In 14 weeks since its launch, AMC Stubs A-List, the theater chain’s monthly movie-ticket subscription service, has flown past 400,000 subscribers, achieving 80% of the exhibitor’s one-year membership goal and 40% of its two-year goal.
Beamed AMC CEO and president Adam Aron: “While we do not plan to issue A-List enrollment statistics on a weekly basis, our hitting more than 400,000 enrolled members only three months and a week after launching the program is an enormous milestone. Those who have been following our progress with A-List are aware that we had originally expected 500K enrollments at the one-year mark and 1M enrollments at the two-year mark. Above our wildest hopes, in just 14 weeks, we have achieved 80% of our one-year goal and 40% of our two-year goal. This all bodes well for the future of increased moviegoing in America.”
For $19.95 a month, an AMC Stubs A-List subscriber gets three movie tickets a week (use it or lose it) and can buy tickets at last minute or weeks in advance in any format, i.e., Imax, Dolby, PLF. For any cinephile, this eases the headaches they may have experienced with MoviePass’ $9.95-a-month service which had blocked-out showtimes, failed to cover Hollywood tentpoles during its financial crisis this summer and added sudden surcharges along the way to its monthly subscription fee so the service could stay afloat.
Given that AMC, the largest theater chain in the world, has its finger on the pulse of moviegoing, it feasibly can determine the proper monthly market price for unlimited moviegoing. It’s a business plan that won’t burn the house down, which has been the case with MoviePass, whose parent company Helios & Matheson saw its stock tumble to 23 cents a share midday since taking a stake in the monthly movie ticket service.
On October 18, HMNY is expected to ask its stockholders for 1-500 reverse stock split, following its unsuccessful 1-250 stock split.
Also at midday, AMC Entertainment Holdings stock was up a fraction to $20.15.
Earlier this year, AMC Theatres became the first exhibitor to open a movie theater in Saudi Arabia. AMC opened the first Riyadh venue April 18. Kansas City theater circuit The Leawood plans to open 30-40 cinemas in about 15 cities in Saudi Arabia over the next five years, and a total of 50-100 cinemas in about 25 Saudi Arabian cities by 2030.