American cinema chain to accept bitcoin as a form of payment for online purchases.
AMC Entertainment will soon offer consumers the option to pay using bitcoin for online purchases of movie tickets and food and beverage concessions, with what will be a first for the industry.
Adam Aron, Chairman and CEO of AMC, told CNBC in an earnings call that the cinema is expecting to have the technology and IT systems in place to accept bitcoin by the end of 2021.
The announcement comes after the cinema’s second-quarter win, with the meme stock’s shares climbing more than 4 percent.
In 2020, the closure of cinemas worldwide saw box-office receipts hit an all-time low.
According to the Motion Picture Association (MPA) THEME report for 2020, movie patronage plummeted from an average of 1 billion cinema admissions to just 240 million for the year.
However, an increase in vaccination counts saw a rise in movie-going demand, with AMC welcoming more than 22 million moviegoers from around the globe back to their theaters this year.
“New blockbuster films released during the quarter drove successive new pandemic-era box office records,” Aron said.
“Fortunately for us, as guests returned to our theatres, they splurged on our food & beverage offerings, which admittedly is quite a high-margin business.”
Along with the introduction of bitcoin, guests will also see Apple Pay and Google Pay as payment options on AMC’s website.
“AMC’s journey through this pandemic is not finished, and we are not yet out of the woods,” Aron says.
“[But] one can look ahead and envision a happy Hollywood ending to this story.”
Want to hear more about Crypto? Hear the latest from our resident experts on Ticker Crypto
Written by Rebecca Borg
Microsoft’s non-voting board seat in OpenAI revival
Microsoft has secured a non-voting board seat at OpenAI, marking a significant development as Sam Altman returns to helm the organization as CEO.
Microsoft’s new role within OpenAI comes as the tech giant continues to deepen its involvement in AI research and development. While the board seat is non-voting, it symbolizes Microsoft’s commitment to fostering collaboration in the AI community.
This move follows Sam Altman’s recent appointment as CEO of OpenAI, bringing him back into the fold after a brief stint at the helm of the startup in its early days.
With the resurgence of Altman as CEO, and Microsoft’s newfound presence on the board, the question arises: What synergies will this partnership unlock between two prominent entities in the AI domain?
As AI technologies continue to advance, what potential breakthroughs can we expect from this collaboration?
In summary, Microsoft has secured a non-voting board seat at OpenAI as Sam Altman returns as CEO, signaling a deepening alliance in the world of artificial intelligence.
Elon Musk’s X faces $75M loss as advertisers exit
Elon Musk’s venture, X, is bracing for a substantial financial hit as reports suggest it could suffer losses of up to $75 million by the end of this year.
The turmoil stems from a growing exodus of advertisers, which has sent shockwaves through the company’s revenue streams.
The advertiser exodus appears to be linked to controversies surrounding Elon Musk and his unconventional approach to business and social media. Musk’s controversial statements and tweets have drawn both praise and criticism, but they seem to have alienated a significant portion of X’s advertising partners. Many companies are distancing themselves from the venture due to concerns about brand image and association with Musk’s unpredictable behavior.
This development raises pressing questions about the future of X and its ability to retain advertising partnerships. Can Elon Musk navigate these turbulent waters and win back advertisers? Will X need to reevaluate its strategies and adopt a more traditional corporate image? How might this impact the overall financial health of the venture, and what steps will be taken to mitigate losses?
In the midst of these uncertainties, it remains to be seen whether X can weather the storm and maintain its prominent position in the business world. Elon Musk’s unorthodox approach has often yielded success, but the current challenges pose a significant threat to the venture’s financial stability. As the year-end approaches, observers are closely watching to see how Musk and X respond to this critical situation.
Mooching friends see unpaid debts pile up
A recent survey by Finder, Australia’s leading comparison site, reveals that 1 in 4 Australians, equivalent to 4.9 million people, have not been reimbursed by friends for loans extended over the past year.
Common Debts and Unpaid Loans
According to the research, splitting a restaurant bill (6%), group presents (4%), and event tickets (3%) are the most prevalent sources of unpaid debts. Other instances include sharing a taxi or Uber (2%), travel expenses (2%), and even gambling (2%). The findings suggest a prevalent pattern of financial strain, where individuals may hesitate to contribute or repay their fair share.
Steps to Recover Unpaid Debts
- Be upfront: Initiate an open and honest conversation expressing concerns about the unpaid amount.
- Establish a repayment plan: Discuss the owed amount, set a repayment timeline, and formalize the agreement in writing, signed by both parties.
- Flexibility and understanding: Acknowledge potential financial difficulties your friend may be facing, and work together to create a manageable repayment plan.
Timely communication is of importance, addressing the issue early on prevents silent resentment from festering. For larger amounts, putting the request in writing, such as through a text message or email, is recommended.
The research underscores the need for open communication and proactive steps to address financial imbalances among friends, preserving both trust and financial stability.
US judge blocks Montana’s TikTok ban
Tech giants drive global mega-cap surge amid inflation relief
Transforming Diversity with Impactful Passion
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Tech6 days ago
Teens allegedly exploited by Meta’s designed products
Tech6 days ago
Elon Musk’s warning about OpenAi drama
News6 days ago
Meghan Markle names Royals in skin colour controversy
Shows5 days ago
Why Australia needs to take ASEAN seriously
Money5 days ago
Bill Gates’ journey to owning vast heartland farmland
News5 days ago
Mark Zuckerberg’s unique daily routine and diet
Tech6 days ago
NVIDIA faces lawsuit for trade secret theft
Tech6 days ago
Meta’s knowledge of underage users called an ‘open secret’