AMC Entertainment will equip all cinemas with technology to accept cryptocurrency by the end of 2021.
AMC Entertainment, the world's largest cinema operator, has decided to start accepting bitcoins for payment. The CEO of AMC, Adam Aron, announced it. According to the company's head, the project will be launched in the U.S. market by the end of 2021.
Aron noted that many of the company's most significant retail investors are very enthusiastic about cryptocurrencies. All cinemas will be equipped with payment technology, which will ensure the acceptance of bitcoins. At the same time, AMC's movie theaters will begin accepting payments through Apple Pay and Google Pay. During the interview, Aron also answered many questions from journalists - whether the company would invest in movie theaters ("no, that's bad business") or in consumer products ("yes, it would"), or in film production ("no, it's expensive").
The company announced plans to launch new payment methods after the release of its financial statements. According to CNBC, over the past quarter, the U.S. market leader increased revenue by 19%, to the mark of $444.7 million. AMC stock rose 7% on the positive news. In turn, Bitcoin surpassed the $46,000 mark for the first time in months and continued to climb after a record decline this summer.