AppleInsider Staff
Longtime Apple Pay holdout AMC is changing its tune on digital payments after being saddled with more than a year of sagging revenue thanks in large part to the COVID-19 pandemic.
During the company's quarterly earnings call for the second quarter of 2021, AMC announced it is building systems to support both Apple Pay and Google Pay, reports Variety. A rollout is planned by 2022.
America's largest movie theater chain is also preparing to accept bitcoin for tickets and concessions, which is believed to be a consideration for a wave of younger investors that now back the company as a "meme stock."
Whether Apple Pay will be available for both tickets and concessions is unknown, though such a scenario is likely considering AMC runs both departments and is extending the option for bitcoin.
AMC is facing down a dramatic decrease in profits as the COVID-19 pandemic kept theatergoers at home for more than a year. Even now, some areas in the U.S. hold mandates that limit theater occupancy to halt spread of the virus. Most states are back to full operations, according to CinemaSafe, though a rise in delta variant cases might reignite calls for a lockdown.
In December, Warner Bros. dinged AMC's hopes for a quick recovery when it announced a temporary pause to its theatrical window for 2021. Responding to an uptick in COVID-19 case number, the company said it would premiere all of its 2021 movies on HBO Max alongside theater screenings. Warner Bros. is expected to return its slate to a theatrical window in 2022.
AMC managed $444.7 million in the second quarter, down from $1.5 billion during the same period in 2019.
Malcolm Owen
Oliver Haslam
Andrew O'Hara
Wesley Hilliard
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Christine McKee
6 Comments
Don't you mean "Spyware Pay"?
I’m glad about the privacy, but I have had problems trying to return items since the credit card number that Apple Pay shows isn’t the same as the number on my card. “Show us the card you used to pay for this.”, they say.