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Adam Aron \u2013 CEO of AMC Theatres \u2013 revealed that cryptocurrencies and other digital payment methods accounted for more than a third of the online payments for the company during Q1, 2022. The largest movie theatre chain in the world accepts several digital assets, including Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, and Shiba Inu.<\/p>\n
Last year, the entertainment firm jumped into the digital asset ecosystem by allowing<\/a> customers to purchase tickets through all the US-based theatres in bitcoin. A month later, it expanded<\/a> the offering, adding Ethereum, Litecoin, and Bitcoin Cash. Earlier this year, AMC Theatres enabled<\/a> clients to make online payments for tickets using two of the most popular memecoins \u2013 Dogecoin and Shiba Inu.<\/p>\n During a Q1 2022 earnings call, CEO Adam Aron revealed<\/a> that cryptocurrencies and digital settlement methods formed approximately 35% of the entity\u2019s online payments during the first quarter of the year:<\/p>\n \u201cTaken together, these various new payment options, impressively, recently represented about 35% of our total online payments.\u201d<\/p>\n<\/blockquote>\n In addition, Aron disclosed that AMC marked a significant improvement during this period compared to Q1, 2021, fueled mainly by the decreasing impact of the COVID-19 pandemic. Total revenue grew from $148.3 million to $785.7 million, while net loss decreased from $567.2 million to $337.4 million.<\/p>\n AMC announced 1st quarter 2022 earnings today. Revenues up 5-fold vs. Q1 of 2021. EBITDA loss reduced by 80%. Revenues per patron up 34% over 2019 pre-pandemic. Dr Strange opening was the biggest of 2022, and the 2nd biggest in the last two years! Go see it! Congrats @Disney<\/a>.<\/p>\n \u2014 Adam Aron (@CEOAdam) May 10, 2022<\/a><\/p>\n<\/blockquote>\n<\/blockquote>\n The CEO further revealed that the entertainment company has eight programs involving non-fungible tokens. Those have either been launched over the past several months or will be introduced at some point in the future.<\/p>\n Such a project was AMC Theatres\u2019 decision to offer<\/a> 86,000 digital collectibles to early buyers of the latest Spider-Man film last year. The NFTs were in 100 different designs while the company promised they were \u201ceco-friendly\u201d built on the WAX blockchain.<\/p>\n The initiative created massive enthusiasm among film fans. Aron disclosed that customers were rushing to buy tickets for \u201cSpider-Man: No Way Home,\u201d becoming the second-biggest one-day move ticket sales in AMC\u2019s history. The record belongs to \u201cAvengers: Endgame.\u201d<\/p>\n PrimeXBT Special Offer: Use this link<\/a> to register & enter POTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\n\n
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AMC and NFTs<\/h2>\n
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