AMC Entertainment Holdings, Inc., a media and entertainment company, announced that starting from July 8th (last Tuesday), AMC will extend the half-price discount for Stubs members to Tuesdays and Wednesdays.
Specifically, “Discount Tuesdays” has been officially renamed to “50% Off Tuesdays” and was launched on July 8th. The fifty percent off discount on Wednesdays (50% Off Wednesdays) was introduced on July 9th (last Wednesday). These discounts are applicable to adult evening regular ticket prices at AMC locations participating in the promotion for AMC Stubs members throughout the day. In addition to ticket discounts, AMC also offers half-price popcorn and drink combos for Stubs members on Tuesdays and Wednesdays.
Adam Aron, CEO of AMC Theatres, stated in a press release, “Guest responses have been very positive.”
Daniel Loria, editor-in-chief of the film magazine BoxOffice Pro, told CNN that “many theaters have seen the positive impact of weekly discount days. Seeing the nation’s top and the world’s second-largest chain of theaters establish a second discount day is very compelling,” suggesting that other theater chains may follow suit to attract customers.
In recent years, streaming services have become increasingly popular, with monthly subscriptions for streaming movies as low as $7.99, much lower than the high movie prices of $25 in cities like New York or Los Angeles. Meanwhile, the cost of watching movies, from tickets to concessions, continues to rise, impacting cinema attendance.
Despite this, Loria noted that for consumers, the key factor in their decision-making is still comparing the cost of going to the movies with the expenses of other outdoor activities. Watching a movie at the theater may be cheaper and easier than attending sports events, amusement parks, or concerts. In extreme cases, the prices of these activities could even reach thousands of dollars.
Jackie Brenneman, founding partner of cinema industry consulting company The Fithian Group, believes that expanding discount options helps dispel the notion that spending money on movie tickets might not be worth it. However, theaters still need to find more promotional methods, such as allowing audiences to watch a fixed number of movies per month for a subscription fee. This approach can compete with streaming services without alienating loyal moviegoers.
For example, AMC’s A-List subscribers only need to pay $25.99 per month to watch four movies every week.
The second-largest cinema chain in the U.S., Regal Cinemas, also offers a similar model named Regal Unlimited. The basic plan costs $21.49 per month and provides unlimited movie passes, a 10% discount, and other benefits.
Cinemas have also been experimenting with introducing pricier special edition popcorn buckets and exclusive merchandise.
Most importantly, theaters are looking forward to Hollywood continuing to produce high-budget films more suited for viewing in theaters rather than on flat screens, computers, tablets, or smartphones.
Brenneman stated, “Consumers are more willing to watch big-budget movies in theaters, preferably in the highest-quality format, and they will opt for the most expensive tickets.”
Discounted tickets leverage this movie-watching trend to support theaters like AMC and struggling malls and shopping centers (where cinemas used to be anchors). A study by Beacon Economics estimates that for every dollar spent on a movie night, it could boost the economy by $1.5.
The recent success of blockbuster movies like “Jurassic World: Dominion” from Universal Pictures and “Superman” from Warner Bros. Pictures may support upcoming releases such as “Smurfs” from Paramount Pictures and “Fantastic Four” from Disney.
(This article was referenced from CNN reporting)