Lately, joining the list of prominent companies accepting cryptocurrencies for their service is AMC Entertainment, the world’s largest movie theatre chain.
The group’s CEO has just disclosed this move officially, as promised earlier. In a tweet today, Adam Aron said AMC theatres would accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as online payment methods for ticket booking and concessions.
Paying Through Bitcoin For Movies
With growing consciousness, many enterprises are integrating cryptocurrencies and blockchain in their models to leverage their advantages. We’ve seen companies like Tesla, Shopify, Wikipedia, Microsoft, etc., accept Bitcoin as a payment.
And payment processing platforms like PayPal and Venmo are serving their customers with new payment means. Joining this pack lately is AMC Entertainment, the world’s largest movie theatre chain.
Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash. pic.twitter.com/uKcFyQotoJ
— Adam Aron (@CEOAdam) September 16, 2021
Based in the US, AMC Entertainment has a history of more than 100 years and acquired Odeon Cinemas, UCI Cinemas, and Carmike Cinemas in 2016 to become the largest movie theater chain in the world. It now has 7,967 screens in 620 theatres in the US and 2,866 screens in 358 theatres in Europe.
Last month, AMC Entertainment said to its investors on a quarterly earnings call that it’s will install technology in all the U.S. theaters to let consumers buy tickets or concessions online with bitcoin. Also, it will support popular online methods like Google Pay and Apple Pay by the end of 2021.
And this is happening as the group’s CEO officially announced to accept select cryptocurrencies for payments at AMC Entertainment. As per his saying,
“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash.”
Impact on the cryptocurrency market is mild by AMC’s move, yet it’s significant. A group with a few of the world’s largest theatres under its wing and accepting cryptocurrencies should bring more enthusiasm to regular movie watchers.