Brent Lang Los Angeles New York county York film Covid-19 reports 2020 The End Brent Lang Los Angeles New York county York

AMC Theatres Could Run Out of Cash by the End of 2020, Early 2021

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variety.com

Brent Lang Executive Editor of Film and MediaAMC Theatres is in danger of running out of cash by the end of the year or by early 2021 if moviegoers don’t return to cinemas in greater numbers, the world’s largest exhibitor warned in public filings on Tuesday.The theater chain noted that attendance at the 494 of its 598 U.S.

locations that it has opened in recent weeks is down approximately 85%. Cinemas in major markets such as Los Angeles and New York City are still closed due to COVID-19, and attendance in reopened states is limited due to social distancing restrictions.

The theater business is also suffering from a lack of compelling blockbusters to screen, with movies such as “No Time to Die” and “Soul” getting delayed or moved to.

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