AMC Might Branch Out Into Booze
Enticing people back into movie theater seats has been an ongoing struggle for the country’s biggest cinema chains. A combination of slowly ebbing pandemic fears, the rise of on-demand streaming services, and the consolidation of Hollywood’s resources into a small handful of mega-blockbusters means that attendance has dwindled and movie theaters have resorted to all kinds of tactics to win back customers, some of which don’t even involve Nicole Kidman.
AMC continues to explore new ways to diversify its revenue streams and increase profits in a time of decreased theater attendance. The latest indication of where the chain might branch out comes straight from the Chief Executive Officer, and it sounds like it’ll involve private-label booze.
On September 15, CEO Adam Aron posted a poll on X (formerly Twitter) asking what the company’s private label wine should be called, were it to become an official part of the menu. Although Aron was speaking hypothetically, maybe even jokingly, the question was so detailed that it’s safe to presume the tweet was more than just a passing notion.
“We launched our own brand of home popcorn, and soon will launch our own branded line of premium gourmet chocolate candies,” reads Aron’s post. “If we offered at our theatres our own branded wine, too, we might name it ‘Chateau Simian’ or ‘Saint Simian’ in honor of our retail investors. Your opinion?”
The use of “simian” here is a winking callout to so-called apes, or retail investors who treat AMC like a meme stock just like they did with GameStop. Interestingly, the final results of the poll, which had 18,300 votes, showed 32.7% of voters selected “Do other things”; in other words, they were against the company pursuing its own wine label and would prefer it to innovate elsewhere. Meanwhile, 30.9% of voters want the hypothetical wine to be named Saint Simian.
$AMC Entertainment (AMC.US)$ $GameStop (GME.US)$
$AMC Entertainment (AMC.US)$ $GameStop (GME.US)$
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