International Business Writer
AMC hopes to boost revenue in 2022 by selling its Popcorn at kiosks, food stores, and convenience stores. The Today Show noted that AMC will also offer Popcorn ordered from home or bought in “To Go” packages at theaters. The company plans to have fifteen locations by the end of 2022 and more by 2023, but it has not yet disclosed the price for any of its popcorn products.
In response to AMC’s new developments, fellow movie theater company Cinemark is not quite so certain that selling Popcorn outside the theater will make a difference financially. According to Cinemark CEO Mark Zoradi, theater companies should rely on the movies themselves to make revenue, not concession sales. CNBC quotes him saying, “Popcorn and concessions [are] a big part of that … But the movie drives [customers] back in the first place.” In addition, Zoradi feels that in-theater features, like luxury seating, will attract customers. In fact, Cinemark has installed an online service that allows food and drinks to be delivered straight to viewers’ seats in the theater. The company has already been selling its Popcorn in theaters for a couple of years, even before the onset of the pandemic. Nonetheless, Cinemark has begun testing popcorn products at mall kiosks in Brazil.
This announcement comes after a slump for movie theaters due to COVID, as many people stay home. However, things are looking up as movie revenues have increased this past October. CNBC reports that October has been the highest-grossing month this year, earning $637.9 million in tickets.
AMC’s CEO and chairman Adam Aron feels optimistic about popcorn sales, citing the move as “natural and logical.” According to Variety, the popcorn industry will reach about $6.24 billion by 2028. But, of course, only time will define the effects of selling movie theater popcorn traditionally in external locations such as mall kiosks. Still, in the end, it will be the films themselves that bring profits.
Contact Christina at email@example.com