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AMC Theatres banned people from singing along at “Wicked”

It still had its best domestic pre-Thanksgiving weekend on record.

11/27/24 8:39AM

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AMC Theatres, a national fast-food chain serving popcorn and mediocre nachos that often shows movies, too, made headlines after airing an ad before “Wicked” screenings warning audiences against singing along. It didn’t stop fans from turning out in full force over the weekend, though, as the chain’s domestic takings hit an all-time high for the weekend before Thanksgiving.

Despite the record revenues this particular blockbuster weekend, which were also due — albeit in a smaller part — to Ridley Scott’s “Gladiator II,” AMC isn’t really in a great position to be kicking moviegoers out of its theaters, with quarterly revenues still sitting below where they were prepandemic.

Still, a recently announced raft of sing-along “Wicked” specials in December where enthusiasts could hold space for “Defying Gravity” to their hearts’ content could help. And in other good news for the chain, concession stands were reportedly swamped, with much of AMC’s “Wicked” merch reportedly selling out midway through the weekend as fans snapped up pink and green popcorn holders and more. Big lines at theater food and drink counters shouldn’t come as a surprise. AMC has gotten really good at selling mountains of popcorn, drinks, and tasty treats — its business model depends on it.

According to Nicole Kidman’s famous pre-movie ad, we come to AMC theaters “for magic… to laugh, to cry, to care.” But, per AMC’s financials, she forgot “to eat.” In the last quarter, the company’s food and beverage offerings raked in $490 million, with 65.1 million visitors spending an average of $7.53 each on snacks and drinks at AMC theaters.

As anyone who actually pays the extortionate prices at AMC will unhappily tell you, the markups on the chain’s food and drinks are truly astonishing. For every $10 that the moviegoers who aren’t sneaking their own treats in spend on hot dogs, nachos, popcorn, and soda, the company takes a whopping $8.16. By comparison, for every $10 that AMC takes on ticket sales, the company holds on to just $4.88 once the actual film exhibition costs are accounted for.

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Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

Electronic Arts Makes Push for Ad Dollars Tied to Sports

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JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

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Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

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The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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