3 years by looking at 236 of its movie theaters in the U.S. On November 8, AMC Entertainment ( NYSE:AMC) will report its earnings for the third quarter of 2021. The company is experiencing a slow foot fall recovery and due to the nature of its business it has no way to transition to models that don’t require physical presence. However, it may go to a streaming platform a few weeks after its big-screen release.New data from Olvin, a New York and London-based retail analytics firm shows that AMC Entertainment has seen its foot traffic still at less than half of pre-pandemic levels in Q3. ![]() The Sony Pictures movie will only be available in theaters. Unfortunately, it won’t be streaming anywhere. Many are wondering if Venom 2 will be available to stream from home or if it’s opening in theaters only. Will that date stick? Only time will tell, but fingers crossed! Where can you stream Venom 2 online from home? 2, 2021, but the new release date is now Oct. The movie was set for a release date on Oct. Let’s begin with the most important fact, when is Venom: Let There Be Carnage even coming out? Is that the case for Venom 2? Let’s find out! Venom 2 new release date: When is the movie coming out? However, if you’re still not comfortable going to the movies, most have also been getting a streaming release. Which movie so far this year has been your favorite? As confusing and frustrating as the year 2021 has been, things are looking up for movies. Its release date was postponed once again, but our excitement remains. ![]() The highly anticipated sequel to Venom has been on our list for a long time. We are counting down the days until Venom 2 arrives to theaters - and with all of the delays, it hasn’t been easy! When does is the Venom 2 movie coming out? Where can you watch it online if you don’t want to go to a movie theater? We have the details to this and more! ![]()
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