AMC Theatres gets into streaming wars
AMC Entertainment CEO Adam Aron on the company's subscription service and the state of the movie theater industry.
AMC Theatres opened a new front in the streaming wars.
The movie theater giant will now allow its AMC Stubs members to buy or rent around 2,000 films on its website, as well as its mobile and smart TV apps through its Theatres On Demand service.
The move comes as theaters continue to battle streaming services like Netflix, Disney+ and Apple TV Plus for eyeballs.
The move "makes perfect sense for AMC Theatres, for our studio partners and for our millions of movie-loving guests," Adam Aron, CEO and president of AMC Theatres, said in a statement.
"With our web site and smartphone apps already being visited hundreds of millions of times annually by movie fans, AMC Theatres is in a unique position to promote specific movies with greater personalization than has ever been possible before," Aron continued. "Through the launch of AMC Theatres On Demand, we can reach movie lovers directly and make it easy for them to access films digitally."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 4.35 | -0.16 | -3.55% |
AMC says it has Stubs members in 20 million households. The company has agreements with every major Hollywood studio for making films available to rent or buy, it said.
AMC Stubs has a free tier, a $15 per year tier, and a $23.95 per three months tier, each with varying benefits. While other streaming services give subscribers unlimited access for a monthly fee, AMC customers will purchase or rent on a case-by-case basis.
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Disney+ is launching its service Nov. 12, while companies like Comcast and TiVo are playing catchup with other streaming services.