AMC will now rent you a private theater for as little as $99, as it struggles to stay afloat amid the pandemic
- AMC Entertainment, the largest theater chain in the US, will now allow people to rent out its theaters for as little as $99.
- The Private Theatre Rentals program will be available across all of AMC's roughly 600 US locations.
- Customers can watch new releases on the big screen for $149 to $349, and the fee includes admission for up to 20 guests.
- The move comes as the entire movie theater industry — AMC included — has been pummeled by the pandemic.
AMC Entertainment, battered by the pandemic and struggling to bring in much meaningful revenue, announced Tuesday that it will allow individuals to rent out its theaters for as little as $99.
The Private Theatre Rentals program's official launch follows four weeks of beta testing, during which AMC received more than 110,000 inquiries. According to AMC, that's more than quadruple the 26,000 private theater rentals it booked in all of 2019.
Customers can now book a screen at any one of AMC's roughly 600 theaters across the country, and can bring as many as 20 people to the showing. Prices vary depending on the location and the movie guests want to watch.
For the $99 base price, patrons can choose from a "wide array of popular movies," AMC said. Customers can also screen new releases like "Freaky," "Tenet," and "The War with Grandpa," but that bumps the cost up to between $149 and $349, plus tax.
As with its normal showings, AMC won't allow any outside food or drink into its theaters. Additionally, AMC noted that all locations strictly enforce the company's COVID-19 policies, which include mandatory mask wearing and social distancing. In some places, the number of guests allowed in each theater may be lower than 20 to abide by local regulations.
The new program comes as AMC, the largest theater chain in the US, has been hit hard by the pandemic and the resulting drop in moviegoers. Citing a lack of new movie releases and the ongoing closure of key markets like California and New York, AMC warned in October that it could run out of cash before the end of the year.
The company recently reported a $901.2 million pre-tax third-quarter loss on revenues of $119.5 million, a staggering 90.9% drop in revenue from the same period in 2019. During that three-month stretch, US ticket sales were down 97%.