Adam Aron, Chief Executive Officer of AMC Theatres, publicly endorsed Skydance founder David Ellison's bid to acquire Warner Bros. on Thursday, a move that starkly contrasts with widespread opposition from other major cinema operators and A-list actors. Aron stated that the potential merger promises an increase in film production, a vital factor for the theatrical exhibition business. He views Ellison's track record as a producer of hits like "Top Gun: Maverick" as a positive signal for future theatrical commitment.
Opposition from major movie theater owners at CinemaCon against Paramount's potential merger with Warner Bros. has been vocal, with many expressing fears of reduced film output. Prominent figures, including actors Ben Stiller, Javier Bardem, and Kristen Stewart, recently signed a petition articulating concerns that such a consolidation could diminish opportunities for creators, cut jobs, increase costs, and limit audience choice. Yet, Adam Aron, who leads the world's largest cinema chain, AMC, holds a decidedly different view. "It is time for AMC to make known our favorable view about Paramount’s desire to acquire Warner," Aron declared in a statement released to the press on Thursday.
He underscored his appreciation for David Ellison's history of success and his passion for creating films designed to captivate global audiences. Aron highlighted Ellison's actions since taking over Paramount Pictures, noting that he has already begun assembling a strong team and increasing the number of greenlit projects. This is a crucial point for Aron.
Last month, in an interview with Variety, Aron expanded on his positive outlook regarding Ellison's strategic moves. He also discussed the potential for further collaborations with artists like Taylor Swift and the ongoing resurgence of the box office this year. "I am the most optimistic and most confident that I have been in six years," Aron stated. "That’s because finally we’re going to see some real growth year-over-year." This sentiment marks a significant shift for an industry still navigating its recovery. Here is the number that matters: The domestic box office plummeted from $11.5 billion in 2019 to $2 billion in 2020, a direct consequence of the global health crisis forcing theater closures.
It then partially recovered to $4.5 billion in 2021. For the subsequent three years, from 2022 to 2024, the box office remained largely stagnant, fluctuating between $8.7 billion and $9 billion, a period impacted by Hollywood labor disputes and some studios scaling back their production schedules. Aron now anticipates a dramatic growth trajectory for 2026, a trend he believes began in the first quarter of this year.
His optimism stems from a projected increase in both the quantity and quality of films. The number of wide-release movies from Hollywood studios has decreased by approximately 30% in recent years. While attendance levels per movie in theaters remain comparable to pre-COVID figures, the overall attendance suffered from fewer available titles. has publicly committed to increasing its film slate from 11 movies last year to 15 or 16 this year.
Paramount, under Ellison's influence, aims to release 15 films this year, up from just seven last year. Amazon, a relatively new entrant to the film business, plans at least 12 movies this year and 15 in 2027. "I’ve always said that when Hollywood makes movies that people want to see, they come out to theaters in droves," Aron explained. This is a simple truth.
Strip away the noise and the story is simpler than it looks: more movies mean more tickets. The anticipated flood of new titles includes both established franchise sequels, such as "Super Mario Bros.," and original stories, like Steven Spielberg’s "Disclosure Day." This combination, Aron believes, holds considerable power to draw audiences back. This represents a significant turnaround from earlier disappointments. "We thought we were going to see some big growth, so when that didn’t happen, we were very surprised," Aron admitted, referring to previous years where movie delays and underperforming titles dampened expectations.
The evolution of theatrical release windows also plays a role in Aron's confidence. Before the global pandemic, the standard window for premium video-on-demand (PVOD) was 74 days, with streaming video-on-demand (SVOD) windows being even longer. The industry then theoretically coalesced around a 45-day window, although Universal adopted shorter windows of 17 days for smaller films and 31 days for larger ones.
However, this 45-day standard often proved to be a fiction. Studio after studio, with the notable exception of Disney, routinely released films to home viewing platforms within 25 to 35 days. This practice, Aron believes, inadvertently trained consumers to wait for home releases, impacting theatrical attendance.
Reversing this trend is key. Netflix's changing stance on theatrical exhibition also contributes to the positive outlook. Historically, Netflix primarily engaged in limited theatrical runs for Oscar qualification, not for broad commercial release. "That changed in 2025," Aron observed.
He believes the streaming giant now recognizes the benefits of working with traditional exhibitors. AMC and Netflix initiated a partnership in September, leading to several collaborations. In October, AMC screened "KPop Demon Hunters." On New Year’s Day, it showed the series finale of "Stranger Things." Just two weeks prior, the first two episodes of the new season of "One Piece" were screened.
AMC was a major driver of ticket sales for these Netflix events. Both companies have publicly stated their intention to pursue more joint projects in 2026 and beyond. This signals a strategic shift for Netflix.
David Ellison's background as a film producer, particularly his involvement with hits like "Top Gun: Maverick" and the "Mission: Impossible" franchise, underpins Aron's favorable view. When asked about the success of "Top Gun: Maverick," Aron recounted an interaction with Tom Cruise. "I’m not alone in telling Tom Cruise that post-COVID, he’s the man who saved the entire movie industry with the release of 'Top Gun: Maverick' in theaters," Aron stated. He also credited Ellison, noting that these were Skydance movies.
This direct experience with successful theatrical releases makes Ellison an ally for exhibitors. AMC's collaborations with Taylor Swift, which Aron described as "one of the most exciting developments in my entire career," underscore the potential for innovative exhibition models. Swift's "Eras Tour" concert film, distributed by AMC, demonstrated the power of direct artist-exhibitor partnerships. "She really is one of a kind," Aron said. "It was the honor of a lifetime for our company to be heavily involved with Taylor." While no specific projects are currently in the works, Aron expects their relationship to continue.
This model offers a path for diversifying content beyond traditional studio releases. Why It Matters: This stance from AMC’s CEO signals a significant division within the cinema industry regarding studio consolidation. While many fear reduced competition and fewer films, Aron bets on the strategic motivations of a producer-led studio.
If Aron's assessment proves correct, increased film output could revitalize theatrical attendance, providing a much-needed boost to an industry that has struggled with consistent growth since 2019. This could reshape how studios and exhibitors collaborate, potentially fostering a more symbiotic relationship focused on maximizing the theatrical experience for a broader range of content, including streaming-first productions and direct artist collaborations. The market is telling you something.
Listen. Key Takeaways: - Adam Aron, AMC CEO, supports David Ellison's bid for Warner Bros., contrasting with widespread industry opposition. - Aron believes Ellison's leadership will increase movie output, a crucial factor for box office growth. - The domestic box office is projected for significant growth in 2026 after years of stagnation. - Netflix has shifted its strategy, now actively collaborating with AMC for theatrical releases. Regulators in the U.S. government will ultimately decide on the approval of any merger between Paramount and Warner Bros.
Their decision will dictate the immediate future of this proposed consolidation. Meanwhile, AMC plans to continue its new collaborations with Netflix, potentially expanding beyond the initial series and concert screenings. The company has also announced it will play Greta Gerwig's upcoming "Narnia" in cooperation with Imax.
Further, the industry will watch closely for additional direct artist partnerships, similar to the successful Taylor Swift model, and for more studios to incorporate "only in theaters" messaging into their promotional campaigns throughout 2026. The coming months will reveal if Aron’s optimism is justified by sustained box office recovery and increased film production.
Key Takeaways
— - Adam Aron, AMC CEO, supports David Ellison's bid for Warner Bros., contrasting with widespread industry opposition.
— - Aron believes Ellison's leadership will increase movie output, a crucial factor for box office growth.
— - The domestic box office is projected for significant growth in 2026 after years of stagnation.
— - Netflix has shifted its strategy, now actively collaborating with AMC for theatrical releases.
Source: Variety