AMC Theatres CEO Adam Aron claims that AMC crypto payments, as well as numerous other digital payment options, made up 35% of the firm’s online transactions in recent months.
Following the debut of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) online payment processing in November, AMC Theaters has been working on various crypto adoption approaches since then.
The AMC Theatres mobile app now accepts Dogecoin (DOGE) and Shiba Inu (SHIB) payments, as evidenced by this tweet from last month:
AMC Crypto Payment Receives Good Feedback
The move into Bitcoin was met with acclaim, according to Aron. In addition, it opened up several payment rails that it had previously explored.
The boss also said that the company’s technological innovation had made it possible to receive payments from customers using cryptocurrency. Among the most popular methods are Apple Pay, Google Pay, PayPal, Bitpay, and Venmo. “In total, these various new payment choices have recently accounted for about 35% of our total online payments.”
Aron went on to say that the AMC team is testing more options to bring even more crypto payment options to its customers.
In other words, the firm is not only looking at Bitcoin but also Ethereum, Litecoin, Bitcoin Cash, and Dogecoin. All of these coins are now available for use on the AMC Theatres app.
“We want to be at the forefront of this technology,” Aron said. “And we want to give our customers maximum flexibility in how they pay for their movie tickets.”
AMC Says Yes to NFTs
Aside from the AMC crypto payments, Aron also stated that the firm will have eight distinct initiatives this year. He mentioned that AMC and its NFT programs have already delivered results. It assisted in “sparking the sale of movie tickets” for AMC, according to Aron.
Sony Pictures’ “Spider-Man: No Way Home” had an NFT promotion connected to its November opening day, which included roughly 86,000 Spider-Man NFTs for members of its “AMC Stubs Premiere & A-List” and “AMC Investor Connect” subscriptions.
With the worldwide pandemic’s impacts beginning to wane in 2022, and lockdown periods being forgotten, AMC said that their Q1 report showed a massive year-over-year rise, with total revenue increasing 429.8% from $148.3 million in Q1 2021.
In Q1 2022, net loss decreased by over 40% from $567.2 million to $337.4 million, compared to Q1 2021.