AMC ENTERTAINMENT HOLDINGS, INC. (AMC)

AMC Entertainment Holdings, Inc., through its subsidiaries including American Multi-Cinema, Inc., operates in the theatrical exhibition business, owning, leasing or operating movie theatres primarily in the United States and Europe; founded in Kansas City, Missouri in 1920 and incorporated in Delaware in 2007, the company is headquartered in Leawood, Kansas. AMC is the world's largest theatrical exhibition company, having pioneered industry innovations such as Multiplex theatres in the 1960s, stadium-seated Megaplex theatres in the 1990s, and more recently premium recliner seating and its AMC Stubs A-List subscription loyalty program. The company operates through two reportable segments, U.S. markets and International markets, with international operations resulting largely from its 2016 acquisition of Odeon and UCI Cinemas Holdings Limited and its 2017 acquisition of Nordic Cinema Group Holding AB.

As of December 31, 2022, AMC owned, leased or operated 940 theatres and 10,474 screens across 12 countries, including 586 theatres and 7,648 screens across 43 U.S. states and the District of Columbia (with approximately 50% of the U.S. population living within 10 miles of a theatre), and 354 theatres and 2,826 screens in European markets and Saudi Arabia (with a subsequent sale of its Saudi Arabia investment in January 2023). The company holds market-leading positions in major U.S. markets including Los Angeles, New York, Chicago, Atlanta, and Washington, D.C., and is a market leader in several European countries including Italy, Sweden, Norway, Finland, and a leading operator in the United Kingdom, Ireland, Spain, Portugal, and Germany. Revenues are generated primarily from box office admissions and theatre food and beverage sales, with the company offering a broad range of entertainment including traditional film programming, private theatre rentals, independent and foreign films, and performing arts, along with diverse food and beverage options such as made-to-order meals, premium cocktails, and dine-in options; additional ancillary revenue comes from on-screen advertising, customer loyalty program fees, theatre auditorium rentals, gift card and exchange ticket sales, and online ticketing fees.

Its customers are moviegoers across its U.S. and international theatre circuits, and its business serves as a distribution channel for movie studio partners, with the company's operations and financial performance significantly affected by the COVID-19 pandemic, evolving studio release strategies including streaming and premium video-on-demand, and ongoing efforts to manage liquidity, debt, and capital structure.