LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Theatres® (NYSE:AMC) today announced that approximately two months after enhancing the benefits of its paid membership tier and adding a free tier to its rewards program, AMC Stubs, the Company has added more than 1.2 million households, hitting an all-time high of four million active member households.
Active memberships are defined as an enrollee or someone in an enrollee's family having attended a movie at an AMC theatre within the current or past calendar year.
Since the launching in July of a thoroughly re-designed program, AMC Stubs’ two tiers, AMC Insider and AMC Premiere, combined to add more than 1.2 million new active family memberships in the last few weeks of the busy summer season. Given a continuation of this pace, the AMC Stubs membership base is likely to more than double year over year by the start of the 2017 summer movie season.
The number of new AMC Stubs members continues to climb daily at a brisk pace. New members are enrolling in the new AMC Stubs program at a rate more than 11 times the number of enrollments during the same period last year.
“The new AMC Stubs has opened strong and to enthusiastic reviews from our guests,” said Adam Aron, CEO and President, AMC Theatres. “Moviegoers want to be recognized and rewarded for coming to theatres, and the response to our new and improved AMC Stubs program has far exceeded even our most optimistic expectations.”
“The expansive growth of AMC Stubs provides AMC with a much larger database of identified moviegoers, and a better insight into their movie preferences,” said Stephen Colanero, Executive Vice President and Chief Marketing Officer, AMC. “This enables AMC to have both a larger and a more focused marketing capability to support the movies of our Hollywood studio partners.”
In early July, AMC launched AMC Insider, a free tier to the rewards program that is increasing the number of AMC guests who are rewarded for simply coming to the movies. AMC Insider benefits include free refills on large popcorn, up to $2 off tickets every Tuesday, a free large popcorn birthday gift and 20 points earned for every dollar spent.
The company’s paid tier, AMC Premiere, also saw a refresh that included the addition of new guest benefits. For a $15 annual membership fee, AMC Premiere members enjoy express service with specially marked shorter lines at the box office and concession stand, free size upgrades on popcorn and soda, a free refill on large popcorn, up to $5 off movie tickets on Tuesdays, a birthday gift (free large popcorn and soda), no online ticket fees and 100 reward points for every $1 spent.
Every AMC Stubs member earns $5 to spend at the box office and concession stand for 5,000 points earned, and receives access to exclusive offers, screenings and more. For information about AMC Stubs and to sign up, guests can inquire at their local AMC theatre or at amctheatres.com/amcstubs.
About AMC Theatres
AMC (NYSE: AMC) is the guest experience leader with 386 locations and 5,334 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago) http://www.amctheatres.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “plan,” “estimate,” “will,” “would,” “project,” “maintain,” “intend,” “expect,” “anticipate,” “strategy,” “future,” “likely,” “may,” “should,” “believe,” “continue,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Similarly, statements made herein and elsewhere regarding the pending acquisitions of Odeon & UCI and Carmike Cinemas (collectively “the targets”) are also forward-looking statements, including statements regarding the anticipated closing date of the acquisitions, the source and structure of financing, management’s statements about effect of the acquisitions on AMC’s future business, operations and financial performance and AMC’s ability to successfully integrate the targets into its operations. These forward-looking statements are based on information available at the time the statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the parties’ ability to satisfy closing conditions in the anticipated time frame or at all; obtaining regulatory approval, including the risk that any approval may be on terms, or subject to conditions, that are not anticipated; obtaining the Carmike stockholders approval for the Carmike transaction; the possibility that these acquisitions do not close, including in circumstances in which AMC would be obligated to pay a termination fee or other damages or expenses; related to financing these transactions, including AMC’s ability to finance the transactions on acceptable terms and to issue equity at favorable prices; responses of activist stockholders to the transactions; AMC’s ability to realize expected benefits and synergies from the acquisitions; AMC’s effective implementation, and customer acceptance, of its marketing strategies; disruption from the proposed transactions- making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the negative effects of this announcement or the consummation of the proposed acquisitions- on the market price of AMC’s common stock; unexpected costs, charges or expenses relating to the acquisitions; unknown liabilities; litigation and/or regulatory actions related to the proposed transactions; AMC’s significant indebtedness, including the indebtedness incurred to acquire the targets; execution risks related to the integration of Starplex Cinemas into our business; our ability to achieve expected synergies and performance from our acquisition of Starplex Cinemas; AMC’s ability to utilize net operating loss carry-forwards to reduce future tax liability; increased competition in the geographic areas in which we operate and from alternative film-delivery methods and other forms of entertainment; continued effectiveness of AMC’s strategic Initiatives; the impact of shorter theatrical exclusive release windows; our ability to attract and retain senior executives and other key personnel; the impact of governmental regulation, including anti-trust investigations concerning potentially anticompetitive conduct, including film clearances and participation in certain joint ventures; unexpected delays and costs related to our optimization of our theatre circuit; failure, unavailability or security breaches of our information systems; operating a business in markets AMC is unfamiliar with; the United Kingdom’s exit from the European Union; and other business effects, including the effects of industry, market, economic, political or regulatory conditions, future exchange or interest rates, changes in tax laws, regulations, rates and policies; and risks, trends, uncertainties and other facts discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in AMC’s Annual Report on Form 10-K, filed with the SEC on March 8, 2016, and the risks, trends and uncertainties identified in their other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.
