AMC Entertainment Holdings, Inc., through its direct and indirect subsidiaries, operates in the theatrical exhibition business. The company owns, operates, or has interests in theatres primarily located in the United States. The company’s subsidiaries include AMC Entertainment Inc. (AMCE) and American Multi-Cinema, Inc. (OpCo). As of December 31, 2015, the company owned, operated or held interests in 387 theatres with a total of 5,426 screens primarily in the United States. Its main markets are New York, Los Angeles, Chicago, Philadelphia and Dallas. Across its entire circuit, approximately 200 million customers visited its theatres during the calendar year 2015. In 2005, the company formed a joint venture with Regal Entertainment Group (Regal) and combined its respective cinema screen advertising businesses into a company called National CineMedia, LLC (NCM). In 2005, Cinemark Holdings, Inc. (Cinemark) joined NCM by contributing its cinema screen advertising business, and together with the company and Regal, became ‘Founding Members’ of NCM. As of December 31, 2015, the company owned 17.66% ownership interest in NCM. In 2011, the company launched a distribution company, called Open Road Films, LLC (Open Road Films) along with another theatrical exhibition chain. Open Road Films is an acquisition-based domestic theatrical distribution company that concentrates on wide-release movies. The company holds a 29% interest in Digital Cinema Implementation Partners, LLC (DCIP), a joint venture charged with implementing digital cinema in its theatres. The company owns a 15.45% interest in Digital Cinema Distribution Coalition, LLC (DCDC), a joint venture with certain other exhibitors and film distributors. DCDC was formed to develop a satellite distribution network for feature films and other digital cinema content. As of December 31, 2015, 331 of the company’s theatre locations are equipped to receive content via the DCDC network with an additional 6 sites scheduled for installation and 40 sites awaiting landlord approvals. Film Licensing The company licenses ‘first-run’ motion pictures from distributors owned by major film production companies and from independent distributors. It licenses films on a film-by-film and theatre-by-theatre basis. The company obtains these licenses based on various factors, including number of seats and screens available for a particular picture, revenue potential and the location and condition of its theatres. Food and Beverage Food and beverage items include popcorn, soft drinks, candy, hot dogs, premium food and beverage items, specialty drinks (including premium beers, wine and mixed drinks), healthy choice items and made to order hot foods, including menu choices such as curly fries, chicken tenders and mozzarella sticks. Different varieties of food and beverage items are offered at its theatres based on preferences in that particular geographic region. As of December 31, 2015, the company has implemented dine-in theatre concepts at 19 locations, which feature full kitchen facilities, seat-side or deliverly servers and a separate bar and lounge area. Strategy The company aims to maintain and increase its leadership position and competitive advantage through the following five tightly defined strategies: more comfort and convenience; enhanced food and beverage; greater engagement and loyalty; premium sight and sound; and targeted programming. The company’s strategy emphasizes prominent and appealing food and beverage counters designed for rapid service and efficiency, including a customer friendly grab and go experience. Seasonality The company’s revenues are dependent upon the timing of motion picture releases by distributors. The most marketable motion pictures are usually released during the summer and the year-end holiday seasons. Therefore, its business is highly seasonal, with higher attendance and revenues generally occurring during the summer months and holiday seasons. Dispositions In January 2016, the comany divested of two Starplex Cinemas theatres with 22 screens, as required by the Antitrust Division of the United States Department of Justice. Regulations The company’s theatres must comply with Title III of the Americans with Disabilities Act (ADA). Compliance with the ADA requires that public accommodations ‘reasonably accommodate’ individuals with disabilities and that new construction or alterations made to ‘commercial facilities’ conform to accessibility guidelines unless ‘structurally impracticable’ for new construction or technically infeasible for alterations. History AMC Entertainment Holdings, Inc. was founded in 1920.
amc entertainment hlds-cl a
(AMC:New York Consolidated)
One AMC Way
11500 Ash Street
Leawood, KS 66211
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