100.00%
Despite the growing concern that home-streaming services – such as Netflix and Disney Plus – would start to eat into cinema revenues, before Covid-19 hit, the market was still worth over $1.2 billion a year.
Is AMC profitable?
No, AMC lost $4.59 billion in 2020, according to the company’s full-year earnings report released in March 2021 – compared to its net loss of $149 million in 2019.
This dramatic decrease from previous years was caused by the closure of cinemas amid the COVID-19 pandemic. Attendance at AMC Theatres fell from over 356 million in 2019 to just over 75 million in 2020. The company reported annual revenues of $1.24 billion, which was down 77% from the year before.
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