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- The "Barbenheimer" phenomenon has breathed new life into meme-stock darling AMC Theatres.
- The movie chain just reported record single-week admissions revenue, thanks to the simultaneous releases of the blockbuster films Barbie and Oppenheimer.
- "The monumental success of Barbie and Oppenheimer has the entire movie and movie theater industry abuzz," AMC's CEO said.
The so-called "Barbeinheimer" phenomenon has proved a shot in the arm for the movie industry that's been struggling since the US lifted most COVID lockdown restrictions.
AMC Theatres for one has come out on top as packs of movie-goers rushed to catch the highly anticipated films, "Barbie" and "Oppenheimer," released on July 21.
The theatre-chain announced its "best week ever" between July 21 and July 27, with "Barbenheimer" helping the company post the highest single-week admissions revenue in its 103-year history, per Boxoffice Pro.
"The monumental success of Barbie and Oppenheimer has the entire movie and movie theater industry abuzz, with discussions of new records and new benchmarks being realized seemingly wherever you turn," AMC CEO Adam Aron said in a press release.
"Achieving the most admissions revenue in a single week in AMC's storied 103-year history is a testament to the moviegoing audience, who has demonstrated once again that they are ready, willing, and eager to come out to movie theaters in huge numbers," he added.
The two films, starring Hollywood stars Margot Robbie and Cillian Murphy, have already raked in hundreds of millions in just two weeks. While "Oppenheimer" has grossed about $400 million globally, "Barbie" is already edging toward earning $1 billion at the global box office, Boxoffice Pro reported.
The success of "Barbeinheimer" has also breathed some life into meme stocks, with investor favorite AMC surging 12.95% in July.