AMC Entertainment, alongside several other theater chains, plans to offer special pricing to customers on Sept. 3. This is part of a National Cinema Day celebration that will allow moviegoers to get tickets for just $3.
The idea behind this deal is that it will bring people back to theaters. While movies have been performing better than they were during Covid-19 lockdowns, recovery isn’t complete yet. Offering up cheap tickets to get people to experience seeing a movie in theaters again may be just the way to solve that.
National Cinema Day Could Boost Slow Labor Day Traffic
Adding to that, the special discount also serves to increase traffic during a typically slow part of the year. Labor Day weekend is typically one of the least busy times for movie theater chains. That’s why it can’t hurt to offer a discount to draw in customers and could be a catalyst for AMC stock.
Jackie Brenneman, president of Cinema Foundation, said the following to NBC News about the National Cinema Day event:
After this summer’s record-breaking return to cinemas, we wanted to do something to celebrate moviegoing. We’re doing it by offering a ‘thank you’ to the moviegoers that made this summer happen, and by offering an extra enticement for those who haven’t made it back yet.
AMC stock is down 2.3% during pre-market trading on Monday.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.