Adam Aron: Encrypted payments or digital payments account for more than a third of AMC's online payment volume

AMC Theaters CEO Adam Aron said cryptocurrencies and several other digital payment methods recently accounted for 35% of its online payments.

The popular theater chain has been gradually advancing various crypto adoption initiatives since first rolling out online payment support for BTC, ETH, BCH and LTC last November.

Last month, it also added support for DOGE and SHIB payments through the AMC Theaters mobile app.

On May 9, during the company's first-quarter 2022 earnings call, Aron emphasized that AMC Theaters' foray into the cryptocurrency space not only received a lot of "buzz," but also opened up several payment channels it had previously explored:

“The IT programming we needed to accept cryptocurrencies also enabled us to accept other payment types, including Apple Pay, Google Pay, Paypal, Bitpay, and Venmo. Taken together, it’s impressive that these different new payment methods It recently accounted for about 35% of our total online payments."

When talking about AMC's NFT plan, Aron also said that the company has eight different projects that have been launched or are in the pipeline this year, noting that the technology has helped AMC "stimulate movie ticket sales."

One of the NFT promotions is tied to the November premiere of Sony Pictures' "Spider-Man: No Home" and includes giving some 86,000 shares to subscribers of its "AMC Stubs Premiere & A-List" and "AMC Investor Connect" A Spiderman NFT.

As the impact of the global pandemic begins to wane in 2022 and lockdowns fade away, AMC reported strong year-over-year growth in its first-quarter report, with total revenue up $429.8 compared to $148.3 million in the first quarter of 2021 %, reaching $785.7 million.

Net loss also fell by about 40% compared to the first quarter of 2021, from $567.2 million to $337.4 million in the first quarter of 2022.

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.