The CEO of movie theater chain AMC has a message for people who think the traditional way of seeing movies in a cinema is over and done with: "Choke on that."
Adam Aron is known for being outspoken, and he certainly lived up to that in announcing AMC's weekend box office results, which surged due to Venom: Let There Be Carnage domestically and No Time To Die internationally.
About 3.9 million people visited an AMC theater this past weekend worldwide, and Venom and James Bond helped AMC have its highest-grossing single weekend since the pandemic began in 2020. "You know my thoughts on 'sages' predicting demise of cinemas: Choke on that, baby," he said in a fiery tweet.
New press release from @AMCTheatres. Venom & Bond let us set records for our highest grossing weekend since the pandemic hit in 2020. Some 3.9 million visited our theatres globally. You know my thoughts on “sages” predicting demise of cinemas: Choke on that, baby, #CHOKEonTHAT pic.twitter.com/MuolpwCUYp
— Adam Aron (@CEOAdam) October 4, 2021
Aron is fired up because the theatrical market is rebounding. In a press release, AMC said it not only set new post-reopening records for attendance and ticket revenue, but also on higher-margin offerings like food and drinks.
Venom: Let There Be Carnage made $90 million at theaters across North America, though Aron did not say how much revenue came from AMC theaters specifically. No Time To Die, meanwhile, brought in more than $100 million globally ahead of its US debut on October 8.
"The success of these two new blockbuster movies, and of our theatres both at home and abroad, demonstrates the huge pent-up demand we see in moviegoers who are ever so eager to return to movie theatres," Aron said. "To the self-proclaimed sages who routinely and mindlessly predict the demise of cinemas, it is my view that it is simply wrong to underestimate the enormous consumer appeal and resilience of movie theatres."
There are plenty more big movies coming out this year, including Eternals, Ghostbusters: Afterlife, Dune, West Side Story, and Spider-Man: No Way Home.
AMC, like GameStop, was one of the "meme stocks" that saw its share price surge earlier this year as Reddit investors made the most of the short squeeze situation.