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%.
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.