NEW YORK, Nov. 03, 2021 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Virgin Galactic Holdings (NYSE: SPCE) , ESE Entertainment (TSX.V: ESE) (OTC: ENTEF), Organic Garage (OTC: OGGFF) (TSX.V: OG), and AMC Entertainment Holdings.
With Gen-Z and Millennials representing over a trillion dollars in buying power, their consumer choices are driving new growth opportunities in sectors as diverse as e-sports, plant-based foods, space travel – and reviving the 100 year old movie theater business. Wall Street Reporter highlights the latest comments from industry thought leaders:
AMC Entertainment Holdings (NYSE: AMC) CEO Adam Aron: “Movie Theaters – We’re Not Leaving!”
“…Thanks to rising attendance, increased ticket prices achieved both through mix changes, and actual price increases, storing food and beverage revenues per patron, a relentless focus on cost containment, and the pruning of marginal theaters from our network, our financial results in Q2 were well ahead of our own, and consensus third-party expectations. In short, AMC crushed it in Q2….”
“…There are those who were sure that our recovery in Q2 would be slower than is the current reality. Again, the Q2 numbers for AMC have proved them wrong, as well. But there are those, still, who continue to forecast the demise of the theatrical exhibition business overall or maybe they just want to predict the demise of AMC. They say that streaming is going to beat us, that’s their conventional wisdom. Well, a lot of people mock conventional wisdom because so often it’s just plain out wrong. You’ve likely heard before this mantra, maybe even repeated it yourself. Radio is going to kill off movie theaters. TV was going to kill off movie theaters. VCRs were going to kill off movie theaters. DVDs are going to kill off movie theaters. Each time movie theaters proved resilient. Americans went to a movie theatre a billion times in 2019. That’s a billion with a B. And the global box-office in 2019 was a record-high $43 billion. Yes, there was a pandemic, but now streaming is going to kill off theaters, we breathlessly hear. Well, at AMC, we intend with all of our might, and brains, and heart, and soul to prove those procrastinators and prognosticators wrong, too….”
AMC Entertainment Holdings (NYSE: AMC) Earnings Call Highlights: <…….