AMC has announced that it will accept bitcoin payments for tickets and concessions by the end of the year.
AMC Theatres has reached a formal agreement with Warner Bros. to show the studio’s 2022 slate on the big screen for an exclusive 45-day window.
AMC struck a similar contract with Comcast-owned Universal
In the company’s quarterly earnings call, AMC announced that by the end of the year, it will accept bitcoin payments for tickets and concessions. The company is also building the technology to accept Apple Pay and Google Pay by 2022.
Adam Aron, CEO of AMC Theater, said: “We’re especially pleased that Warners has decided to move away from day-and-date releases and commit to theatrical windows as well. We’re having conversations with other movie studios in Hollywood.”
Aron said that studios’ experimenting with the theatrical window was as a result of the pandemic, added: “We’re seeing the consensus that exclusive theatrical window is a good way to build major motion picture franchises.”
He also revealed that the circuit will take over additional locations that were previously part of the Pacific Theaters/ArcLight chain. AMC has already signed deals to manage the leases for the cinemas at The Grove in Los Angeles and The Americana at Brand in Glendale (both were Pacific locations).
This past weekend, Warner Bros’ critically acclaimed James Gunn DC movie The Suicide Squad tanked at the domestic box office with $26.5m, under its $30m-plus projection. There’s also some concern by a few that the booming Delta variant can be easily blamed.
Despite opening some day-and-date movies to $20m-$30m+, Warner Bros’ theatrical titles that were also available on HBO Max suffered sharp second-weekend declines at the box office. Most recently, Space Jam: A New Legacy plummeted 69%.