Zoom and AMC have linked up for a partnership that will turn movie theater locations throughout the United States into video conferencing venues.
Users will be able to book their preferred theater online, and will then receive a three-hour block of time to virtually host their event as a Zoom Rooms across selected theaters across the country.
AMC and Zoom will provide the necessary equipment for the entire Zoom Rooms experience, as well as providing the option of snacks and beverage offerings, movie viewings, and concierge-style personalized handling of the meetings.
Zoom cinemas
The collaboration is set to launch in 17 major US markets some time in 2023, and typical auditorium sizes are expected to range between 75 and 150 seats, depending upon the theater.
These innovative attempts to drum up new revenue shouldn’t really come as that much of a surprise, both companies' fortunes have been uneven as of late.
Wall Street analysts have predicted a loss per share of 25 cents for AMC's upcoming Q3 financial results, with factors such as high sanitation costs eating into its earnings, though these have recovered substantially since the pandemic devastated the cinema industry.
Zoom's valuation has also seen better days, its stock price is more than 80% down from its October 2020 peak.
“Now through this partnership of Zoom and AMC, we have the best of both worlds — the spectacular communications platform of Zoom combined with the comfort, size, scale, and state-of-the-art sight and sound capabilities of AMC’s centrally located theatres,” said Adam Aron, Chairman and CEO of AMC Theatres.
”This creates an all-new product in major cities across the U.S. for companies and meeting planners.”
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