AMC's results signal hard times at the box office

STORY: Despite big-ticket releases like 'Avatar', AMC saw

a 17% drop in footfall in its theaters in Q4 2022

It’s AMC’s fourteenth consecutive

quarterly loss, according to an analyst

Revenue fell 15.4% in the quarter

In the U.S. and Canada, AMC box office

collection was above $11 billion in 2019

But even with the easing of health restrictions,

movie-going habits have been slow to return

AMC box office numbers came in at $7.4 billion in 2022

During the health crisis streaming became

the go-to for movie watchers

Now, cost-of-living pressures are being felt as well

Source: Wedbush Securities

Analysts expect 2023 box office numbers

to be down 24% from 2019 levels

AMC said it doesn't expect to return to

pre-health crisis norms until 2024 or 2025