Spider-Man Helps AMC Smash Its 106-Year Revenue Record — Beating 'Avengers: Endgame'

• AMC said Thursday, Friday, Saturday and Sunday each set new single-day admissions revenue records for their respective weekdays.
• The company also posted its highest-ever weekend admissions revenue for Dolby Cinema locations, underscoring strong demand for premium-format screenings.
• The performance surpassed the previous admissions record set during the opening weekend of Avengers: Endgame in 2019, AMC said.

Shares of AMC Entertainment Holdings Inc. (AMC) rose more than 9% in Monday’s pre-market trade after the theater chain said it recorded the highest weekend revenue in its 106-year history, fueled by the blockbuster debut of “Spider-Man: Brand New Day.”

The company said more than 10.2 million moviegoers attended AMC Theatres in the U.S. and ODEON Cinemas internationally between Wednesday and Sunday, helping it set new all-time records for total revenue, admissions revenue and food and beverage sales.

Spider-Man Drives AMC’s Historic Weekend

AMC said that “Spider-Man: Brand New Day” was the primary catalyst behind the record-breaking weekend.

The film generated a reported $355 million at the domestic box office and $927 million globally, marking the second-largest domestic and worldwide opening weekend for any movie in history, according to a report by CNBC.

AMC said Thursday, Friday, Saturday and Sunday each set new single-day admissions revenue records for their respective weekdays. The company also posted its highest-ever weekend admissions revenue for Dolby Cinema locations, underscoring strong demand for premium-format screenings.

The performance also surpassed the previous food and beverage revenue record set during the opening weekend of Avengers: Endgame in 2019, AMC said.

The Odyssey Keeps Premium Screens Packed, Says AMC

AMC added that Christopher Nolan's “The Odyssey” also continued to drive theater traffic, particularly on IMAX screens.

The theatre chain noted that demand remained so strong that its AMC Lincoln Square 13 location in New York operated around-the-clock IMAX 70mm screenings for the third consecutive weekend.

CEO Adam Aron said the results demonstrate that moviegoers continue to embrace the theatrical experience when studios release compelling films backed by strong marketing, noting that this marks the ninth movie since March this year to deliver a blockbuster opening weekend.

“AMC Entertainment’s results this weekend once again clearly demonstrate that moviegoing remains a deeply valued part of our culture the world over, and that excitement for seeing movies in theatres is as strong as ever,” Aron added.

AMC previously said “The Odyssey” delivered the most successful IMAX run in the company's history through its first two weekends, highlighting sustained demand for premium-format moviegoing as “Spider-Man: Brand New Day” debuted.

What Retail Traders Think Of AMC

Retail sentiment on Stocktwits around AMC trended in the ‘bullish’ territory at the time of writing, with message volumes at ‘high’ levels.

AMC stock is up 81% year-to-date, but down 3% over the past 12 months. The iShares Russell 2000 ETF (IWM) is up 33% over the past 12 months, while the Vanguard Small-Cap Growth Index Fund ETF (VBK) is up 21%.

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