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Zoom and AMC have teamed up for a partnership that will turn movie theaters across the United States into video conferencing venues.
Users can book their favorite theater online and then have three hours to virtually host their event as Zoom Rooms in select theaters across the country.
AMC and Zoom will provide the necessary equipment for the entire Zoom Rooms experience, as well as the option of snacks and drinks, film screenings and personalized concierge-style meeting handling.
Zoom Cinemas
The partnership will kick off sometime in 2023 in 17 major U.S. markets, and typical venue size is expected to range between 75 and 150 seats, depending on the theater.
These innovative efforts to generate new revenue shouldn’t come as much of a surprise, as the fortunes of both companies have been uneven of late.
Wall Street Analysts have predicted (opens in new tab) a loss per share of 25 cents for AMC’s upcoming financial results in the third quarter, with factors such as high plumbing costs coming at the expense of revenues, although they have recovered significantly since the pandemic devastated the movie theater industry.
Zoom’s valuation has also seen better days, with its share price down more than 80% from its October 2020 peak.
“Thanks to this collaboration between Zoom and AMC, we have the best of both worlds: Zoom’s spectacular communication platform combined with the comfort, size, scale and state-of-the-art sight and sound capabilities of AMC’s centrally located theaters. said Adam Aron, chairman and CEO of AMC Theaters.
“This creates an entirely new product in major cities in the US for businesses and meeting planners.”