The exhibition chain reports this morning in an SEC filing that it had a $72.8M loss in the last three months of 2011 — more than double its $32.8M loss in the quarter a year ago — on revenues of $557.3M, down 7.6%. Attendance fell 8.7%. With a decline in the number of 3D and Imax films which come with higher ticket prices, patrons on average paid 1.4% less to get in than they did a year ago. Admission revenues at theaters open a year or more were down 9.7%. On top of that, the company took a $17.8M impairment charge on its RealD stock holdings, and lost $11M paying off and modifying its debt. There are no analyst forecasts because AMC isn’t publicly traded: It’s owned by investment funds led by J.P Morgan Partners, Apollo Management, Bain Capital, The Carlyle Group, and Spectrum Equity Investors. Last year they filed paperwork at the SEC to take the company public, but that effort’s been on hold. At year end, AMC had 347 theaters with 5,048 screens. The filings come as AMC disclosed that it has taken out new loans to help it buy up to $160M of the outstanding $300M from Senior Subordinated Notes due 2014 on which it’s paying 8% interest.


Good, because that ownership group is a motley collection of rancid vile asset stripping rapists. Oh excuse me, “private equity” groups…
LOL, finally a winning post. I’ve been waiting weeks.
Increasingly expensive tickets edging absurdity ($15+ IMAX D matinees???). Minimum 50% chance of terrible exhibition on any visit. 1 minimum wage worker running 14-16 screens with no proactive policies for auditorium/show monitoring.
Don’t just blame the content.
See, that what happens AMC when you raise your prices so high, (I paid like an extra $3/ticket to see DRAGON TATTOO in some special digital that wasn’t even IMAX and couldn’t tell the difference), consumers begin to question if they should really go out to the movies or just rent a DVD, or hey, maybe do something else.
Who had the bright idea of charging for the AMC Stubs Rewards Program? Because I had viewed 227 movies under the old program, they sent me a free card for a year…but I don’t understand charging $12 a year for the priveledge of buying overpriced movie tickets and popcorn (you get a $10 credit every $100 spent)
As screens get smaller (more crammed into a building) and home theater units get cheaper why would any one go to a theater, except for a 3D blockbuster or Imax movie?
Maybe people like the interaction lol
Yeah, like my interaction with minorities who can’t stfu during the movie. Oh wait, that’s why I don’t go anymore.
No wonder. It’s too expensive to go to movies these days, especially given the horrible audience experience (no ushers to deal with talkers, cell phone users, and noisy kids), and the lousy movies.
Wanna know how to do it right? Check out the Alamo Drafthouse theaters in Texas. Since most new movies are not good, they often show classic movies and cult favorites that draw in big audiences.
Plus, the Alamo Drafthouse actually enforces good audience behavior. They expel cellphone users, for instance. Audiences like standards of public behavior. Ignore them and the audiences will go away, AMC.
Too high average ticket prices — check…
3D visuals that nobody asked for driving prices further up(!) — check…
Generally lousy film content — check…
Actors, filmmakers, and production companies with attitude complexes that rub at least half the potential film audience the wrong way — check…
An increasingly cheaper option of creating an in-home cinematic viewing experience where you don’t have to deal with high-procession concession (food) stands, screaming kids, and rude cell phone users as well as idiots that shout back at the screen — check…
Cheap rentals available from Netflix, Red Box, and other venues which at least partially alleviate the feeling of being “ripped off” and “losting X hours of my life that I’ll never get back” — check…
Now why is the film industry tanking again…?