AMC Sets New Memorial Day Weekend Records Thanks to ‘Lilo & Stitch’ and ‘Mission: Impossible’
AMC Entertainment Holdings Inc. (NYSE: AMC) has announced a historic Memorial Day weekend, reporting its highest-ever ticket and concession revenues for the holiday period. The surge was driven by the blockbuster releases of Disney’s live-action Lilo & Stitch and Paramount’s Mission: Impossible — The Final Reckoning, which attracted record-breaking crowds to AMC theaters across the United States.
Unprecedented Box Office Performance
Between Thursday and Monday, AMC theaters experienced their busiest Memorial Day weekend since 2013. According to Comscore, total ticket sales across all U.S. movie theaters reached $326.7 million, surpassing the previous record of $314.3 million set in 2013. AMC’s own revenue from tickets and concessions hit all-time highs, reflecting a renewed appetite for theatrical moviegoing after several challenging years for the industry.
Blockbusters Lead the Way
The live-action adaptation of Lilo & Stitch was the standout performer, generating an impressive $183 million in domestic ticket sales over the four-day weekend. The film’s heartwarming story of a Hawaiian family and their adopted alien resonated with audiences of all ages, propelling Disney’s stock up nearly 2% on the following Tuesday (NASDAQ: DIS).
Paramount’s Mission: Impossible — The Final Reckoning also contributed significantly, earning $77.5 million in ticket sales. This latest installment in the long-running action franchise helped boost Paramount Global’s shares by nearly 1% (NASDAQ: PARA).
Investor Reaction and Industry Impact
Following the announcement, AMC shares jumped 9% in early trading, although the stock remains down approximately 11% year-to-date. The strong weekend performance has reinvigorated investor confidence in the cinema chain and the broader theatrical industry, which has faced significant headwinds in recent years due to the pandemic and the rise of streaming platforms.
“Finally, it would appear our industry has turned a corner,” AMC CEO Adam Aron stated in a press release. “Moviegoers are demonstrating their enthusiasm for theatricalgoing. We firmly expect this to be a robust box office year as we look ahead.”
Industry analysts note that the Memorial Day surge signals a potential return to pre-pandemic attendance levels, especially when supported by high-profile releases and strong studio marketing. According to the Motion Picture Association, box office revenues in 2024 have shown steady recovery, with consumer demand for in-person entertainment experiences rebounding.
Looking Ahead: Can Theatrical Momentum Continue?
While this record-setting weekend is a positive sign, industry experts caution that sustained growth will depend on the continued release of compelling content. Upcoming summer blockbusters and family-friendly films are expected to keep the momentum going, but competition from streaming services remains a challenge. The National Association of Theatre Owners (NATO) reports that studios are increasingly prioritizing theatrical releases to maximize revenue and audience engagement.
As the industry adapts to evolving consumer preferences, AMC and its competitors are investing in enhanced theater experiences, including premium seating, expanded food and beverage options, and immersive technologies like IMAX and Dolby Cinema.
Conclusion
AMC’s record-breaking Memorial Day weekend underscores the enduring appeal of the cinematic experience when paired with the right content. With strong box office numbers, positive investor sentiment, and a slate of anticipated releases on the horizon, the outlook for movie theaters in 2024 appears brighter than it has in years.
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