AMC Entertainment CEO Warns Strike Will Cause “Needless Challenges” In 2024, Urges Parties To Settle “Immediately”
deadline.comAMC Entertainment swung to a profit last quarter and saw revenue jump 45%, besting Wall Street forecasts. CEO Adam Aron found the numbers “quite satisfying.” But, he said, the short-term impacts of the writer’s and actor’s strikes will cause additional and needless challenges for AMC in 2024.
Without taking sides as to who is to blame and how the labor challenges should be resolved, we strongly encourage all the parties involved to come to the negotiating table with the intent of reaching an agreement immediately.” Exhibitors are extremely antsy as films major and minor continue to shift release dates, reluctant to open without actors to promote them.
AMC made solid progress last quarter, swing to a profit of $12.3 million in the September quarter from a loss of $227 million the year before.
Sales surged to $1.4 billion. Barbie and Oppenheimer released in late July were standouts. The results didn’t include Taylor Swift: The Eras Tour, which didn’t open until after the third quarter ended.
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