AMC Entertainment plans to offer a co-branded credit card for members of its loyalty program in early 2023, an industry first and the latest venture from the movie chain, which will also launch its own popcorn for retail sales next year.
The card is a push to attract moviegoers and attract AMC shareholders, which CEO Adam Aron described as a “very important constituency that we care deeply about.”
Owners of the volatile meme stock include an army of retail or individual investors that Aron works hard to keep engaged and satisfied. They helped save the company from bankruptcy early last year by bidding on the shares and urging each other to buy and like in social media chat rooms. But AMC is heavily indebted and its balance sheet has been under renewed pressure of late as the theater business has struggled to return to pre-pandemic levels.
The AMC Entertainment Visa card allows holders to earn AMC Stubs award points with every purchase, with accelerated points at AMC movie theaters, gas stations, grocery stores and restaurants.
Basic AMC Stubs members can convert points into perks, while A-List and Premiere members can take advantage of free or discounted movie ticket rewards, including the latest blockbusters and all premium formats.
As a promotion, new cardholders who spend at least $50 in the first three months will receive $50 in “AMC Stubs Bonus Bucks” to spend at any theater within 90 days.
The company institutes a waiting list for the card and applicants enter a competition for an unspecified film premiere on the red carpet with Aron, who has been touring the country for screenings and premieres.
“The AMC Entertainment Visa Card is another example of AMC’s continued commitment to providing real value to moviegoers and strengthening the relationship with our loyal moviegoers,” he said. “To date, the theater exhibition industry is one of the few untapped major retail sectors that has failed to empower consumers to increase their purchasing power, accelerate rewards and demonstrate their loyalty through the use of a co-branded credit card. With an integrated customer base of tens of millions of existing AMC Stubs members, we know there are avid moviegoers out there who will greatly benefit from using their AMC Entertainment Visa card at the theater and for their everyday purchases.”
The card is powered by credit card technology company Deserve.
Author pmc-u-font-size-14″>Writer: Jill Goldsmith
Source: Deadline
Bernice Bonaparte is an author and entertainment journalist who writes for The Fashion Vibes. With a passion for pop culture and a talent for staying up-to-date on the latest entertainment news, Bernice has become a trusted source for information on the entertainment industry.
