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AMC Boosts Per-Patron Spending: Can New Revenue Streams Continue?
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Key Takeaways
AMC's food, beverage and merchandise revenues rose 15.3% year over year in Q2 2026.
AMC expects movie-themed merchandise revenues to exceed $100 million in the U.S. and Europe in 2026.
Premium and XL screens drove more than 50% of The Odyssey's ticket gross despite being 8% of screens.
AMC Entertainment Holdings, Inc. (AMC - Free Report) is finding new ways to increase revenues beyond ticket sales, helping strengthen its financial performance as the box office recovers. In the second quarter of 2026, food, beverage and merchandise revenues rose 15.3% year over year, while other revenues increased 16.1%. Management also said food and beverage revenue per patron and total revenue per patron reached record levels in both the United States and international markets.
One notable growth avenue is movie-themed merchandise. AMC said the business generated no revenues four years ago but is expected to exceed $100 million in combined U.S. and European revenues in 2026. Movie-themed popcorn containers have also contributed to higher food and beverage spending.
Premium formats provide another opportunity. AMC's IMAX and Dolby auditoriums typically command a $6-$7 ticket premium, while XL screens carry smaller premiums. Management noted that premium and XL screens accounted for about 8% of screens but generated more than 50% of The Odyssey's ticket gross.
The key question is whether these initiatives can sustain per-patron growth as movie attendance normalizes. AMC's expanding merchandise business, premium offerings and food innovations provide multiple avenues to lift spending without relying solely on ticket-price increases. However, management cautioned that future pricing strategies could not be discussed, leaving the pace of further per-patron gains uncertain.
AMC’s shares have surged 189.8% over the past six months, while the industry fell 5.4%. Over the same period, AMC Entertainment has outperformed industry players like Cinemark Holdings, Inc. (CNK - Free Report) and The Marcus Corporation (MCS - Free Report) .
AMC’s Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, AMC Entertainment stock trades at a forward price-to-sales (P/S) multiple of 0.45, below the industry’s average of 2.49. Cinemark and Marcus have P/S ratios of 1.14 and 1.03, respectively.
AMC Entertainment’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AMC’s 2026 loss per share of 22 cents indicates a 77.1% year-over-year improvement from a loss of 96 cents. Conversely, industry players like Cinemark and Marcus are likely to witness 2026 earnings growth of 131.7% and 652.9%, respectively.
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AMC Boosts Per-Patron Spending: Can New Revenue Streams Continue?
Key Takeaways
AMC Entertainment Holdings, Inc. (AMC - Free Report) is finding new ways to increase revenues beyond ticket sales, helping strengthen its financial performance as the box office recovers. In the second quarter of 2026, food, beverage and merchandise revenues rose 15.3% year over year, while other revenues increased 16.1%. Management also said food and beverage revenue per patron and total revenue per patron reached record levels in both the United States and international markets.
One notable growth avenue is movie-themed merchandise. AMC said the business generated no revenues four years ago but is expected to exceed $100 million in combined U.S. and European revenues in 2026. Movie-themed popcorn containers have also contributed to higher food and beverage spending.
Premium formats provide another opportunity. AMC's IMAX and Dolby auditoriums typically command a $6-$7 ticket premium, while XL screens carry smaller premiums. Management noted that premium and XL screens accounted for about 8% of screens but generated more than 50% of The Odyssey's ticket gross.
The key question is whether these initiatives can sustain per-patron growth as movie attendance normalizes. AMC's expanding merchandise business, premium offerings and food innovations provide multiple avenues to lift spending without relying solely on ticket-price increases. However, management cautioned that future pricing strategies could not be discussed, leaving the pace of further per-patron gains uncertain.
AMC Entertainment’s Price Performance, Valuation & Estimates
AMC’s shares have surged 189.8% over the past six months, while the industry fell 5.4%. Over the same period, AMC Entertainment has outperformed industry players like Cinemark Holdings, Inc. (CNK - Free Report) and The Marcus Corporation (MCS - Free Report) .
AMC’s Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, AMC Entertainment stock trades at a forward price-to-sales (P/S) multiple of 0.45, below the industry’s average of 2.49. Cinemark and Marcus have P/S ratios of 1.14 and 1.03, respectively.
AMC Entertainment’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AMC’s 2026 loss per share of 22 cents indicates a 77.1% year-over-year improvement from a loss of 96 cents. Conversely, industry players like Cinemark and Marcus are likely to witness 2026 earnings growth of 131.7% and 652.9%, respectively.
Image Source: Zacks Investment Research
AMC’s Zacks Rank
AMC Entertainment currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.