As AMC seeks to add more theaters to its portfolio, insiders warn the industry already has too many screens. sarahwhit10 has more.
, but former Regal Entertainment CFO David Ownby told Jefferies there are too many screens in North America.
As AMC moves to add more theaters, it's searching for high-performing locations that were abandoned during the pandemic, it may also need to shed some of its underperforming cinemas. His thesis matches others in the industry who have noticed a decline in moviegoing even before the pandemic. These analysts foresee that trend continuing.
In the last decade, movie theaters have increasingly retrofitted their locations with recliner seats in an effort to make the moviegoing experience more appealing to audiences. With these improvements, cinema owners are also able to charge more per ticket. While some box office analysts see a long-term payoff for this strategy, others feel AMC should make debt repayment a top priority.
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