AMC Bets on Premium Experiences and Diversification to Weather Box Office Uncertainty
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AMC faces challenges like competition from streaming and an uneven box office recovery after the success of "Barbie" and "Oppenheimer" films.
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To aid recovery, AMC is diversifying offerings, raising ticket prices, closing/renovating theaters, launching snacks and merchandise.
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AMC signed a deal to show Taylor Swift's concert film, hinting at more musician deals, which the CEO called "transformational."
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Domestic box office revenue is down 18% this year amid changing audience tastes and some superhero movie disappointments.
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Despite box office uncertainty, AMC profits are up as customers pay more for premium movie experiences and concessions.