AMC Surpasses Expectations with Taylor Swift and Beyoncé Concert Films
Multiplex chain weathered moribund holiday movie season thanks to exclusives Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé
Taylor Swift and Beyoncé not only helped AMC Theatres weather a slow holiday movie season, the singers’ AMC-exclusive concert films actually propelled the multiplex chain to exceed expectations.
In an earnings call with investors Thursday — where news of more Nicole Kidman ads was also announced — AMC CEO Adam Aron revealed that an otherwise moribund fourth quarter was resuscitated by Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé, as those two movies powered the company to $1.1 billion over that 2023 quarter, an increase of more than $990 million from the same period in 2022. Aron said the two concert films were responsible for “literally all” of that increase.
“What is particularly noteworthy is how much AMC benefited from our trailblazing industry leading efforts with our highly successful distribution of two concert movies Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé,” Aron said in a statement (via The Hollywood Reporter). “Despite a diminished box office overall, in the fourth quarter compared to the same quarter a year ago, AMC’s revenue grew by 11.5 percent.”
Following the success of the Swift and Beyonce movies — The Eras Tour in particular is already the highest-grossing concert film and documentary of all time, surpassing $262 million in January — Aron said his “phones have been ringing off the hook” with requests from music acts looking to create similar exclusive partnerships with AMC, with some potential concert films arriving later in 2024 and/or 2025. Aron didn’t provide details on which artists were in discussions with AMC.