Why one movie theater chain wants you to stay home
CNN
AMC Entertainment, the theater chain and darling of the meme stock crowd, is hoping to profit as more people stay home to watch movies on streaming networks like Netflix and Disney+. How? In the immortal words of NFL Hall of Famer Terrell Owens: Getcha popcorn ready.
AMC (AMC) announced last week that it hired a veteran consumer products executive to try to ramp up its business of selling its popcorn at retail stores, not just in theaters.
Ellen Copaken, previously an executive at Pepsi's (PEP) Frito-Lay snack unit and Twinkees owner Hostess Brands (TWNK), will start at AMC Friday as the company's vice president of growth strategy. It's a new position for AMC and Copaken will report to the chief strategy officer, Mark Pearson.
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