AMC Theatres is planning on reopening all of its theaters worldwide by the end of July after being shuttered for months due to the coronavirus (COVID-19) pandemic.
The announcement came from AMC Entertainment CEO Adam Aron. The theater chain is planning to be operational in the United States and the United Kingdom in time for Warner Bros.' Tenet, which is set to premiere on July 17, and Disney's Mulan, which is planning to debut on July 24. The rest of its theaters will be open by the end of the month. So far it has already reopened 10 theatres in Norway, Germany, Spain and Portugal.
AMC has not announced any specific health and safety guidelines, but is in close contact with local, national and international governments to come up with the proper guidelines and timelines. Current and former faculty from the Harvard University School of Public Health are also advising on personal protection equipment (PPE), cleaning protocols, limited theater capacity, blocked seating and other strategies. High-tech solutions are also being considered, including electrostatic sprayers, HEPA vacuums and upgraded MERV 13 air ventilation filters.
Finally, the company plans to put on an aggressive marketing campaign to increase consumer demand and educate guests on proper protocols.
Aron also clarified the company's financial situation. AMC Entertainment lost a total of $2.18 billion over the first quarter, with revenue dropping 22 percent to $941 million from $1.2 billion over the three month period. The loss was lower than the initial $2.4 billion prediction it disclosed to in a filing to the SEC last week.
Despite the financial losses, Aron pointed to a strong January and February for the company. " AMC's 2020 fiscal year started strongly with total revenues up nearly 10 percent compared to the prior year through February," he said in a statement. "However, as theaters in Italy and across Europe began closing in late February and social distancing practices were initiated in the U.S. in response to the ensuing COVID-19 global pandemic, attendance and revenues began to deteriorate in early March."
AMC Theatres closed all its locations throughout February and March, leading the company to ask the government for financial aid. While governments across the country have given theater companies the green light to reopen, AMC said it will not open its doors again until studio releases start up again.
(Via Deadline.)