AMC Entertainment Holdings, Inc. AMC is seeing strong growth in its A-List subscription program, which is helping the company build a larger base of frequent moviegoers. At the end of the second quarter of 2026, more than 1.1 million moviegoers were enrolled in A-List, more than double the membership level five years ago.
A-List allows members to watch up to four movies a week for a monthly fee of $24-$30 plus tax. While members have the option to see up to 17 movies a month, the typical member attends two to three movies per month. This gives AMC an opportunity to drive attendance beyond major blockbuster releases.
The program also has a meaningful share of AMC Entertainment’s U.S. traffic. A-List members who also participate in AMC Stubs accounted for around 20% of the total U.S. theater patronage in the second quarter. The program is particularly popular among Gen Z moviegoers and provides a more consistent cadence of visits from a younger audience.
Higher visit frequency can also support spending beyond admissions. A-List gives AMC opportunities to attract customers to secondary movies and sell more food. This is important as the company continues to focus on increasing revenues per patron. In the second quarter, food and beverage revenues per patron and total revenues per patron reached all-time highs across both its domestic and international businesses.
However, A-List membership growth does not guarantee continued gains in spending or attendance. The program’s value will depend on how frequently members visit and how effectively AMC Entertainment converts those visits into food, beverage and other purchases.
With more than 1.1 million members and a growing presence among younger moviegoers, A-List gives AMC a recurring customer base that could support traffic and guest spending as the movie slate expands.
AMC Entertainment’s Price Performance, Valuation & Estimates
AMC shares have surged 130.6% in the past six months against the industry’s 0.6% fall. In the same time frame, AMC Entertainment has outperformed industry players like Cinemark Holdings, Inc. CNK and The Marcus Corporation MCS.
AMC’s Price Performance
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From a valuation standpoint, AMC Entertainment’s stock trades at a forward price-to-sales (P/S) multiple of 0.41, below the industry’s average of 2.64. Cinemark and Marcus have P/S ratios of 1.15 and 1, respectively.
AMC Entertainment’s P/S Ratio (Forward 12-Month) vs. Industry
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The Zacks Consensus Estimate for AMC’s 2026 loss per share indicates a 77.1% year-over-year improvement. Conversely, industry players like Cinemark and Marcus are likely to witness 2026 earnings growth of 126.9% and 652.9%, respectively.
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AMC’s Zacks Rank
AMC Entertainment currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).