Brent Lang Executive Editor of Film and MediaAMC Entertainment reported a net loss of $4.6 billion in 2020, a shocking illustration of the toll that the coronavirus pandemic took on the world’s largest theater chain and the exhibition sector.
With many locations shuttered for months and Hollywood blockbusters largely sitting out 2020, revenues for the company fell 77.3% to $1.2 billion, down from $5.5 billion in 2019.For the most recent financial quarter, AMC Entertainment’s revenues fell 88% to $162.5 million, down from $1.4 billion in the year-ago period.
The company’s losses for the three-month period ending in December topped out at $946.1 million, down from a loss of $13.5 million in the year-ago period.
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