Struggling movie theater chain operator AMC Entertainment has launched its movie house rental program.
Individuals can now rent an entire cinema owned by the company for as little as $99.
Private Theater Rentals was launched after four weeks of testing. During the tests, AMC Entertainment said it received more than 110,000 inquiries. The company said the number of inquiries was more than quadruple the private theaters it had booked in 2019.
AMC Entertainment said it will make about 600 of its theaters across the U.S. available. Customers can bring as many as 20 people to a single showing.
Prices will vary depending on the location of the theater and the movie played. The company said that the cheapest price will be $99 - which will include 20 tickets and the option to view a "wide array of popular movies." More popular and recent movies will cost more. Movies like "Tenet" or "Freaky" will bump up the price to around $149 per viewing, plus tax.
AMC Entertainment is still planning to continue with its normal screenings in select theaters. However, customers must adhere to its COVID-19 policies. These include mandatory masks and social distancing measures. In some states, the company will be limiting the number of people inside its theaters depending on local regulations.
The program is part of its efforts to bring in much-needed revenue as a result of the pandemic. Similar to other cinema operators and the wider movie industry, AMC Entertainment's finances had been affected by the spread of the virus. Last month, the company warned shareholders it might run out of cash before the end of the year.
For its third quarter, AMC Entertainment reported a pretax loss of around $901.2 million on revenues of $119.5 million. This represented a record 90% year-on-year drop in total revenues. The result reflected the 97% drop in box office ticket sales in the country over the same period.
