AMC Entertainment Holdings (AMC) - Get Report is marking its centennial anniversary and its phased reopening on Aug. 20 by charging the 1920 ticket price of 15 cents as the movie chain operator seeks to emerge from the coronavirus pandemic shutdown.
Shares of the Leawood, Kan., company at last check were 14% higher at $5.27.
When the first wave of more than 100 AMC theaters reopens that day, AMC said in a statement, "moviegoers can again enjoy the magic of the big screen at 1920 ticket prices." For just that one day, the company said, all tickets at AMC will be priced at 15 cents, plus sales tax.
AMC and other theater chains in March were forced to close their doors to comply with social distancing guidelines that were created in an effort to stem the spread of covid-19.
The company said the maximum tickets available for each showtime would be significantly reduced, and seats in reserved-seating auditoriums would be blocked to enable social distancing.
AMC currently expects to open about two thirds of its more than 600 U.S. theater locations in time for the September 3 release of Warner Bros.' science fiction thriller "Tenet."
The remainder of AMC’s U.S. theaters will open only after state and local officials authorize them to do so, the company said.
The one-day 15 cent ticketing celebration kicks off several promotions, AMC said.
After the Aug. 20 reopening, the company said it would bring back films like “Black Panther,” “Back to the Future,” “Ghostbusters,” “Grease” and “Star Wars: Episode V - The Empire Strikes Back” at an admission price of $5.
The company will also offer a range of $5 food and drinks through the end of October.