Latest news with #AdamAron
Yahoo
4 days ago
- Business
- Yahoo
New Jersey's Montclair Film Revives 103-Year-Old Bellevue Theatre
EXCLUSIVE: New Jersey non-profit Montclair Film has signed a multi-year deal to operate the century-old Bellevue Theatre, expanding its footprint in the New York City suburb. Built in 1922, the Tudor-style theater in Upper Montclair has been closed since 2017. When it reopens later this year, its three screens will feature a year-round selection of current releases and repertory titles. More from Deadline A Year Out From 2026 World Cup, Broadcasters, Officials And Marketers Start Blowing Their Vuvuzelas Korea's Lotte & Megabox Cinema Chains Set To Merge Amid Key International Market's Recovery Woes AMC Entertainment CEO Adam Aron Sees $11 Million Pay Package For 2024 The venue will also be a site for the Montclair Film Festival, which is put on each fall by Montclair Film. The organization also does year-round programming at The Claridge, a restored six-screen arthouse in Montclair. Cinema505, a microcinema, performance and event space, is also run by Montclair Film. Located 20 miles west of New York, Montclair has been home to a number of people in the film industry and the media business. CBS late-night host Stephen Colbert and his wife, Evelyn, have championed the film festival as longtime residents of Montclair. This year's festival is slated to run from October 17 to 26. The Bellevue was designed by architect J.H. Phillips. 'We are so excited to be able to bring the movies back to The Bellevue Theatre,' said Evelyn Colbert, President of Montclair Film's Board of Trustees. 'Our community has been clear in sharing their desire to see The Bellevue Theatre thriving again, and we are counting on that passion and enthusiasm to help us re-establish The Bellevue as a destination for new memories and experiences. Without an audience, there is no cinema, and we look forward to this new opportunity to expand upon our mission to transform our community through the power of film.' Montclair Film Artistic Director Tom Hall said operating the Bellevue Theatre will 'allow us to expand and diversify our programs, delivering more opportunity for filmmakers and distributors to share their films, and offering us tremendous new flexibility to grow the impact of cinema in our community.' Best of Deadline The Movies That Have Made More Than $1 Billion At The Global Box Office 2025 TV Cancellations: Photo Gallery Everything We Know About 'Stranger Things' Season 5 So Far
Geek Tyrant
15-07-2025
- Business
- Geek Tyrant
AMC Theatres Offers 50% Off Tickets for Tuesdays and Wednesdays for Stubs Members — GeekTyrant
AMC Theatres is doubling down on midweek deals. The world's largest cinema chain is expanding its popular discount program by offering 50% off movie tickets on both Tuesdays and Wednesdays, but there's a catch… you have to be an AMC Stubs member. This new offer replaces the old $5 Tuesday deal and brings the pricing in line with AMC's recently introduced 50% off Wednesdays. It's part of the chain's broader strategy to bring more people into theaters during typically slower days. According to AMC, the deal applies to all movie formats, though premium screenings like IMAX and 3D still carry their usual upcharges, and some exclusions apply, especially during holiday weeks or for select films. AMC is also tossing in a bonus and offering discounts on its small popcorn and drink combo on both days, hoping to sweeten the deal for frugal filmgoers. So why the push for weekday traffic? The box office is still hurting. Despite some hits here and there, ticket sales are still down around 25% from 2019, the last full year before the pandemic flipped the industry on its head. People are pickier, and thriftier, about what they leave the house (and open their wallets) for. AMC CEO Adam Aron said: 'Following the overwhelmingly positive guest response to our announcement of 50% Off Wednesday ticket pricing, two things became clear. First, our Discount Tuesday program will benefit from clear, concise messaging that resonates with value-seeking moviegoers. So, we are changing our Tuesday prices and our Tuesday consumer communications such that Tuesdays and Wednesdays will both feature the same 50% off pricing offer.' He added: 'And second — those moviegoers are also seeking value on concessions. While moviegoers are not required to purchase any food or drink to take advantage of the ticket price discounts, there is an opportunity to add incremental snack purchase revenues for AMC on Tuesdays and Wednesdays.' AMC's been experimenting with all sorts of things to keep the business afloat from selling popcorn in malls to launching a branded credit card, and even investing in a mining company. More recently, the company increased the number of pre-show ads to help pad revenue without touching ticket prices. With over 36 million people enrolled in AMC's Stubs program, which is free at the basic tier, this new offer might just give hesitant moviegoers a reason to head back to the theater… at least on a Tuesday or Wednesday.
CNN
14-07-2025
- Business
- CNN
AMC's 50% discounts are here. Will it help revive the movie industry?
With the rising popularity of streaming services and increasing costs of attending a movie — from tickets to refreshments — movie theater attendance has suffered. AMC is trying to change that with 50% ticket discounts on Tuesdays, the most popular moviegoing day, as well as on Wednesdays. AMC CEO Adam Aron cited 'overwhelmingly positive guest response' for expanding the 50% discount to Tuesday tickets in a press release. 'A lot of theaters have seen the positive impact of instituting a weekly discount day. And right now, it's very telling to see the No. 1 chain in the country and in the world institute a second one,' Daniel Loria, editorial director at BoxOffice Pro, told CNN, adding that other chains could follow suit to attract customers. A monthly streaming subscription can cost as low as $7.99 — far less than a $25 premium screening in New York or Los Angeles. But for consumers, the decision still comes down to the price of a movie compared with other outings, said Loria. Going to the movies can be cheaper and easier than attending sports events, an amusement park or a concert. At the extreme end, prices for those kinds of events can even run into the thousands. But consumers still care about the increased cost of going to theaters compared to staying at home, according to Jackie Brenneman, founding partner of cinema industry consultancy The Fithian Group. Expanding discounts could dispel the notion that paying for a movie ticket isn't worth the money and effort, but theaters' pricing is a secondary incentive, and theaters need more dynamic offerings, she added. While ticket sales are an important source of revenue, theaters also make money come from subscription programs, concessions and merchandise. Subscription models, such as allowing moviegoers to watch a set number of movies per week for a monthly cost, are one way theaters have tried combating streaming services without pricing out consistent moviegoers. At AMC, for instance, an A-List subscriber can watch four movies a week by paying $25.99 a month. Regal Cinemas, the No. 2 US movie chain, offers a similar model, Regal Unlimited, with a base plan of $21.49 each month for an unlimited movie pass and a 10% discount on concessions, among other benefits. Theaters have also hopped on a trend of unveiling pricey special edition popcorn buckets and franchise-specific merchandise. Some merchandise doesn't land well with audiences, warned Shawn Robbins, director of analytics at Fandango and founder and owner of Box Office Theory. 'But all of this, viewed as a whole, is just broadening what the moviegoing experience is to a customer when they buy a ticket,' he said. Meanwhile, Hollywood continues to churn out big-budget films that moviegoers could prefer to see in theaters rather than on a flatscreen, computer, tablet or smartphone. 'Consumers are going more often to bigger blockbusters, and they're watching them on the most premium format available. So they are actively choosing the most expensive ticket price out there,' Brenneman said. There are far fewer movie screens today than there were before the pandemic, when attendance dropped off a cliff. In 2024, there were roughly 35,481 cinema screens, a 9% decline from 2022 and a 13.8% decline from 2019, according to data provided by research firm Omdia. There have been signs of a rebound, as the overall box office has seen gain after studios have shifted from the 'streaming exclusive' mentality, says Loria. A slow first quarter due to some underperforming movies was countered by a strong second quarter and a record-breaking Memorial Day weekend for Hollywood. According to Comscore data, the box office is up 15% year-to-date versus 2024 due to the second quarter rebound. But earnings for 2025 are still down 24.1% compared with 2019. Discounted tickets are one method to capitalize on that moviegoing momentum, providing a boost for theaters like AMC and struggling malls and shopping centers where theaters have served as destination points. A study by Beacon Economics estimates that for every dollar spent on movie nights, $1.50 is added to the economy. The success of recent hits, like Universal Pictures' 'Jurassic World Rebirth' and Warner Bros. Pictures' 'Superman' could bolster upcoming releases, like Paramount Pictures' 'Smurfs' and Disney's 'Fantastic Four.' Warner Bros. Discovery is the parent company of CNN. Robbins still believes that the summer box office could gross $4 billion — the second post-pandemic year to do so, following 2023. 'There's no perfect balance, but I think (discounts) are positive steps toward that goal of being able to foster that big communal event, but still have these opportunities in the middle of the week when theaters are a little quieter,' Robbins said.
CNN
14-07-2025
- Business
- CNN
AMC's 50% discounts are here. Will it help revive the movie industry?
With the rising popularity of streaming services and increasing costs of attending a movie — from tickets to refreshments — movie theater attendance has suffered. AMC is trying to change that with 50% ticket discounts on Tuesdays, the most popular moviegoing day, as well as on Wednesdays. AMC CEO Adam Aron cited 'overwhelmingly positive guest response' for expanding the 50% discount to Tuesday tickets in a press release. 'A lot of theaters have seen the positive impact of instituting a weekly discount day. And right now, it's very telling to see the No. 1 chain in the country and in the world institute a second one,' Daniel Loria, editorial director at BoxOffice Pro, told CNN, adding that other chains could follow suit to attract customers. A monthly streaming subscription can cost as low as $7.99 — far less than a $25 premium screening in New York or Los Angeles. But for consumers, the decision still comes down to the price of a movie compared with other outings, said Loria. Going to the movies can be cheaper and easier than attending sports events, an amusement park or a concert. At the extreme end, prices for those kinds of events can even run into the thousands. But consumers still care about the increased cost of going to theaters compared to staying at home, according to Jackie Brenneman, founding partner of cinema industry consultancy The Fithian Group. Expanding discounts could dispel the notion that paying for a movie ticket isn't worth the money and effort, but theaters' pricing is a secondary incentive, and theaters need more dynamic offerings, she added. While ticket sales are an important source of revenue, theaters also make money come from subscription programs, concessions and merchandise. Subscription models, such as allowing moviegoers to watch a set number of movies per week for a monthly cost, are one way theaters have tried combating streaming services without pricing out consistent moviegoers. At AMC, for instance, an A-List subscriber can watch four movies a week by paying $25.99 a month. Regal Cinemas, the No. 2 US movie chain, offers a similar model, Regal Unlimited, with a base plan of $21.49 each month for an unlimited movie pass and a 10% discount on concessions, among other benefits. Theaters have also hopped on a trend of unveiling pricey special edition popcorn buckets and franchise-specific merchandise. Some merchandise doesn't land well with audiences, warned Shawn Robbins, director of analytics at Fandango and founder and owner of Box Office Theory. 'But all of this, viewed as a whole, is just broadening what the moviegoing experience is to a customer when they buy a ticket,' he said. Meanwhile, Hollywood continues to churn out big-budget films that moviegoers could prefer to see in theaters rather than on a flatscreen, computer, tablet or smartphone. 'Consumers are going more often to bigger blockbusters, and they're watching them on the most premium format available. So they are actively choosing the most expensive ticket price out there,' Brenneman said. There are far fewer movie screens today than there were before the pandemic, when attendance dropped off a cliff. In 2024, there were roughly 35,481 cinema screens, a 9% decline from 2022 and a 13.8% decline from 2019, according to data provided by research firm Omdia. There have been signs of a rebound, as the overall box office has seen gain after studios have shifted from the 'streaming exclusive' mentality, says Loria. A slow first quarter due to some underperforming movies was countered by a strong second quarter and a record-breaking Memorial Day weekend for Hollywood. According to Comscore data, the box office is up 15% year-to-date versus 2024 due to the second quarter rebound. But earnings for 2025 are still down 24.1% compared with 2019. Discounted tickets are one method to capitalize on that moviegoing momentum, providing a boost for theaters like AMC and struggling malls and shopping centers where theaters have served as destination points. A study by Beacon Economics estimates that for every dollar spent on movie nights, $1.50 is added to the economy. The success of recent hits, like Universal Pictures' 'Jurassic World Rebirth' and Warner Bros. Pictures' 'Superman' could bolster upcoming releases, like Paramount Pictures' 'Smurfs' and Disney's 'Fantastic Four.' Warner Bros. Discovery is the parent company of CNN. Robbins still believes that the summer box office could gross $4 billion — the second post-pandemic year to do so, following 2023. 'There's no perfect balance, but I think (discounts) are positive steps toward that goal of being able to foster that big communal event, but still have these opportunities in the middle of the week when theaters are a little quieter,' Robbins said.
Miami Herald
12-07-2025
- Business
- Miami Herald
AMC hopes bold new offers will get customers back into theaters
AMC Theatres (AMC) has recently been ramping up its efforts to win back customers after seeing a startling change in attendance earlier this year. In AMC's first-quarter earnings report for 2025, it flagged that its total revenues fell by about 9% year-over-year, while movie theater attendance in the U.S. declined by 11%. Don't miss the move: Subscribe to TheStreet's free daily newsletter AMC also reported a net loss of $202.1 million during the quarter, an increase from the $163.5 million net loss it faced during the same quarter last year. Related: AMC makes major theater change that will frustrate customers "Setting aside those first quarters directly impacted by Covid and its aftermath, the January to March industry box office in 2025 was the lowest it has been since 1996," said AMC CEO Adam Aron in the report. AMC's average movie ticket price in the U.S. reached $12.31 during the first quarter of this year, which is higher than the $12.19 average it reported for the same quarter in 2024. As movie ticket prices rise, more consumers have been opting to watch movies at home. Amid recent challenges, AMC has been focused on making moviegoing more affordable for consumers. For example, earlier this year, it updated its flagship subscription service AMC Stubs A-List to have "increased benefits designed to ease the pain of a healthy price increase," which includes a new lower-priced subscription tier. In May, it also announced that movie ticket prices for AMC Stubs members will be 50% off on Wednesdays, a change that began on July 9. Recently, AMC revealed that it has expanded this generous discount to Tuesdays. Related: DirecTV cuts back a major service as consumers switch gears In addition, the theater chain is also now offering AMC Stubs members 50% off its small popcorn and drink combo on Tuesdays and Wednesdays. "Following the overwhelmingly positive guest response to our announcement of 50% Off Wednesdays ticket pricing, two things became clear," said Aron in a July 7 press release. "First, our Discount Tuesdays program will benefit from clear, concise messaging that resonates with value-seeking moviegoers. So, we are changing our Tuesday prices and our Tuesday consumer communications such that Tuesdays and Wednesdays will both feature the same 50% Off pricing offer." The move from AMC comes after it finalized a deal last month with cinema advertising company National CineMedia to run more commercials before movie screenings begin at its theaters. AMC said this deal will allow it to rely less on increasing movie ticket prices to boost its revenue. More media and entertainment: Disney makes major theme park announcement after startling lossComcast raises red flag about unexpected customer behaviorDisney CEO offers unexpected response to tariff concerns "For the past five years, AMC has sought out crucial revenue that is not reliant on the increase of base ticket prices," said AMC in a statement to the Times last month, adding "while AMC was initially reluctant to bring this to our theaters, our competitors have fully participated for more than five years without any direct impact to their attendance." Now, a notice on AMC's website warns customers that "movies start 25-30 minutes after showtime." Despite declines in movie theater attendance earlier this year, the box office has recently been rebounding thanks to huge releases such as "Sinners," "Lilo & Stitch," "A Minecraft Movie," "Superman," and "Jurassic World Rebirth." Related: Comcast raises red flag about unexpected customer behavior The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
