AMC chief financial officer Craig Ramsey on Tuesday said the U.S. box office haul for 2019, expected to be the second highest of all time at $11.4 billion, has become a let down
"We maybe got a little ahead of ourselves," Craig Ramsey told an investors conference after the industry last year fell short of a record 2018 box office tally.
Current estimates for 2019's final tally are down from 2018 when the U.S. box office brought in a best-ever $11.88 billion. As AMC Theatres faces competition in the home entertainment arena from Netflix and other streamers, the exhibition giant has launched its own ticket subscription service, Stubs A-List, and refurbished its cinemas to retain customer loyalty.
As he gets set to make his own exit, Ramsey looked back on an exhibition industry today facing a competitive threat as the Hollywood studios, as major movie providers to the local multiplex, also launch streaming platforms.
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