Will this make you want to go to AMC Theatres? Reopening a big movie chain such as theirs in the middle of a pandemic is going to come with expenses but word on the street is that some of those extra costs will be coming out of the hands of the consumers.
In a bid to keep patrons safe, new safety protocols will not come cheap and according to AMC Theatres CEO Adam Aron during an investor call that comes to us via "Variety", these costs will be "passed on to the consumers," which means the price that moviegoers pay for movie tickets or good and beverages from the concessions stand will be higher than they were before the pandemic.
Also playing a part in this decision was AMC renegotiating its debt recently so the company could stay afloat. Aron told investors that the company has lost more than $500 million over the past financial quarter, which left AMC with a lot to catch up on. Aron said, "I think we survived the corona crisis and now we've just got to get back to running the company really well."
One has to wonder if the increased ticket and food prices, in order to help front the bill for the new safety protocols, will sit well with consumers. AMC may be having major financial trouble but so are countless people that have lost their jobs in the wake of the COVID-19 pandemic. A trip to the movies was already pricey and now it could possibly be more expensive. No word on if Regal Cinemas or Cinemark will be following suit in terms of covering the costs for their safety protocols but it will be interesting to see if they do or not.
Would YOU be ok with increased ticket and concession prices in order to pay for new safety protocols?