Shares of AMC Entertainment Holdings (NYSE:AMC) rose on Monday after Walt Disney (NYSE:DIS) said it would release its upcoming films exclusively in theaters for the rest of this year.
As of 1:22 p.m. EDT today, AMC’s stock price was up more than 4%.
So what
With many theaters forced to close during the early stages of the pandemic due to social distancing guidelines, Disney began to release some of its movies on its popular Disney+ streaming platform. Even after health officials eased COVID-19 restrictions and theaters began to reopen, Disney made some of its biggest blockbusters available on Disney+ on the same day they hit theaters.
However, following the impressive box office performance of Shang-Chi and the Legend of the 10 Rings, Disney is returning to its traditional theater-first release strategy.
