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You can now rent a private AMC theater for just $99

October 17, 2020. Summarized by summa-bot.

A crisp Benjamin Franklin will get you your own private movie theater.

(CNN)A crisp Benjamin Franklin can get you your own private AMC movie theater.

AMC Theatres joins a handful of cinemas letting customers rent out auditoriums for private screenings -- a growing trend due to the Covid-19 pandemic.

According to its website, rates start at $99, excluding tax, and increase to $349 depending on the movie, the theater's location and any other add-ons like food and drink.

AMC's FAQ page lists renting a microphone to greet guests as an extra $100 charge, while more time to enter an auditorium, beyond the standard 15 minutes, will cost another $250.

It's part of the theater chain's effort to remain afloat this year as the Covid-19 pandemic contributes to record industry losses.

AMC's revenues fell to $941. 5 million, down roughly 22% compared with $1. 2 billion in the same quarter last year, according to a Security and Exchange Commission filing in June.

In another filing, the world's largest theater chain could run out of money by the end of the year.

The company blames these losses on having shut its theaters to mitigate the spread of the virus.

And the number of viewers using streaming services has increased significantly since stay-at-home orders began last spring.

According to a Nielsen report, staying at home can lead to a 60% increase in streaming activity.

Jeff Bock, a senior analyst at entertainment research firm Exhibitor Relations, told CNN earlier this month that theaters will continue to be hit hard if these trends continue.

"The number of movie theaters that will close on a permanent basis will be directly proportional to how long it takes the US to stomp out the virus. "

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