[ad_1]
Movie-theater chain and meme-stock darling AMC Entertainment Holdings Inc. has announced “Sightline at AMC,” with ticket pricing based on sightlines to the movie screen within the auditorium.
AMC’s stock
AMC,
rose 5.7% Monday, compared with the S&P 500 index’s
SPX,
decline of 0.6%.
The ticket-price initiative offers three different options — standard sightline, value sightline and preferred sightline. Standard seats are the most common seats in an auditorium and are available for the traditional cost of a ticket. Value seats are in the front row, as well as select ADA seats, and are available at a lower price than standard-sightline seats. Preferred-sightline seats are typically in the middle of an auditorium and are priced at a slight premium to standard seats, according to AMC. Members of AMC’s Stubs A-List will have the preferred-sightline premium waived for all reservations, according to AMC.
See: AMC sells stake in Saudi Arabia joint venture, shifts to licensing partnership
“Sightline at AMC more closely aligns AMC’s seat pricing approach to that of many other entertainment venues, offering experienced-based pricing and another way for moviegoers to find value at the movies,” said Chief Marketing Officer Eliot Hamlisch, in an AMC statement. “While every seat at AMC delivers an amazing moviegoing experience, we know there are some moviegoers who prioritize their specific seat and others who prioritize value moviegoing.”
Theaters that offer Sightline at AMC will provide customers with a detailed map that clearly outlines each ticket option, according to the company. The initiative is applied to showtimes that start after 4 p.m. at participating locations, AMC said, and will not be available under the company’s Discount Tuesday initiative.
MarketWatch has reached out to AMC for additional details on the number of theaters offering Sightline at AMC.
See: AMC’s APE conversion a ‘massive’ opportunity to wipe out debt and drive expansion, says analyst
AMC describes itself as the largest movie-theater company in the world, with approximately 950 theaters and 10,500 screens across the globe.
Over the past two years, AMC has been on a roller-coaster ride that took it from beleaguered pandemic victim to meme-stock phenomenon. AMC used the steep rise in its share price to tap into equity and debt markets, raising $917 million in January 2021.
The company’s AMC Preferred Equity Units, or APEs, made their trading debut in August. Through its APEs, AMC created something like a 2-for-1 stock split, marking the company’s latest effort in a fight over stock issuances. The name is a nod to the investors who turned the company into a meme stock, who often refer to themselves as “apes” or “ape nation.”
Related: AMC stock tumbles after reporting 12th consecutive quarterly loss
AMC’s stock has fallen 29.9% in the past 12 months, compared with the S&P 500’s decline of 8.3%. The APEs have fallen 47.1% since their debut.
Of seven analysts surveyed by FactSet, three have a hold rating and four have a sell rating for AMC.
[ad_2]
Source link
