Some people have pictures of Mickey Mouse or Darth Vader on their credit cards. Others show their allegiance to a sports team or hope enough trips to the grocery store will one day provide enough miles to fly somewhere warm. And then there’s real brand loyalty, the kind only happens when you apply for an AMC Theatres credit card.
Not content with offering Zoom calls on the largest screen possible or accepting Dogecoin at the concessions stand, AMC Theatres’ latest innovation is a branded credit card with Visa. Launching in early 2023, a press release touts the official AMC Entertainment Visa Card as “the only credit card of its kind in the U.S. theatrical exhibition industry.” Take that, Cinemark.
So why waste credit-card spending on other perks when you can now earn AMC Stubs rewards points for every purchase? Cardholders’ first $50 spent will earn them $50 in AMC Stubs Bonus Bucks (to be used within 90 days); gas, groceries, and dining will accelerate those earnings. Points can be used on concessions, dine-in menu options, and movie tickets. (No word if you can get a card with Nicole Kidman’s glowing face on it.)
AMC expects demand to be high. It’s launching a waitlist, with the chance to win a night as the guest of AMC CEO Adam Aron at a red carpet premiere. (We’re guessing AMC’s rivals at Cineworld won’t be able to offer a screening with its CEO.)
In an extended statement, Aron said: “The AMC Entertainment Visa Card is another example of AMC’s continued dedication to providing real value to moviegoers and strengthening the relationship we have with our loyal moviegoing guests. Until now, the theatrical exhibition industry is one of the few untapped major retail sectors that hasn’t offered consumers the opportunity to amplify their purchase power, accelerate their rewards, and demonstrate their loyalty through the use of a co-branded credit card. With a built-in customer base of tens of millions of existing AMC Stubs members, we know there are avid moviegoers who will benefit greatly from using their AMC Entertainment Visa Card at the movies and for their everyday purchases,. There also is another extremely important constituency for whom we care greatly, and who will find the AMC Entertainment Visa Card to be of compelling appeal: AMC’s millions of enthusiastic and passionate shareholders. This new AMC Entertainment Visa Card was certainly designed with them in mind.”
The AMC Entertainment Visa card is the latest in a series of revenue-stream diversifications for the world’s top exhibitor. In March, AMC purchased 22 percent of Nevada’s 71,000-acre Hycroft Mine for $27.9 million. It also launched a new APE security, AMC Preferred Equity Units, which were designed to strengthen its balance sheet. AMC common stock closed Tuesday down 3.87 percent at $5.72.