And yet with attendance down 16%, we still are far more profitable in 2023 than we were in 2019. That’s the direct result of becoming more efficient. And that efficiency that we realized is a permanent efficiency. So that’s going to be something that’s going to continue in our numbers going forward.
Sean Goodman : Yeah. And there’s a final question, which I think relates very much to what we just discussed about the operations, but just about use of technology to really enhance the customer experience. And you mentioned some of that about the kiosks. And I guess there’s other things that we’re doing on using technology as well, right?
Adam Aron: So, we joke that we can’t go do the math of this company without programming in the computer first. But you would think this is a pretty simple business. You have a building, you’re turning the lights, you have a projector, you shine a picture on a wall, maybe you had people to cut of Coca-Cola or popcorn on the way in the door. And yet it’s surprisingly intricate and complicated. And one of the reasons for that is literally everything that goes on in our theaters is automated in some shape or fashion. And we’ve used technology to our advantage. We have a loyalty program, Stubs and A-List where we track the purchase history of our best customers and reward them for it. The reason we can pull that off is because our tech is so good.
Very quietly during the pandemic, we put mobile order on our website and smartphone app so that literally every guest who buys a ticket online has the opportunity to prebuy their AMC food and beverage. And our experience is we’re selling more food and beverage products to the people who are using mobile order. Again, that could happen, but for our tech. The way we distribute movies to theaters. Christopher Nolan still like 70-millimeter film, but everybody else and even Chris Nolan, everybody else sends their movies to our theaters digitally via satellite and they received on a computer server. That’s a direct result of our tech. So I do believe that from a technological standpoint, we’re pretty sophisticated as an operator today, and we’re committed to continuing to invest in technology both to benefit the guest to make the experience better to make ourselves more efficient, which means we can squeeze out more profitability on the same revenues.
I was also to stay ahead of the curve in an era where all things seem to be affected by tech.
Sean Goodman : Terrific. That concludes the questions from investors.
Adam Aron: So let me end the call simply by saying this, it doesn’t get any better than the third quarter of 2023. We beat market expectations by about 50%. It was a profitable quarter when people were expecting a loss. Revenues were booming. But it wasn’t just the revenue growth that caused our success. It was also our management of expenses the combination of which led to a very successful quarter. We do have — it would be helpful if Hollywood could end the actor strike. It will be helpful if we don’t see movies move from ’24 to ’25. But as I sit here today, I think we’re enormously optimistic and confident in the future of the movie business. AMC is the leader of it. We do — we do well. And the third quarter of 2023 reminds us that when all things are aligned, this can be a very profitable industry.
With that, thank you, one and all, for listening. If you haven’t seen Taylor Swift movie yet, go see it, if you haven’t bought a ticket yet for Beyoncé’s movie, go buy one. And we’ll happily see you as Christmas movies come out at our theaters in just a few weeks’ time. There are a lot of big movies coming. Movie theaters are going to be bustling in December of 2023 and beyond. Happy holidays to one and all, and we’ll talk to you next quarter
Operator: Thank you. Ladies and gentlemen, the conference has now ended. Thank you all for joining. You may all disconnect.
