In the third quarter, the company’s cinemas began reopening after a five-month stop due to the COVID-19 pandemic. However, occupancy rates in both the United States and Europe remain extremely low, ranging between 20% and 40%.
The situation was aggravated by the postponement of many high-profile film premieres to 2021, which makes it more difficult to attract viewers back to cinemas. As a result, the company’s revenue in the third quarter amounted to only $ 119.5 million against $ 1.3 billion a year earlier (-91%).
In general, since the beginning of the year, AMC Entertainment has already suffered losses of $ 3.64 billion.
Earlier, the second largest network in the world, Cineworld, was forced to announce the closure of all its cinemas in the US and UK.
source: reuters.com
