Self-described meme monkey Adam Aron throws a smelly, smoldering pile of feces at those people who say the streaming movement will put an end to the movie theater business.
“There are so many conventional wisdoms floating around that movie theaters can’t coexist and can’t thrive in a world of streaming. What a load like cow dung. Here, that cleans it up well. What a load of cow dung,” he said. the outspoken CEO of AMC to analysts during a conversation about profits on Tuesday night.
Aaron finally has better funding to support his three-month praise, as the relief of the COVID-19 pandemic brought people back to theaters.
AMC’s said fourth-quarter sales were the strongest on a quarterly basis for two full years. Total sales rose to $ 1.12 billion from $ 162.5 million caused by the pandemic a year ago.
Attendance levels reached 59.7 million compared to about 8 million a year earlier. The number of cinema-goers has improved dramatically both in the United States and abroad.
Improved attendance led to adjusted operating gains of $ 159.2 million, a significant improvement over the previous year’s loss of $ 327.5 million.
Shares of AMC fell 2% on Wednesday despite a stronger tone around business trends.
The company is so confident in its momentum that it is using dynamic pricing for Batman’s latest film, which debuts next weekend.
“Right now, our prices for Batman, which launches this week, are a little higher than the prices we charge for other movies that are playing in the same theaters at the same time,” Aaron said.
The CEO, using Twitter, had a few farewell thoughts about his brand’s haters, as usual.
Aaron said, “The problem with conventional wisdom is that conventional wisdom is so often just completely wrong. Remember the brokers who announced that AMC would file for bankruptcy in 2021. Well, remember that otherwise highly respected experts called for the price of AMC shares to fall to $ 2, $ 1 or even a penny by February or March 2022. Now for the whole world I’m listening to[‘m] does not make any prediction for the future. I look only retrospectively, but these experts greatly underestimated the AMC. With the full benefits of retrospective, we can now happily say, because now it is a simple fact. They were wrong, they were wrong, they were wrong. “
Spoken as a true leader of the monkey memes.
Brian Sosie is the editor – in – chief and a leader in Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and so on LinkedIn.
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