By The disappointing start to the Summer box-office was felt by the world’s biggest exhibitor AMC Theatres.
Talking about their quarterly earnings from April to June this year today, the poor performance of “The Fall Guy,” and “Furiosa: A Mad Max Saga” saw revenue for the quarter fall 23.5% to $1.03 billion during the three-month period ending in June.
That’s down from $1.35 billion in the prior-year period and a $32.8 million net loss for the company. Attendance also dropped – down to just over 50 million from 66.4 million from a year ago.
What helped save the quarter from being even worse was the solid performance of “Kingdom of the Planet of the Apes” and the late June hits of “Bad Boys: Ride or Die” and “Inside Out 2”.
In a statement, AMC chief Adam Aron says the difference between the early quarter and late quarter performance was “as if we were two totally different companies, surrounded by two completely different industry dynamics.”
This quarter is expected to be rosier with hits this month like “Deadpool & Wolverine,” “Despicable Me 4” and “Twisters” already boosting numbers while “Alien: Romulus,” “Transformers One” and “Beetlejuice Beetlejuice” seem sure bets to pull in strong box-office in August and September.
Aron says the box office long-term looks headed for a rebound with “Gladiator,” “Moana,” “Sonic” and “Joker” sequels, “The Lion King” prequel and the “Wicked” film all expected to do big business in the last calendar quarter of this year.
Source: Variety
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