AMC Entertainment is back in the driver’s seat. The movie chain, which has capitalized on its momentum as a memes stock phenomenon, recently took some bold steps.
First, AMC distributes over $ 25 million in a advertising campaign with Nicole Kidman. Then AMC CEO Adam Aron got his hands on a possible partnership with another stock of GameStop memes. on Fox Business, although he kept the details close to the vest. He suggested that there might be some sort of marketing effort between the two companies if the talks are successful.
AMC shares rose more than 2% on Thursday and are approaching the $ 50 threshold.
$ 25 million advertising campaign
AMC is betting $ 25 million that Americans have been vaccinated against COVID and are experiencing cabin fever. The new ad campaign uses the slogan We make movies better. The one-minute ad puts Kidman in the theaters as AMC seeks to connect with consumers on an emotional level. The announcement will launch at the MTV Awards this weekend.
Meanwhile, the movie chain is grappling with billions of dollars in debt on its balance sheet. But they also have $ 2 billion in cash and cash flow at the end of the second quarter. In the end, the bet was worth the candle for Aron and the AMC team.
The company is looking to lure consumers into its theaters with an enticing pipeline of films slated for Q4. In doing so, AMC has the opportunity to potentially increase its revenue and profits. As a result, Aron believes the return on investment from the ad campaign will be worth it, according to his interview with Fox Business.
Aron has said he is determined to restore the health of this business and get through the latest wave of the pandemic. He wants to give AMC back to its former glory. He explained how the shareholder base of AMCs has grown from being owned primarily by institutions to private investors. Individual investors have pushed up the stock by 2,300% this year, although AMC stocks are at their highest.
AMC just released a record-breaking Labor Day weekend in which over 2 million moviegoers visited its American cinemas.
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