Zoom and AMC have teamed up for a partnership that will turn movie theaters across the United States into video conferencing rooms.
Users will be able to reserve their favorite theater online and then receive a three-hour block of time to virtually host their event as Zoom rooms in select theaters across the country.
AMC and Zoom will provide the necessary equipment for the entire Zoom Rooms experience, as well as the ability to offer snacks and beverages, movie screenings, and personalized concierge-style meeting management.
zoom cinemas
The collaboration is expected to launch in 17 major US markets sometime in 2023, with typical auditorium sizes expected to be between 75 and 150 seats, depending on the theater.
These innovative attempts to generate new revenue should come as no surprise, as the fortunes of the two companies have been mixed of late.
Wall Street analysts have forecast (opens in a new tab) a loss of 25 cents a share for AMC's upcoming third-quarter financial results, with factors including high clean-up costs dragging down its revenue, though these are have recovered significantly since the pandemic devastated the film industry.
Zoom's valuation has also seen better days, with its share price down more than 80% from its October 2020 high.
"Now, through this partnership between Zoom and AMC, we have the best of both worlds: Zoom's outstanding communications platform combined with the convenience, size, scale, and industry-leading audio and visual capabilities of theaters centrally located at AMC," Adam said. Aron, Chairman and CEO of AMC Theaters.
"Create a whole new product in major US cities for business and meeting planners."