AMC Entertainment announced this week that it is expanding its business beyond the operation of movie theaters. According to a press release, the company plans to get into the growing multi-billion dollar popcorn market. AMC will sell its AMC Theatres Perfectly Popcorn, the same popcorn it has sold in its theaters for more than a century since 1920, through four new platforms. Starting in 2022, AMC will begin selling AMC Theatres Perfectly Popcorn at select mall retail locations around the United States. Those new kiosks, counters, and stores will sell authentic AMC movie theater popcorn and other AMC movie theater snack items. This news comes following AMC’s previous announcement that it would begin accepting Bitcoin payments at its theaters for tickets and food items.
Additionally, AMC also plans to make its AMC Theatres Perfectly Popcorn available through food delivery-to-home services. AMC will also sell “To Go” packages at its theatres of freshly popped popcorn for takeout or pickup. Later in 2022, AMC plans to offer packaged and microwaveable AMC Theatres Perfectly Popcorn in supermarkets and convenience stores.
According to AMC, the U.S. popcorn market expects to grow significantly over the next several years. As the largest freshly popped popcorn provider in the United States, AMC believes that expanding into the retail sale of popcorn is a natural extension of its core business.
AMC initially plans to launch up to five “AMC Theatres Perfectly Popcorn” stores, counters, and kiosks in shopping malls around the country in the first half of 2022. These initial locations are likely to be in malls without an AMC theatre location. AMC plans to have up to 15 retail stores open by the end of 2022, with more opening in 2023 and after. The menu will consist of traditional and gourmet-flavored popcorn, candy, other movie theater treats, Coca-Cola Freestyle options, and bottled water. All AMC Theatres Perfectly Popcorn locations will feature freshly made popcorn on-site, providing the theater popcorn experience without the theater.
Also, in 2022, customers can order AMC Theatres Perfectly Popcorn from nearby theaters and have it delivered to their homes using delivery-to-home services. AMC will also begin selling “To Go” packages of freshly popped popcorn at its theatres for takeout or pickup. Also, AMC is working to offer microwaveable AMC Theatres Perfectly Popcorn in supermarkets and convenience stores around the country later in the year.
In the press release, Adam Aron, Chairman of the Board and CEO of AMC, said, “The announcement that AMC will become a competitor in the multi-billion popcorn market is so natural and logical, one wonders why the idea has not been tried before. Needless to say, AMC knows popcorn ever so well. On our busiest days, AMC Theatres currently pops in the range of 50 tons of popcorn per day. But the popularity of popcorn extends well beyond the doors of our movie theatres. With this new AMC initiative, we expect to reach entirely new segments of the U.S. population with our popular AMC Theatres Perfectly Popcorn. For AMC Entertainment, this is an opportunity to diversify our business and to create a new revenue stream for our company, all the while delighting popcorn lovers whether they are in our theatres, are on the go, or find themselves in the comfort of their own homes.”
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