Adam Aron, CEO of AMC Cinemas, said crypto and other digital payment methods accounted for 35% of online payments recently.
The popular movie theater network has been working on adopting crypto after launching online payment support for Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). for the first time in November
And last month it also added support for Dogecoin (DOGE) and Shiba Inu (SHIB) payments via the AMC Theaters mobile app.
As part of the company’s Q1 2022 earnings report on May 9, Aron said:emphasizeThat the company’s dive into crypto opens up several more payment channels than previously explored.
“We accept other types of payments such as Apple Pay, Google Pay, Paypal, Bitpay and Venmo and when combined with Crypto makes these new payment options very impressive. Most recently, they accounted for 35% of all our online payments.”
Speaking of AMC’s NFT initiatives, Aron also stated that the company has eight different programs launched or in progress this year. And noted that the technology has also helped AMC “stimulate movie ticket sales.”
Previous NFT promotions have been linked to Sony Pictures’ release of Spider-Man: No Way Home on its November launch day. Approximately 86,000 Spider-Man NFTs have been released for members of “AMC Stubs Premiere & A-List” and “AMC Investor Connect.”
However, with the impact of the global pandemic beginning to decline in 2022, AMC reported a strong year-over-year recovery in its Q1 report, with total revenue rising 429.8% to $785.7 million, compared with 148.3 million. quarter dollar12021
Net loss was also reduced by approximately 40% compared to Q1 2021, falling from $567.2 million to $337.4 million in Q1 2022.
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