It's Possible to Release Movies in New Ways Without Hurting AMC: CEO
There are ways other “than the hide-bound traditional way to release movies that could be done in a way that was beneficial for our studio partners and for AMC,” said CEO Adam Aron. On AT&T-owned Warner's release of titles to…
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its company's streaming service, HBO Max, Aron said his theater company “put out a very clear statement that we were not willing to let Warner Bros. advantage its streaming service at AMC shareholders' expense." He noted AMC made a “landmark agreement” with Universal in April. The pact assures that “any changes in [Warner's] their strategy are being done in ways where AMC shareholders benefit as opposed to being penalized,” the CEO told a Q4 call Wednesday. The theater chain is “willing to engage with every major studio on the same topic,” he said, hoping studios can “adjust the business relationships" with AMC "such that they can support their streaming services and their theatrical releases -- and do so not at our expense.” Warner didn't comment Thursday. Some 40 major movie titles delayed from 2020 releases will hit AMC screens beginning in May, said Aron. “We are LaGuardia Airport, closed by a thunderstorm, with tons of planes circling overhead, all waiting to land and all needing to land,” he said, paraphrasing a metaphor he said studio executives shared.