Cinephiles (and retail investors) rejoice – two of L.A.'s most popular and successful movie theaters have been revived and renovated by none other than the world's largest movie exhibition companies: AMC Entertainment Holdings, Inc. Caruso's The Grove and The Americana at Brand are the lucky destinations that are now re-welcoming the community back to one of America's favorite pastimes – watching movies on larger-than-life screens with popcorn in hand.
The iconic theaters, formerly occupied by Pacific Theaters, have been renovated to include premium large-format screens (including IMAX), Dolby Cinema at AMC, and PRIME at AMC; and are currently open to the public.
AMC has recently come into the spotlight after retail investors discovered a collective plot by some of the largest hedge funds in the U.S., to topple the beloved company by betting against its revival. Nevertheless, with the support of movie-goers and investors alike, AMC announced that it reached an agreement with Caruso to add long-term leases at the two renowned outdoor shopping centers.
The Grove Theater, a 14-screen theater, was the second-highest-grossing theater in 2019 at $12.3 million; while Glendale's Americana at Brand Theater, with 18 screens, was the fifth-highest-grossing theater in the L.A. area at $11 million. AMC knew exactly what it was doing when it chose these two to spearhead its new campaign to revive several more of L.A.'s closed theaters.
Adam Aron, AMC's CEO and President commented:
"The Grove and The Americana at Brand theatres are among the most successful theatres in the greater Los Angeles area, and we look forward to delivering the high-quality experience for guests visiting these theatres that AMC is known for in the Los Angeles area and nationally. AMC is proud to be expanding in the movie-making capital of the world. And we are eager to get started as soon as possible, showcasing for our guests at these two theatres the exciting lineup of movies scheduled throughout the rest of 2021."
AMC has been elevating the theater experience for years, adding such progressive elements into their locations as power-recliner seats, enhanced food and beverage options, loyalty and subscription programs, and offering an array of content from major motion pictures to independent programming.
The reopenings come after the film industry lost $32 billion as a result of the pandemic and as the economic model continues to shift from one based on box office ratings to one based on online streaming subscriptions.
AMC The Grove 14, 189 The Grove Dr, Los Angeles, California 90036, (323) 879-6948.
AMC Americana at Brand 18, 322 Americana Way, Glendale, California 91210, (818) 937-4521.
