Summer Will Only Get Better for AMC
Movie theaters across the country hit the F9 key over the weekend, giving multiplex operators their strongest opening for a single movie since late 2019. F9 -- the ninth film in the Fast and Furious franchise -- rang up an estimated $70 million in domestic ticket sales over the weekend. You have to go back to the ninth installment of the Star Wars series that topped $177 million in opening weekend box office receipts nearly 18 months ago for a stronger domestic debut.
This is obviously welcome news for AMC Entertainment Holdings (NYSE: AMC) and its peers. The arrival of a highly anticipated movie that isn't available on any of the major streaming services is a hit, and the positive implications go well beyond a big weekend of ticket and popcorn sales for exhibitors. Even though $70 million in domestic ticket sales means that just 2% of the country saw Comcast's (NASDAQ: CMCSA) F9 on the silver screen, the feat should make rival studios more comfortable in sticking to upcoming theatrical release dates for their biggest films. On a higher level, F9's financial success could lead studios to rethink their approach to making films available on premium streaming platforms the same day the flicks hit theaters.
Image source: Getty Images.
Source Fool.com
