it’s Showtime! AMC Theaters says 98% of its US movie theaters will remain open Friday as a group of theaters reopen in California. More theaters are expected to open a year later by March 26 when families stayed home and watched from their couches.
AMC said more than 40 of its locations in California are reopening starting Friday. California is expected to open 52 of its 54 locations by Monday. The Leewood, Kansas-based company is preparing to resume operations at its rest of California after receiving appropriate local approvals. AMC previously opened over 500 of its theaters across the country.
A year ago all theaters closed their doors as the coronavirus pandemic caused havoc across the world. While some movie theaters have opened in the past few months with limited capacity and heightened safety protocols, the announcement by AMC – the nation’s largest movie chain – to open nearly all of its US theaters by the end of the month means more people have There will be more venues to choose from if they want to watch the film on the big screen.
AMC’s announcement is welcomed by movie fans, not only because more of them will get a chance to return to AMC’s reclined seats and stadium-style format, but it also means that the company has hopefully put the worst behind it. is. It was only in June that AMC warned that it could not survive the coronavirus pandemic, as its theaters closed and film studios began releasing more movies directly to audiences on streaming services.
Plan Your Vaccines: How and Where to Get Vaccinated.
But AMC has gradually opened its theaters in the states over the past several months and allowed it to carry on with its business. One of its out-of-the-box moves involved renting theaters for private movie screenings to a limited number of people.
b. Riley Securities analyst Eric Wold said in a recent client note that he “continues to see an appearance in 2022 on an impressive, blockbuster-fueled film slate and an attractive setup for a box office rebound.” He raised the company’s price target from $5.50 to $7.
Shares of AMC Entertainment Holdings Inc. rose more than 3% to $14.03 in afternoon trading on Thursday. The stock has gained over 500 per cent so far this year.
Opening more theaters will also mean more jobs for people. AMC spokesman Ryan Noonan says the company is welcoming the employees who worked for the theater before it closed, as well as bringing in new employees. All will be trained on its cleaning and safety protocols, including social distancing and automatic seat blocking in each theater, mandatory mask wearing, hand sanitizing stations, advanced air filtration, contactless ticketing and mobile ordering of food and drink.
AMC’s theater reopening is part of the entertainment industry’s gradual road to recovery as states begin easing restrictions and more people receive vaccinations. Earlier this month, movies reopened in New York City, a top market for both blockbusters and short films looking to get a good word of mouth. And last week California announced that Disneyland would be able to open next month and new public health rules would allow live concerts in stadiums and playgrounds to reopen with limited attendance on April 1.
The industry’s reopening was reflected in key economic data: The latest report from the Bureau of Labor Statistics said that in February, most job gains were in the leisure and hospitality industries. Employment in those sectors increased by 355,000.
California COVID-19 Vaccination
The map tracks the number of doses administered by the recipient’s place of residence, according to the California Department of Public Health.