AMC Entertainment (NYSE: AMC) announced via a press release on Sunday, that “the domestic industry box office for October 2021 is estimated to come in considerably higher than that of any previous month since February of 2020”. Essentially confirming that movie/theatre business is getting back to normal.
The world’s largest theatre chain has performed well Internationally as well – breaking a similar record. “Similarly, October 2021 ticket admission revenues at AMC’s international theatre locations also were the highest of any month since the pandemic caused the shutting of theatres back in 2020.”
October saw the releases of Venom 2 and James Bond’s No time to die that performed well in the box office. These movies were released exclusively on theatres. The last duel and Dune contributed to the popular list of movies. October 2021 was the first month since March 2020, when the box office collection exceeded $100 million every single week, accumulating a monthly total of over $545 million.
With Marvel’s Eternals releasing in this week and a jam-packed December schedule, It seems AMC is going to have a well deserved quarter.