We reported yesterday about the impressive interest in Godzilla vs. Kong we were tracking via AMC theater sell outs and online interest. Now, AMC Theatre CEO Adam Aron tells CNBC’s Jim Cramer that their “attendance last night was about 10 times what is has been all the other Wednesdays so far in 2021”.
While even some movie reviewers screen the film in their living rooms, there is clear interest among Americans in returning to the theater experience for the right film. Movie pundit and former AMC Movie Talk host John Campea did attend the film in a theater and “wanted to stand and cheer” at the conclusion. Furthermore, audiences agree as the monster film pulls an “A” CinemaScore grade.
The monster film made an estimated $9.6 million on Wednesday, March 31 from 2,409 theater locations. This easily made it the biggest opening of the pandemic era. And the movie is on its way to the biggest opening frame since COVID-19 shut theaters a year ago.
Aron told Cramer that vaccinations and new movie releases are key for AMC. The company has held on by raising $2.8 billion and got another billion in concessions from lenders and theater landlords. As vaccinations open to a wider audience of Americans age 16+, AMC can start to reap the rewards of their planning. A healthy Summer 2021 release schedule will also be critical.
The CEO also said they could engage in mergers or acquisitions using their stock as currency.
Godzilla vs. Kong continues to sell out auditoriums tonight and Friday evening. For example, all evening showings at one of California’s newest theaters, AMC Porter Ranch 9, have sold out. One matinee at 2:30pm has seating.
