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AMC Entertainment CFO Craig Ramsey On Stock Slump, 2020 Film Slate, Streaming Impact, More

January 08, 2020 / Dade Hayes
SHARESHARESHARE

Craig Ramsey, CFO of AMC Entertainment, addressed hot topics including the exhibitor’s flagging stock price and its outlook on the 2020 film slate, streaming and windows in an appearance at Citibank’s TMT West Conference. “Everybody’s been saying it’s not going to be as good a year” in 2020, Ramsey said. “Well, we’ll see. Clearly, it doesn’t look like, just in terms of the titles, like it’s going to be as strong. That’s going to fit into this whole streaming dialogue as well.” Earlier Tuesday, AMC’s stock fell to a multi-year low of $7 a share before closing at $7.13. It posted one of the sharpest declines of any media or entertainment stock in 2019. One source of investor angst is Netflix’s multi-billion-dollar investment in its movie business, manifest in 2019 with marquee titles like The Irishman and 6 Underground. Box office was the third-highest total ever recorded last year, but revenue slipped 4%...