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Gen-Z Opps: AMC Entertainment taps EVP & CMO as digital spend spikes (Score 82)
recently announced having named Eliot Hamlisch as EVP and CMO, effective March 2022. Hamlisch joined from Wyndham Hotels & Resorts, where he most recently served as loyalty and revenue optimization EVP. He succeeds Stephen Colanero, who served as AMC's EVP and CMO for more than twelve years and is now voluntarily retiring. Hamlisch will hopefully lead a turnaround, so since he'll have a direct say over the company's strategy, keep AMC on your radar.
According to iSpot, the company made its first foray into national TV at the beginning of 2021. So far this year, AMC has allocated around $22.1k toward commercials that aired during the 133rd Rose Parade.
So far this year, Pathmatics reports AMC has spent roughly $2.2m on digital ads, almost 3x the roughly $790k it spent in 2021. The company's estimated full-year 2020 spend increased by almost 5x to $14.4m from that of $3.2m in 2020. AMC has earned ~274m digital impressions YTD via Facebook (48%), Instagram (48%), Twitter (3%) and desktop display (1%) ads.
As you can tell by how significantly digital spend is increasing along, along with how much the company's reliance on paid social advertising, it's primarily targeting Gen-Z right now. Per Kantar data, AMC also invests in local broadcast. Spend shows no sign of slowing down anytime soon, so sellers able to offer high-ROI strategies among Gen-Z should get in touch soon.
Agency & martech readers - As you know, hires like this often lead to agency reviews. Contact soon to remain top-of-mind. Per Winmo, AMC works with Bailey Lauerman (creative).