+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

'Barbenheimer' helps meme-stock darling AMC post the best single-week admissions revenue in the theatre chain's 103-year history

Aug 2, 2023, 16:26 IST
Business Insider
Ladies and gentlemen, Barbenheimer.Warner Bros./Universal
  • The "Barbenheimer" phenomenon has breathed new life into meme-stock darling AMC Theatres.
  • The movie chain just reported record single-week admissions revenue, thanks to the simultaneous releases of the blockbuster films Barbie and Oppenheimer.
Advertisement

The so-called "Barbeinheimer" phenomenon has proved a shot in the arm for the movie industry that's been struggling since the US lifted most COVID lockdown restrictions.

AMC Theatres for one has come out on top as packs of movie-goers rushed to catch the highly anticipated films, "Barbie" and "Oppenheimer," released on July 21.

The theatre-chain announced its "best week ever" between July 21 and July 27, with "Barbenheimer" helping the company post the highest single-week admissions revenue in its 103-year history, per Boxoffice Pro.

"The monumental success of Barbie and Oppenheimer has the entire movie and movie theater industry abuzz, with discussions of new records and new benchmarks being realized seemingly wherever you turn," AMC CEO Adam Aron said in a press release.

"Achieving the most admissions revenue in a single week in AMC's storied 103-year history is a testament to the moviegoing audience, who has demonstrated once again that they are ready, willing, and eager to come out to movie theaters in huge numbers," he added.

Advertisement

The two films, starring Hollywood stars Margot Robbie and Cillian Murphy, have already raked in hundreds of millions in just two weeks. While "Oppenheimer" has grossed about $400 million globally, "Barbie" is already edging toward earning $1 billion at the global box office, Boxoffice Pro reported.

The success of "Barbeinheimer" has also breathed some life into meme stocks, with investor favorite AMC surging 12.95% in July.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article