In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said.
"It will take years to see box office revenues return to 2019 levels, which they may not ever do at all," said Jamie Lumley, analyst at Third Bridge.
Wedbush Securities analysts expect 2023 box office to be down 24% from 2019 levels.
AMC, however, said it expects box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest.
Still, AMC said it would pay down its debt of about $4.95 billion as it continued to raise cash.