What a bummer. AMC closed its theaters earlier this year, expects to have lost between $2.1 billion and $2.4 billion in the first quarter.
The company also said that its revenue fell to $941.5 million, which was down roughly 22% from $1.2 billion in the same quarter last year. This quarter, the situation has gotten substantially worse.
“We are generating effectively no revenue,” the company said in a regulatory.
Like renting movies at Blockbuster is a thing of the past, watching movies in a theater may also be.