Adam Aron
CEO of AMC Entertainment
Andy Such
Interim CEO, AMC Cinemas KSA
Saudi Arabia
It speaks volumes about the damage that COVID wrought on theatre-going that shares in the world’s largest exhibition chain, AMC, actually jumped after posting a loss of $134 million in its latest financial quarterly results. Compared to last year, that was good news – and a sign that consumers are returning to the multiplex. In Saudi Arabia, where it was the first company to open a cinema there, AMC now has 65 screens across 10 venues – but that’s half of what it hoped to open by the end of 2021, and less than the estimated 150 screens that both Saudi brand Muvi and Dubai-based Vox Cinemas currently operate. The KSA operation, a joint venture with a subsidiary of the country’s sovereign wealth fund, has now replaced its CEO and installed a former executive from Vox as interim chief. Nonetheless, the company should benefit from this super-charged new market that posted $239 million in total box office grosses in 2021.