This Week in Business: AMC to Rent Theatres to Small Groups
Updated: Oct 29, 2020
In business - if you fail to adapt to the times you will lose in one way or another. Blockbuster did not become client centric in the way that Netflix is now dominating the market. Taxi cabs only took cash and you see where that got them. All in all, COVID accelerated this process drastically.
AMC announced that it will be renting theaters to small private groups of twenty guests at a time. It will be charging hefty prices for watching movies in these trying times with your party of choice. Why worry about bringing outside food when the game has completely changed? Regardless, the rentals will cost $99 a piece and the price only gets steeper.
Rates could reportedly slide to $349 during in-theater experience and you can stay 15 more minutes at an additional $250.
It is clear that AMC is devastated from the pandemic and will charge any price necessary to account for the nearly 60% rate (Nielsen) in streaming during 2020.
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