AMC Theaters will now have limited seating capacity

[The Deadman]

I got this in my email this morning:

To our valued A-List members, AMC Stubs members, and guests,
If you are like me, your email inbox has been flooded by communications from companies detailing their responses to the coronavirus. Before I share with you what we are doing at AMC Theatres, I want to take a moment to share with you an optimistic thought.

The challenge that this outbreak represents to you, and to your family, friends and community is likely not similar to anything you have seen before. All of us currently find ourselves having to process our way through uncertainty, understandable anxiety and heightened risk. At some point though, hopefully sooner rather than later, the world will return to normal. Throughout history, people have always risen to meet whatever challenges have been thrown their way — usually emerging stronger than ever.

What is most important now is that you stay safe and healthy. To that end, here is what AMC is doing to help ensure the safety and health of our moviegoers and theatre teams.

Earlier today, AMC announced our detailed plan to ensure a clean and healthy movie-watching environment for you at our U.S. theatres. Most importantly, we have taken bold nationwide action to encourage “social distancing.”


LIMITING SEAT CAPACITY IN EVERY AMC AUDITORIUM
• To give you more empty space around you within our theatres, we are capping ticket availability to 50% of the normal seating capacity for every showtime in every auditorium at all AMC theatres nationwide. Once we hit 50% of an auditorium’s capacity, movie screenings will show as being Sold Out, even though by definition there will be a large number of unfilled seats. This will begin Saturday, March 14, and for now, will continue until April 30.

• For those AMC auditoriums with more than 500 seats, we will further reduce bookings to a maximum of 250 people in any case.

• And, it goes without saying that AMC is actively complying with all current and future federal, state and local authorities’ directives on social gathering.

ENHANCED THEATRE CLEANING
• AMC theatre teams are following AMC’s stringent health and safety cleaning protocols, which include that every auditorium is thoroughly cleaned between each and every showtime.

• In addition, AMC has instituted enhanced cleaning protocols, which ensure that at least once per hour within an AMC building, the theatre team is cleaning high-touch point areas, including: kiosks, counter tops, restroom areas, glass, handrails and doorknobs.


GUIDANCE FOR GUESTS AND THEATRE STAFF
• AMC has mandated that any theatre associate who feels ill is excused from work and should not come to the theatre.

• We urge all potential guests to stay at home and seek medical assistance if they are not feeling well.

As you may know, AMC Theatres was founded in 1920. For more than 100 years, we’ve taken great pride in making smiles happen every day at our movie theatres around the country. As we enter our second century, AMC remains firmly committed to offering you, as one of our most valued guests, a clean and healthy environment every time you come to enjoy movies at our theatres.

Adam Aron – Signature

Adam Aron
CEO and President
AMC Theatres

[The Deadman]

So that means if there's something you REALLY wanna see, you have to get tickets as soon as they become available.....OR...go the one route and watch it for "free" if you dont want to go near people.

[TigerClaw]

I always go to the movies in the afternoon on a weekend. And the rooms aren't even at 50% capacity.

[ranger_scout]

I'm very concerned about their future. My best friends live 35 to 45 minutes away from me. Movie theaters are far more convenient for us to meet at. We don't want to drive several minutes over to one of our houses just so we can watch a movie that is streaming.

The world’s largest theater chain may face a cash crunch, forcing it to sell assets or raise dilutive financing as the exhibition business is in an uphill battle against the spreading coronavirus

The theater industry was already facing a tough 2020 before Covid-19 hit, noted analyst Alan Gould of Loop Capital. AMC Entertainment’s recently sinking stock reflected fears that came to a head this weekend. The box office plunged, big cities like New York and Los Angeles ordered theaters closed. The chain said Monday that for theaters still open it would be adopting CDC recommendations to limit auditoriums to 50 people.


AMC ended 2019 with $265 million of unrestricted cash and $332 million of undrawn credit, Gould said – so about $600 million in cash. But he’s projecting a negative $285 million of free cash flow in the first half and said a sustained virus “could lead to some liquidity issues.”

The box office was down more than 60% year-on-year this weekend, its worst showing in over two decades. While the situation is fluid, Gould said, he lowered his industry box office estimates to -23% in the first quarter and -60% in the second quarter – down from prior estimates of -8% and -13%, respectively. “We assume the numbers get worse for the next six weeks as titles have been pulled and the box office starts easing back toward the end of the second quarter. Damage could be worse if the virus extends into June, theaters are closed, or if more big titles like Disney’s Black Widow, currently scheduled for May 1, and Warner’s Wonder Woman 1984, currently scheduled for June 5, are also delayed,” the longtime entertainment analyst said in a note to investors.

The full-year box office could fall below $9 billion, the lowest-level box office revenue since 2001, with less than 1 billion admissions for the first time in 44 years, he said.

We have made a number of assumptions on the degree of variable costs and are not sure how quickly AMC can turn off its capital expenditure commitments. For AMC we are now assuming 2020 declines of 16% in attendance, 16% in revenue, 25% in adjusted EBITDA and an almost doubling of net losses

AMC ended 2019 with $5 billion of debt, which is not insignificant. However, there are no major debt maturities until 2024, Gould said. We are not concerned with AMC breaking covenants – but about liquidity. Liquidity could become an issue if theaters have to close, more big films are delayed, or the impact of the virus extends through the entirety of the second quarter, or longer
A-List, AMC’s monthly subscription plan, could provide some recurring revenue, but he said he expects increased churn as more big title releases are being pulled from the first-half film schedule. “We assume AMC would have to reimburse its A-List members for any period of time that their local AMC theaters are closed if that occurs.”

He said he’s not assuming an overall change in consumer behavior, which means that 2021 would return to be a normalized year. The release schedule looks strong and with some 2020 films delayed to next year, could be even stronger.

https://deadline.com/2020/03/amc-ent...le-1202884288/

[oldmanwinters]

They're all gonna shut down, either by owner decision, government mandate, or the fact that movie studios will delay release of all their big films.

[CyberCubed]

I hope all theaters shut down and movies are released directly digital from now on.

[ZariusTwo]

Originally Posted by oldmanwinters

They're all gonna shut down, either by owner decision, government mandate, or the fact that movie studios will delay release of all their big films.

Universal confirmed they're releasing their current cinema titles on to digital platforms by the end of the week, Trolls 2 will now premiere on-demand

[oldmanwinters]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

Originally Posted by ZariusTwo

Universal confirmed they're releasing their current cinema titles on to digital platforms by the end of the week, Trolls 2 will now premiere on-demand

I'm surprised this wasn't already more of a thing by 2020. I figured all the buzz over "The Interview" back in 2014 would have persuaded more studios to take chances on small-budget films with digital premieres.

[Leo656]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

You are absolutely the Jackest of Ass.

[newfan]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

That would be awful, I like going out to the movies.

[LeotheLateBloomer]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

I'll just ignore you as usual.

But yeah, it's happening with my movie theater too. We're closed until the 31st. We're still getting paid time off, so I'm good til then. But still it's pretty crazy. Before then, we set up actual sanitizer stands for guests entering the theater and in front of the auditoriums. We were even required to wear gloves and tasked to sanitize all the door knobs and railings in every one of them.

[Coola Yagami]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

Just cause you hardly leave the house that doesn't mean the majority don't like to go out to the movies.

[The Deadman]

Originally Posted by CyberCubed

I hope all theaters shut down and movies are released directly digital from now on.

You wouldnt watch anything that came out on release day digitally anyway.

[CyberCubed]

I much prefer watching movies from the comfort of my home (not to mention being able to pause the movie if I have to go to the bathroom instead of missing scenes in the theater) and the overpriced popcorn and snacks these days in theaters don’t help. I only see roughly 3 movies a year in theaters anyway and it’s usually only the biggest movies I want to see right away. Everything else comes out either on streaming or disc only 3 months later. For example Star Wars came out Dec 25th and now it’s out streaming on March 17th, which is less than 3 months. And if a movie that big comes out so fast so is everything else.

[MsMarvelDuckie]

Cybercubed has been practicing for Coronavirus his whole life.....

[Egon1982]

Originally Posted by CyberCubed

I much prefer watching movies from the comfort of my home (not to mention being able to pause the movie if I have to go to the bathroom instead of missing scenes in the theater) and the overpriced popcorn and snacks these days in theaters don’t help. I only see roughly 3 movies a year in theaters anyway and it’s usually only the biggest movies I want to see right away. Everything else comes out either on streaming or disc only 3 months later. For example Star Wars came out Dec 25th and now it’s out streaming on March 17th, which is less than 3 months. And if a movie that big comes out so fast so is everything else.

Still nothing can beat the theatrical experience and feels social.