The U.S based movie theater chain, AMC Theaters’ CEO Adam Aron revealed thrilling facts that around 35% of online payments for its business were generated through crypto.
While attending the company’s earnings call for the first quarter of 2022 on May 9, Adam Aron stated that the firm’s inclination towards crypto is not only to gain attention for “fanfare”. This has also created a way to embrace new payment methods that they have previously explored.
AMC Theatre began accepting Bitcoin last year, and the company was granted permission to accept other cryptocurrencies as well, which it did. Last month, the company announced the integration of another two major cryptocurrencies, Dogecoin and SHIB. Apart from this, it also accepts Ethereum, Litecoin, and Bitcoincash.
He stated that “The same IT programming that was required for us to accept cryptocurrency also enabled us to accept other payment types including Apple Pay, Google Pay, Paypal, Bitpay, and Venmo among others. Taken together, these various new payment options, impressively, recently represented about 35% of our total online payments.”
Adam Aron also spoke on the NFT initiatives. He stated that the company has eight separate projects, some of them have been launched and some of them are still under development. He recognized the contribution of the tech that has helped AMC to “stimulate the sale of movie tickets”.
Earlier, AMC offered free Spiderman NFTs to members of its AMC Stubs Premiere, AMC Stubs A-List, and AMC Investor Connect who purchased their SPIDER-MAN: NO WAY HOME opening-day ticket.
The Q1 of 2022 has been fruitful for AMC as its revenue increased by 429.8% to $785.7 million compared to the $148.3 million of Q1 2021.
