Movie theaters take hits this summer due to at-home movie viewing
Box office receipts took a tumble. Our Jasmine Haynes tells us what analysts are predicting when it comes to the movie theater business in today’s business report.
That disappointing news from AMC entertainment comes amid a lackluster summer for Hollywood. Box office receipts tumbled 4.4 % in the second quarter hurt by a number of box office flops. Analysts are pessimistic about the future of the movie theater business due to the ever-increasing number of on-demand offerings and more competition from television. In addition to the declines for AMC stock, shares in Regal Entertainment Group and Cinemark Holdings both declined about 5 %.