: EXCLUSIVE: AMC boosted by Taylor Swift and summer blockbusters, cinema foot-traffic data show

by | Oct 24, 2023 | Stock Market

AMC Entertainment Holdings Inc. is enjoying a foot-traffic boost thanks to “Taylor Swift: The Eras Tour” and summer blockbusters “Barbie” and “Oppenheimer,” according to U.S. data from analytics company Placer.ai. “Despite the ongoing economic headwinds impacting many consumer segments, out-of-home entertainment emerged as one of summer’s major winners — in large part thanks to the blockbuster success of Barbie and Oppenheimer,” Placer.ai said in a statement shared exclusively with MarketWatch. “The movies, both released on July 21st, 2023, drove massive and sustained year-over-year increase in weekly visits to leading chains, including AMC Theatres, Regal Cinemas, and Cinemark.”

The data also suggest that cinema chains are getting closer to prepandemic visit numbers. Compared with 2019, overall visits to AMC
and Regal during the third quarter were down by 16.9% and 19%, an improvement over 30.8% and 32.1%, respectively, in the second quarter, according to Placer.ai. Cinemark Holdings Inc.’s
third-quarter 2023 foot traffic even exceeded third-quarter 2019 visits by 0.9%. Related: AMC still riding a ‘Taylor Swift: The Eras Tour’ wave “Part of the movie theater visit growth was likely driven by an increase in the share of repeat visitors,” Placer.ai said in the statement, citing the massive b …

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