‘Avengers: Endgame’ fans spent nearly $30M in AMC theaters’ snacks, drinks in 2 days
“Avengers: Endgame” not only set box office records in its opening weekend, but also food and drink sales at AMC Entertainment theaters.
Fans spent more than $13 million in popcorn, soda and other snacks on the Marvels film's opening day on April 26 and another $15 million the next day, a Saturday, breaking the theater company's record for food and beverage sales, CEO Adam Aron said in AMC’s first-quarter earnings call.
“We can certainly say that 'Avengers: Endgame' sure worked for AMC. In the United States alone, we wound up playing the movie 63,000 times in just the opening four weekend days,” Aron said on the call. “That's a full one-third more than at AMC for the previous biggest opening film.”
Aron said AMC’s year started off slowly due to the lack of blockbuster films until the release of the superhero movie, which has earned nearly $2.5 billion worldwide since its release in April. AMC first-quarter total revenues were $1.2 billion, a decline of 11.2 percent on a constant currency basis, the earnings report stated. The company also suffered a net loss of $130.2 million.
Aron, however, said he believes sales from “Avengers: Endgame” will help make up for the first-quarter losses and with the upcoming movie releases, including “Aladdin” and “Spiderman; Far From Home,” the theater company may exceed last year’s earnings.
"Avengers: Endgame" fans spent nearly $30 million in food and beverage at AMC theaters in the first two days the movie was released. (AP)
“When revenues are stronger, profits follow suit. 'Avengers: Endgame' is a great example of how operating leverage works in good times to AMC's benefit. And we have many more big movies coming in 2019,” Aron said in the call.
The superhero’s movie grossed $723.5 million domestically, surpassing the totals for “Black Panther” and “Avengers: Infinity War.” Its global sales currently land just behind “Avatar,” which holds the record for the biggest worldwide release of all time at $2.8 billion.
The Associated Press contributed to this report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 3.34 | -0.06 | -1.62% |
