Skip to main content

AMC Theatres says it may go out of business

AMC Theatres says it may not be able to open its doors again because of significant revenue losses from the coronavirus pandemic. 

The world’s largest movie theater chain, which has 1,000 locations across the globe, said that it has “sustainable doubt” that it can keep its theaters running, CNN reported. 

“We are generating effectively no revenue,” the company said in a regulatory filing Wednesday. 

AMC Theatres shuttered its theaters in March temporarily because of coronavirus restrictions. According to preliminary results of the company’s first-quarter earnings, AMC Theatres is expected to have a revenue loss of between $2.1 billion and $2.4 billion in the first quarter of 2020.  

AMC

Digital Trends reached out to AMC Theatres to comment. We will update this story when we hear back. 

Like most other industries right now, the movie industry has taken a big hit because of the coronavirus outbreak. Global box office receipts could take a $20 billion hits because of COVID-19, according to The Hollywood Reporter. 

Not only is movie theater attendance slowing down, but the production of future blockbusters is also screeching to a halt. Big-name movies such as No Time to Die, A Quiet Place Part II, Fast & Furious 9, and more have delayed their production or release, which could affect the movie theater business as well. 

“Even if governmental operating restrictions are lifted in certain jurisdictions, distributors may delay the release of new films until such time that operating restrictions are eased more broadly domestically and internationally, which may further limit our operations,” AMC Theatres told CNN.

For the time being, moviegoers have turned to get their fix on the latest films by watching newly released titles from the comfort of their own homes. 

New or upcoming movies such as Trolls: World Tour, Scoob!, The High Note, and The King of Staten Island have all either been released or will be available to watch on-demand instead of in a movie theater. AMC recently picked a fight over Trolls when an executive at Universal Studios implied the studio may release future movies on demand at the same time they’re in theaters.

Want more news, reviews, guides, and features from Digital Trends? Follow us on Apple News, Google News, and Flipboard.

Editors' Recommendations

Allison Matyus
Former Digital Trends Contributor
Allison Matyus is a general news reporter at Digital Trends. She covers any and all tech news, including issues around social…
The best places to watch free movies online
Home Theater Popcorn

It sure seems like everybody these days is either cutting or has already cut the cable cord. With the sheer breadth and convenience of streaming services, it makes sense. You can find practically anything you want to watch on streaming services these days, but even they are getting more expensive by the year. If you're a real bargain hunter, you want to find ways to watch movies online for free. Believe it or not, legal and secure free movie resources do exist. We've found them all for you. Here is our list of the best places to watch free movies online.
The Roku Channel

When Roku initially launched its free, ad-supported Roku Channel, it wasn't technically eligible for this roundup because you had to have one of the company's streaming media devices to see it. Roku devices certainly won't break the bank, but they aren't free. Now, however, the Roku Channel is available to anyone via the web, as well as through the company's free apps for iOS and Android.

Read more
The Walking Dead: All 10 seasons, ranked
Carol and Daryl walking together on The Walking Dead.

Never has a show jumped a proverbial shark only to land ever so steadily and tread water for a few seasons, then rise above once again like The Walking Dead. If you're one of the viewers who stuck with the show through its lowest points, you will have reaped the benefits of the big pay-off that came after the post-apocalyptic series hit its stride once again.

The Walking Dead's earliest seasons drew viewers into emotional, heart-wrenching scenes, shocking them with copious amounts of action and gore, and built characters who fans became deeply invested in as the story arcs developed. Following some questionable middle seasons, the show returned to its initial appeal thanks to reinvigorated elements that made it fresh and exciting once again.

Read more
Succession season 3 trailer suggests an all-out family war
Kendall and Logan Roy walking down a hallway, team members behind them in the show Succession.

The business world is fraught with cutthroat competition, backstabbing, wealth in excess, and bloated self-interest. But when this all exists within a single family, things can get really ugly. Such is the case with Succession, the Emmy Award-winning HBO series about the wealthy Roy family and patriarch Logan Roy's (Brian Cox) struggle with letting go of the media empire he built and finding a capable successor to take the reins. He has four grown children, each with their own strengths (and breathtaking weaknesses). But in Logan's eyes, none of them is truly worthy of his company, Waystar Royco.

Succession (2021) | Season 3 Official Trailer | HBO

Read more