AMC Theatres
AMC Theatres, one of the biggest movie theater chains in the world, has decided to enter into the food business. That's right! Soon enough, the company will start selling retail popcorn. So, if you love movie theater popcorn, ready your wallet!
AMC Theatres’ New Business
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No questions asked, while AMC Theatres has made it through the COVID-19 pandemic, the company took a severe hit over the past two years. So, now, it will try something new: retail popcorn. The company will start selling "AMC Theatres Perfectly Popcorn" in theaters and grocery stores next year, trying to create a new revenue stream. The popcorn will first premiere at lobby kiosks in 15 select theaters across the county, before expanding to all AMC locations by the start of 2023. Meanwhile, in the second half of 2022, AMC will also start selling a microwaveable version of its popcorn in supermarkets and convenience stores.
If you're a lover of fresh popcorn, have no fear. As always, AMC will continue to serve up fresh popcorn in its theater. However, now you will have the chance to pick some up for a movie night at home! Will the new retail popcorn business work out for AMC? Only time will tell. But, according to recent interviews, the AMC team seems incredibly excited about the new business venture...
A Logical Popcorn Move
AMC Theatres
For those who do not know, the popcorn market has seriously grown over the past few years. In fact, it will be worth $6.24 billion by 2028, according to a report conducted by Million Insights. That makes it one of the largest food markets in the world! "The announcement that AMC will become a competitor in the multi-billion popcorn market is so natural and logical, one wonders why the idea has not been tried before," Adam Aron, the CEO of AMC Theatres, said in a statement. "Needless to say, AMC knows popcorn ever so well. On our busiest days, AMC Theatres currently pops in the range of 50 tons of popcorn per day. But the popularity of popcorn extends well beyond the doors of our movie theaters. With this new AMC initiative, we expect to reach entirely new segments of the U.S. population with our popular AMC Theatres Perfectly Popcorn."
In Aron's eyes, creating a retail popcorn brand is simply a "natural extension of AMC's core business," In fact, not only is it a natural extension," though, but, as stated, it's also a way to create a new stream of revenue. The best part of all for AMC? It's a constant reminder of the brand's main business. Even if film lovers elect to stay home one weekend and catch a movie on Netflix, AMC can still help provide a great movie night.
Now there's only one thing left for AMC to do: make a tremendous microwaveable popcorn. That's no easy task, though! So, we'll need to wait and see just how it tastes...
Sources: MSN, Yahoo! Entertainment
