Emma Seligman’s Bottoms is looking at an estimated weekend gross of $516k on ten screens with a possible leading $51,625 per-theater average for the raunchy, teenage high school girl take on Fight Club.
09.08.2023 - 00:55 / deadline.com
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes.
The world’s biggest move chain saw second-quarter earnings surge, sales jump and things looked great in movieland with the three months ended in June and the current month of July setting records on key metrics. But the numbers mask an AMC skirmish with shareholders that turned into a messy, ongoing Delaware Chancery Court case requiring a judge’s approval for the company to sell equity to raise cash.
Yes, Aron said he’s heartened at AMC’s liquidity of $643 at the end of June, but retail shareholders, who own most of the company’s stock, “are underestimating the potential for cash burn in seasonally weaker winter months, especially given the uncertainties of the actors’ and writers’ strikes, since no one knows when they will end.”
“We continue to seek the flexibility to raise fresh capital on the best possible terms…to avoid the pitfalls that sank others in our industry,” he said on a call with investors after market close, reiterating a warning from last month.
“The dumbest thing we could ever do in this industry is to run out of cash,” he added. After all, he expects a full theatrical recovery for the industry next year or the following. But “If we were to run out of cash before we get to 2024 or 2025, that would be a disaster.”
If AMC did have the cash, he ticked off a wish list including repairs to theaters, adding bars and more of the highly lucrative large-format screens, buying other exhibitors and even “transformative M&A” that could move the company beyond cinemas.
The chain will continue to bring theaters into the
Emma Seligman’s Bottoms is looking at an estimated weekend gross of $516k on ten screens with a possible leading $51,625 per-theater average for the raunchy, teenage high school girl take on Fight Club.
according to IMDB’s Box Office Mojo.The flick, which CNN said “moves, ironically, too slow to deliver as a big-screen attraction,” tells the true story of Jann Mardenborough, a teenage Gran Turismo player who became a professional race car driver. “Barbie,” which is now officially the highest-grossing movie of the year in North America, remained in second place, with $4 million in sales.She beat out “Blue Beetle,” which earned $2.6 million and landed in third place.The DC Comics film, which was in the No.
Leading exhibitor AMC Entertainment completed a 1-for-10 reverse stock split this morning, a planned move preceding Friday’s conversion of its preferred “APE” shares into common stock.
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In the midst of a weekend with National Cinema Day, in addition to several previews, Sony’s feature take of PlayStation game, Gran Turismo, is bound to take No. 1 at the box office. This despite the fact that tracking has lowered its projections on the film down to $12M from $15M.
Editor’s note: Dade Hayes and Jonathan Bing are co-authors of Open Wide: How Hollywood Box-Office Became a National Obsession. Hayes is Deadline’s Business Editor and Bing is Chief Communications Officer at Vice Media Group.
This year has been pretty wild as far as box office goes. We’ve seen massive successes, such as “The Super Mario Bros.
Despite having new fundraising options in the wake of a judge’s ruling on Friday, AMC Entertainment started the week on a jarring note as its stock price skidded to its lowest level since January 2021.
While Billie Eilish and Jesse Rutherford’s relationship was not meant to last, they have remained on amicable terms.
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according to IMDB’s Box Office Mojo.This week, it surpassed the $500 million mark, making its director Greta Gerwig the highest earning female director ever at the domestic box office, beating the record held by “Frozen II‘s” Jennifer Lee.The movie is so popular that searches for the baby name “Barbie” have increased by a staggering 603% since April, when its trailer was released.“Oppenheimer,” which was in fourth place last week, moved back up to the No. 2 spot with $5.1 million in sales.This week, the Christopher Nolan filmbecame the highest grossing ever at Hollywood’s TCL Chinese Theatre in the location’s 97-year history, according to Deadline.
CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate.
Box Office Mojo. “Barbie” has dominated the box office in the United States and Canada, making over $485.4 million as of Aug. 9.
Tory Lanez has issued a statement following his prison sentencing for shooting Megan Thee Stallion.Today (August 11), Lanez took to social media to share a statement after the rapper was sentenced to 10 years in prison for shooting Megan Thee Stallion in both feet in 2020. Lanez – real name Daystar Peterson – was sentenced earlier this week after being found guilty in December last year of three felonies related to the shooting.Peterson wrote in his statement: “I have never let a hard time intimidate me.
Zack Sharf Digital News Director Rob Lowe said on a recent episode of the “Podcrushed” podcast (via Entertainment Weekly) that exiting “The West Thing” after four seasons was “the best thing” he ever did since his run on the show was “super unhealthy.” Lowe starred as White House communications director Sam Seaborn in Aaron Sorkin’s acclaimed NBC drama. He was written out of the show in Season 4 amid rumors of behind-the-scenes salary disputes. He said on the podcast that he felt “undervalued” during his time on the series.
Top exhibitor AMC Entertainment rode the box office revival in the second quarter, beating Wall Street forecasts and returning to profitability.
D. Smith Filmmaker D. Smith’s debut documentary “Kokomo City” presents a raw depiction of the lives of four Black trans women — Daniella Carter, Koko Da Doll, Liyah Mitchell and Dominique Silver.
Naman Ramachandran Former Disney India head and producer of Sony LIV hit “Rocket Boys,” Siddharth Roy Kapur has hailed the reinvigorated Indian box office and robust streaming space. Nevertheless, he sees challenges ahead.
Patrick Frater Asia Bureau Chief “Creation of the Gods I: Kingdom of Storms,” the first part of Wuershan’s big-budget “Fengshen Trilogy,” topped the mainland China box office for the second weekend and expanded its week-on-week haul by 35%. ‘Barbie’ also showed signs of resilience in a market where it opened a week earlier in a disappointing fifth place. “Creation of the Gods I” grossed $57.6 million.