AMC CEO Praises Netflix, Advocates for Collaboration Amid Criticism from Theater Owners
Concerns about a potential merger between Netflix and Warner Bros. continue to resonate within the film industry. Exhibitors, guilds, and prominent filmmakers like James Cameron have expressed worries that such a partnership could detrimentally impact the theatrical motion picture business. Amid these apprehensions, AMC Theatres CEO Adam Aron recently shared a surprisingly optimistic perspective on the collaboration.
During an earnings call, Aron hailed the success of recent AMC-Netflix partnerships, particularly noting the theatrical releases of KPop Demon Hunters and the Stranger Things series finale. The latter event generated $15 million in concession revenue and attracted over 753,000 attendees, despite Netflix’s inability to sell tickets due to guild residual issues.
Ironically, AMC previously opted not to screen the Oscar-nominated KPop Demon Hunters upon its initial release in late August. Nevertheless, the film topped the box office with $19 million over the weekend, marking Netflix’s first time leading the weekend chart. AMC later embraced KPop Demon Hunters during the Halloween weekend, which Aron reported accounted for approximately 35% of the movie’s total attendance during that period. The film’s second weekend at the box office generated around $6 million.
Although AMC and Netflix have had a contentious relationship over the years, with unresolved disputes over major releases like Martin Scorsese’s The Irishman, it seems that the two companies are moving towards collaboration. “You may recall that a few months ago AMC and Netflix made the joint decision to partner together,” Aron stated during the call. “This was a significant departure from our two companies staying at arms length from each other over many years.”
Aron emphasized the potential for growth, noting, “The success of our recent collaborations with Netflix highlights the strategic opportunity that lies ahead. With roughly two-thirds of AMC Stubs loyalty members also subscribing to Netflix, the audience overlap is both significant and compelling.”
He concluded his remarks by stating, “Our two companies should be best of friends, and I can confirm that AMC is enthusiastic about the prospect of expanding our relationship with Netflix. We look forward to working together to create innovative, mutually beneficial theatrical events that drive value for both companies.”
Aron’s positive outlook on Netflix stands in contrast to the broader criticism the streamer has received regarding its theatrical strategies, particularly concerning wide releases. Following Netflix’s $83 billion bid for various Warner Bros. assets, CEO Ted Sarandos indicated a commitment to maintaining a 45-day exclusive theatrical window if the acquisition proceeds. There are ongoing concerns, however, about the implications of a quick transition from theatrical releases to digital streaming.
Looking ahead, Netflix announced plans to screen the first two episodes of One Piece’s second season in theaters alongside its March 10 premiere in 200 locations across the U.S., Canada, and Japan. Additionally, AMC is set to be involved in the Imax release of Greta Gerwig’s Narnia in November, although details about a wide release for either Narnia or David Fincher’s upcoming film The Adventures of Cliff Booth remain unconfirmed.
In related developments, the Warner Bros. Discovery board has acknowledged a new proposal from Paramount as potentially significant, prompting ongoing discussions about its implications under the current merger agreement with Netflix.
